审计学（英文）_01 Summary of the Audit Process

Summary of the audit Process PHASE I PHASE II Plan and design Perform analytical an audit approach procedures and tests of details of balances PHASE II PHASE IV Perform tests of Complete the controls and audit and substantive tests issue an audit of transactions report Arens, Loebbecke; Auditing, 8/ o2000 br Prentice Hall. Inc

Arens, Loebbecke; Auditing, 8/E © 2000 by Prentice Hall, Inc. Summary of the Audit Process PHASE I Plan and design an audit approach PHASE II Perform tests of controls and substantive tests of transactions PHASE III Perform analytical procedures and tests of details of balances PHASE IV Complete the audit and issue an audit report

ASSURANCE SERVICES Assurance services are professional services that improve the quality of information for OBJECTIVE decision makers Describe assurance services and distinguish audit services from Assurance services can be other assurance and nonassurance performed by CPAs or by services provided by CPAs. a variety of other professionals CPAs have provided many assurance services for years. particularly assurances about historical financial statement information Arens, Loebbecke; Auditing, 8/ o2000 br Prentice Hall. Inc

Arens, Loebbecke; Auditing, 8/E © 2000 by Prentice Hall, Inc. ASSURANCE SERVICES Assurance services are professional services that improve the quality of information for decision makers. Assurance services can be performed by CPAs or by a variety of other professionals. CPAs have provided many assurance services for years, particularly assurances about historical financial statement information. OBJECTIVE Describe assurance services and distinguish audit services from other assurance and nonassurance services provided by CPAs

Audit Attestation and assurance Audit: Written report on whether f/s are in accordance with GaaP(Auditing Standards Attestation Written report on reliability of an assertion(e. g, Sales)(Attestation Standards Assurance Service to improve the quality of information Arens, Loebbecke; Auditing, 8/ o2000 br Prentice Hall. Inc

Arens, Loebbecke; Auditing, 8/E © 2000 by Prentice Hall, Inc. Audit, Attestation and Assurance Audit: Written report on whether F/S are in accordance with GAAP ( Auditing Standards) Attestation: Written report on reliability of an assertion (e.g., sales) (Attestation Standards) Assurance: Service to improve the quality of information

Attestation Services Example: Emmy Awards, Miss America Pageant, Lottery An attestation service is a type of assurance service in which the CPA firm issues a written communication that expresses a conclusion about the reliability of a written assertion of another party Arens, Loebbecke; Auditing, 8/E o2000 br Prentice Hall. Inc

Arens, Loebbecke; Auditing, 8/E © 2000 by Prentice Hall, Inc. Attestation Services An attestation service is a type of assurance service in which the CPA firm issues a written communication that expresses a conclusion about the reliability of a written assertion of another party. An attestation service is a type of assurance service in which the CPA firm issues a written communication that expresses a conclusion about the reliability of a written assertion of another party. Example: Emmy Awards, Miss America Pageant, Lottery

Audit of historical financial statements Is a form of attestation service in which the auditor issues a written report expressing an opinion about whether the financial statements are in material conformity with generally accepted accounting principles Arens, Loebbecke; Auditing, 8/ o2000 br Prentice Hall. Inc

Arens, Loebbecke; Auditing, 8/E © 2000 by Prentice Hall, Inc. Audit of Historical Financial Statements Is a form of attestation service in which the auditor issues a written report expressing an opinion about whether the financialstatements are in material conformity with generally accepted accounting principles

A review of historical financial statements is another type of attestation service performed by CPAs This type of review is often adequate to meet users' needs and can be provided by the cPa firm at a much lower fee than an audit Arens, Loebbecke; Auditing, 8/ o2000 br Prentice Hall. Inc

Arens, Loebbecke; Auditing, 8/E © 2000 by Prentice Hall, Inc. A review of historical financial statements is another type of attestation service performed by CPAs. This type of review is often adequate to meet users’ needs and can be provided by the CPA firm at a much lower fee than an audit

The elliott Committee was charged with researching and developing new assurance services opportunities for CPAs to provide to business and individual clients who need relevant and reliable information for critical decision making. Assurance Services on Information Technology There is even greater demand for assurance about computer controls surrounding information transacted electronically and the security of the information related to the transactions CPAs can help provide assurance about these functions. Two examples: 1. Assurances over Web site controls 2. Assurances about information system reliability Arens, Loebbecke; Auditing, 8/ o2000 br Prentice Hall. Inc

