审计学：一种整合方法_第12版_英文版Cha

Financial Statements Cycles
Learning Objective 4
• Classify transactions and account • balances into financial statement • cycles and identify benefits of a • cycle approach to segmenting • the audit.
Objective of Conducting an Audit o f Financial Statements
The objective of the ordinary audit of financial statements is the expression of an opinion of the fairness with which they present fairly, in all respects, financial position, result of operations, and its cash flows in conformity with GAAP.
Management’s Responsibilities
Management is responsible for the financial statements and for internal control.
The Sarbanes-Oxley Act increases management’s responsibility for the finຫໍສະໝຸດ ncial statements.
The Sarbanes-Oxley Act provides for criminal penalties for anyone who knowingly falsely certifies the statements.
Learning Objective 3
• Explain the auditor’s • responsibility for discovering • material misstatements.
Learning Objective 2
• Distinguish management’s • responsibility for the financial • statements and internal control • from the auditor’s responsibility • for verifying the financial • statements and effectiveness • of internal control.
Audit Responsibilities and Objectives
Chapter 6
Learning Objective 1
• Explain the objective of • conducting an audit of • financial statements and • an audit of internal controls.
➢ Evidence accumulation when there is no reason to believe indirect-effect illegal act exists
Auditor’s Responsibilities for Discov ering Illegal Acts
Steps to Develop Audit Objectives
1. Understand objectives and responsibilities for the audit.
2. Divide financial statements into cycles.
3. Know managementassertions about accounts.
Auditor’s Responsibilities
➢ Material versus immaterial misstatements ➢ Reasonable assurance ➢ Errors versus fraud ➢ Professional skepticism ➢ Fraud resulting from fraudulent financial
It requires the CEO and the CFO of public companies to certify the quarterly and annual financial statements submitted to the SEC.
Management’s Responsibilities
Steps to Develop Audit Objectives
4. Know general audit objectives for classes of transactions and accounts.
5. Know specific audit objectives for classes of transactions and accounts.
reporting versus misappropriation of assets
Auditor’s Responsibilities for Discov ering Illegal Acts
➢ Direct-effect illegal acts
➢ Indirect-effect illegal acts
➢ Evidence accumulation and other actions when there is reason to believe direct- or indirect-effect illegal acts may exist
➢ Actions when the auditor knows of an illegal act