审计学 变化环境中的概念 英文版2025|PDF|Epub|mobi|kindle电子书版本百度云盘下载

审计学 变化环境中的概念 英文版PDF格式电子书版下载

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Chapter 1: Assurance Services2

Introduction3

A.Need for Assurance3

Potential Bias in Providing Information3

Remoteness of Users3

Complexity4

Need for Assurance Regarding Information and Operations4

B.The Special Role of Financial Statement Audits12

Auditing Defined13

The Need for Unbiased Reporting15

Requirements to Enter the Public Accounting Profession16

The Public Accounting Profession17

C.The Providers of Assurance Services17

The Internal Audit Profession18

Governmental Auditing Profession19

D.Other Professional and Regulatory Organizations20

The American Institute of Certified Public Accountants20

State Boards of Accountancy21

The Securities and Exchange Commission21

The Institute of Internal Auditors22

The U.S.General Accounting Office22

The Court System22

Summary22

Significant Terms23

Review Questions24

Multiple-Choice Questions25

Discussion and Research Questions26

Cases31

Chapter 2: Corporate Governance, Serving Client and Public Interests, and Audit Professionalism34

A.Corporate Governance: Serving Client and Public Interests35

Roles of Interested Parties35

Who Is the Audit Client?35

Audit Committees36

Serving the Public s Interests38

Framework for Quality40

Assuring Quality40

B.Maintaining Professionalism: Standards41

Need for Professional Standards41

Generally Accepted Auditing Standards42

Standards for Other Audit Engagements47

C.Maintaining Professionalism: Ethical Framework50

Importance of Ethical Conduct50

AICPA Code of Professional Conduct50

Ethical Theories: Resolving Issues That Are Not Black or White60

An Ethical Framework61

D.Maintaining Professionalism: Ensuring Quality63

Quality Control Standards and External Peer Reviews63

Summary64

Internal Peer Review Programs64

Significant Terms65

Review Questions66

Multiple-Choice Questions67

Discussion and Research Questions69

Cases76

Chapter 3: The Audit Process80

A.Overview of Audit Process81

Developing an Understanding with the Client81

The Audit Process84

Overall Materiality versus Individual Account Materiality92

Materiality Approaches92

B.Materiality and Audit Risk92

Risk of Material Misstatement93

Risk Concepts93

The Profession s Audit Risk Model: Practice Implications96

Illustration of the Audit Risk Model98

Limitations of the Audit Risk Model99

C.Management Assertions101

Financial Statement Assertions101

Assertions for Other Assurance Services103

D.Audit Evidence and Procedures104

Relevance104

Persuasiveness104

Examples of Audit Programs105

Sufficiency105

Relationship Among Audit Procedures and Assertions105

Summary108

Significant Terms109

Review Questions109

Multiple-Choice Questions111

Discussion and Research Questions113

Chapter 4: Understanding Business Risk: A Framework for Audit Planning120

A.Business Risk: Audit lmplications121

What Is Risk?121

The Relationship of Business Risk to the Audit Process123

B.Using Analytical Tools to Develop Expectations134

Assumptions Underlying Analytical Techniques135

Trend Analysis137

Ratio Analysis138

Commonly Used Financial Ratios138

C.Risk Analysis: Auditor Responsibility for Detecting and Reporting Fraud and Other Misstatements140

Responsibilities for Detecting Errors142

Responsibilities for Detecting and Reporting Fraud142

Responsibilities for Discovering Fraud142

Fraud Risk Assessment144

Detecting Fraud: Matching Procedures to the Risk145

Reporting on Detected Defalcations145

Responsibilities for Detecting and Reporting Illegal Acts146

Reporting on Fraudulent Financial Statements146

Linkage to Direct Tests of Account Balances147

Quality of Accounting Principles Used147

D.Risk Analysis and the Conduct of the Audit147

Summary149

Significant Terms149

Appendix 4A: Regression and Time Series Analysis149

Review Questions155

Multiple-Choice Questions157

Discussion and Research Questions158

Case168

Chapter 5: Evaluating the Integrity and Effectiveness of the Client s Controi Systems170