Arens, Loebbecke; Auditing, 8/E © 2000 by Prentice Hall, Inc. The Elliott Committee was charged with researching and developingnew assurance services opportunities for CPAs to provide to business and individual clients who need relevant and reliable information for critical decision making. Assurance Services on Information Technology There is even greater demand for assurance about computer controls surrounding information transacted electronically and the security of the information related to the transactions. CPAs can help provide assurance about these functions. Two examples: 1. Assurances over Web site controls 2. Assurances about information system reliability

CPA WebTrust CPA firms that are licensed by the aICPa to perform this service provide assurance to users of Web sites through the CPA Web Trust I CPAS electronic WebTrust seal affixed to the Web site This seal assures the user that the Web site owner has met established criteria related to business practices, transaction integrity, and information processes. Web Trustis an attestation service, and the Web Trust seal is a symbolic representation of the CPA's report on managements assertions about its disclosure of electronic commerce practices. Arens, Loebbecke; Auditing, 8/ o2000 br Prentice Hall. Inc

Arens, Loebbecke; Auditing, 8/E © 2000 by Prentice Hall, Inc. CPA WebTrust CPA firms that are licensed by the AICPA to perform this service provide assurance to users of Web sites through the CPA’s electronic WebTrust seal affixed to the Web site. This seal assures the user that the Web site owner has met established criteria related to business practices, transaction integrity, and information processes. WebTrust is an attestation service, and the WebTrustseal is a symbolic representation of the CPA’s report on management’s assertions about its disclosure of electronic commerce practices

TABLE 1 Other AsSurance Services Examples Source: AlCPA Special Committee on Assurance Services Other Assurance services Controls over and risks related to investments including policies related to derivatives; these services involve Assessing the processes surrounding a companys investment activities to identify risks and to determine the effectiveness of those processes in meeting the companys investment objectives Mystery shopping Performing anonymous shopping to assess sales personnel interaction with customers and procedures performed by sales personnel Assessment of risks of accumulation distribution. and storage of digital information Assessing physical and on-line security risks and related controls surrounding data and other information stored electronically, including the adequacy of back-up and off-site storage Fraud and illegal acts risk assessment Developing fraud risk profiles and assessing the adequacy of company systems and policies in preventing and detecting fraud and illegal acts Arens, Loebbecke; Auditing, 8/ o2000 br Prentice Hall. Inc

Arens, Loebbecke; Auditing, 8/E © 2000 by Prentice Hall, Inc. TABLE 1-1 Other Assurance Services Examples Other Assurance Services Controls over and risks related to investments, including policies related to derivatives; these services involve Assessing the processes surrounding a company’s investment activities to identify risks and to determine the effectiveness of those processes in meeting the company’s investment objectives Mystery shopping Performing anonymous shopping to assess sales personnel interaction with customers and procedures performed by sales personnel Assessment of risks of accumulation, distribution, and storage of digital information Assessing physical and on-line security risks and related controls surrounding data and other information stored electronically, including the adequacy of back-up and off-site storage Fraud and illegal acts risk assessment Developing fraud risk profiles and assessing the adequacy of company systems and policies in preventing and detecting fraud and illegal acts Source: AICPA Special Committee on Assurance Services

ABLE 1-1 Source: AICPA Special Committee on Assurance Services. Continues Compliance with trading policies and procedures handling of the transactions complies with the terms of the trada the Examining transactions between trading partners to ensure that th agreement or contract, including the identification of risk surrounding the trade arrangement Compliance with entertainment royalty agreements Assessing whether royalties paid to artists, authors, and others are in accordance with royalty agreement provisions. Iso 9000 certifications Certifying a companys compliance with iso 9000 quality control standards, which help ensure company products are of high quality Annual environmental audit Assessing whether company policies effectively ensure the companys compliance with environmental standards and laws Arens, Loebbecke; Auditing, 8/ o2000 br Prentice Hall. Inc

Arens, Loebbecke; Auditing, 8/E © 2000 by Prentice Hall, Inc. TABLE 1-1 Continues Annual environmental audit Assessing whether company policies effectively ensure the company’s compliance with environmental standards and laws Compliance with trading policies and procedures Examining transactions between trading partners to ensure that the handling of the transactions complies with the terms of the trading agreement or contract, including the identification of risk surrounding the trade arrangement Compliance with entertainment royalty agreements Assessing whether royalties paid to artists, authors, and others are in accordance with royalty agreement provisions. ISO 9000 certifications Certifying a company’s compliance with ISO 9000 quality control standards, which help ensure company products are of high quality. Source: AICPA Special Committee on Assurance Services