materialityandrisk(英文版)(ppt66頁(yè))(編輯修改稿)
2025-03-13 08:19 本頁(yè)面
【文章內(nèi)容簡(jiǎn)介】 control risk. ? These are preliminary risk assessments prior to gathering evidence. ? Risk is updated throughout the audit as needed based on the findings. 9 27 Audit Risk Overall ? The probability of giving an incorrect opinion on financial statements as a whole. ? On an individual item like accounts receivable, it is the risk that a material misstatement occurs beyond an acceptable level. ? Acceptable level is defined by materiality 9 28 Risk and Evidence Auditors gain an understanding of the client’s business and industry and assess client business risk. Auditors use the audit risk model to further identify the potential for misstatements and where they are most likely to occur. 9 29 Example of Differing Evidence Among Cycles Sales and Collection Cycle Acquisition and Payment Cycle Payroll and Personnel Cycle Inherent risk Control risk Acceptable audit risk Planned detection risk A B C D medium high low medium low low low low low medium medium high 9 30 Example of Differing Evidence Among Cycles Inventory and Warehousing Cycle Capital Acquisition and Repayment Cycle Inherent risk Control risk Acceptable audit risk Planned detection risk A B C D high low high medium low low low medium 9 31 Audit Risk Model for Planning PDR = AAR 247。 (IR CR) PDR = Planned detection risk AAR = Acceptable audit risk IR = Inherent risk CR = Control risk 9 32 Impact of Engagement Risk on Acceptable Audit Risk Auditors decide engagement risk and use that risk to modify acceptable audit risk. Engagement risk closely relates to client business risk. 9 33 Factors Affecting Acceptable Audit Risk The degree of which external users rely on the statements The likelihood that a client will have financial difficulties after the audit report is issued 9 34 Factors Affecting Acceptable Audit Risk The auditor’s evaluation of management’s integrity 9 35 Making the Acceptable Audit Risk Decision Methods to Assess Risk External users reliance on financial statements ? Examine financial statements. ? Read minutes of the board. ? Examine form 10K. ? Discuss financing plans with management. Factors 9 36 Making the Acceptable Audit Risk Decision Methods to Assess Risk Likelihood of financial difficulties ? Analyze financial statements for difficulties using ratios. ? Examine inflows and outflows of cash flow statements. Factors Management integrity ? See Chapter 8 for client acceptance and continuance. 9 37 SAS 99: Consideration of Fraud in a Financial Statement Audit 9 38 Overall Requirement An audit should be planned and performed to obtain reasonable assurance about whether the financial statements are free of material misstatements, whether caused by error or fraud. An audit requires due professional care, which in turn requires that the auditor exercise professional skepticism. 9 39 Causes of Misstatements Causes Errors Fraud
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