Internal Control171

A.A Framework for Control171

The Need for Control172

B.A Framework for Understanding and Evaluating Internal Controls179

Components of an Internal Control System180

Understanding and Evaluating Accounting Information Systems187

C.Control Risk Assessment197

Phase 1—Obtain an Understanding198

Phase 2—Make Preliminary Assessment of Control Risk205

Phase 3—Perform Test of Controls206

Phase 4—Update Assessment of Control Risk and Need for Substantive Testing206

Review Questions208

Significant Terms208

Summary208

Multiple-Choice Questions210

Discussion and Research Questions212

Cases220

Chapter 6: Computer-Based Processing: Developing an Audit Assessment Approach224

A.Introduction225

Overview of Computerized Accounting Systems225

The New Telecommunications Era: The Virtual Private Network231

B.General and Application Controls233

General Control Concepts233

Application Control Procedures245

Gaining an Understanding of the Control Structure253

C.Overview of Control Risk Assessment Process253

Testing the Effectiveness of Control Procedures254

D.Electronic Data Interchange and Electronic Commerce257

Risks and Control Considerations260

Application Controls260

Evaluating Controls in EDI: An Illustration262

Electronic Commerce264

Summary265

Significant Terms266

Review Questions267

Multiple-Choice Questions269

Discussion and Research Questions271

Cases276

Chapter 7: Direct Tests of Account Balances278

A.Overview of Evidence for Directly Testing Financial Statement Items279

Approach to Gathering Evidence283

Nature of Audit Testing284

B.Audit Procedures286

Overview of Audit Procedures286

Commonly Used Audit Procedures for Direct Tests of Account Balances292

Timing of Procedures296

Extent of Procedures296

Audit Program Development297

C.Audit Programs and Documenting Audit Evidence297

Documenting Audit Evidence298

Importance of Quality Review303

Summary306

Significant Terms306

Review Questions306

Multiple-Choice Questions308

Discussion and Research Questions310

Cases317

Chapter 8: Auditing Computerized Information Systems320

A.Computer Audit Tools to Test Computer Processing321

Overview of a Comprehensive Approach to Computerized Data Processing321

Test Data: Auditing through the Computer323

Approaches to Address Correctness of Processing323

Integrated Test Facility326

Concurrent Processing Methodologies327

Embedded Audit Modules330

Relative Advantages of ITF, Concurrent Processing, and Embedded Audit Modules331

B.Using the Computer to Help Test Accounting Records333

Generalized Audit Software335

Custom-Designed Software337

C.Unique Audit Approaches for Electronic Commerce338

Risk Analysis338

Detailed Testing of Account Balances—Using Computerized Audit Techniques339

The Process and Control Audit339

D.Use of Personal Computing in Conducting an Audit342

Traditional Uses of Personal Computers: Word Processing and Spreadsheets343

Expanded Uses of Personal Computing Software for Audit Purposes343

Unique Problems: Auditing a Client s Spreadsheet346

Summary347

Significant Terms347

Review Questions348

Multiple-Choice Questions350

Discussion and Research Questions352

Cases358

Chapter 9: Auditing Revenue and Reiated Accounts360

Overview of Revenue Cycle361

A.Introduction361

B.Assessment of Environment Risk367

Audit Steps367

Inherent Risk368

The Control Environment: Effect on Sales371

Developing an Understanding of Internal Controls372

Monitoring Controls374

Control Structure Regarding Returns, Allowances, and Warranties374

Importance of Credit Policies Authorizing Sales377

Assessing and Documenting Environment Risk378

Planning for Direct Tests of Account Balances381

C.Substantive Testing in the Revenue Cycle381

Audit Objectives and Assertions384

Standard Accounts Receivable Audit Procedures386

Allowance for Doubtful Accounts399

Analytical Procedures for Revenue Cycle Accounts401

Notes Receivable402

Summary403

Significant Terms403

Review Questions404

Multiple-Choice Questions406

Discussion and Research Questions409

Cases421

Chapter 10: Audit Sampling426

A.Introduction427

Overview of Audit Sampling428

Nonsampling and Sampling Risk428

Nonstatistical Sampling Using Audit Software430

Selecting a Sampling Approach431

Sampling to Test Controls432

Substantive Sampling Considerations433

B.Nonstatistical Sampling438

Determining Sample Size438

Selecting the Sample438

Evaluating the Sample Results438

C.Probability Proportional to Size Sampling441

Overview of PPS Sample Design442

Sample Size and Selection444

Sample Evaluation447

Summary453

Significant Terms453

Appendix 1OA: Sampling to Test Controls456

Appendix 1OB: Classical Sampling Methods469

Review Questions478

Multiple-Choice Questions480

Discussion and Research Questions482

Case490

A.Audit of the Acquisition Cycle492

Chapter 11: Audit of Acquisition Cycle and Inventory492

Overview of Control Procedures and Control Risk Assessment494

Testing Controls over Accounts Payable and Related Expenses499

Substantive Tests of Accounts Payable500

Audits of Expense Accounts501

B.Audit of Inventory and Cost of Goods Sold502

Internal Controls for Inventory504

Substantive Testing of Inventory and Cost of Goods Sold509

Cost of Goods Sold516

Summary517

Significant Terms517

Review Questions518

Multiple-Choice Questions520

Discussion and Research Questions522

Cases530

Chapter 12: Auditing Liquid Assets532

A.Introduction532

Cash Accounts Affected533

Types of Marketable Security Accounts534

Planning for Audits of Cash and Marketable Securities534

B.Audits of Cash Accounts538

Evaluating Control Risk: Cash Accounts538

Understanding and Testing Internal Controls542

Substantive Testing of Cash Balances546

Operational Audits of Cash551

C.Marketable Securities and FinanciaI Instruments553

Audits of Marketable Securities553

Audits of Other Short-Term Securities553

New Financial Instruments and Marketable Securities556

Summary559

Significant Terms560

Review Questions560

Multiple-Choice562

Discussion and Research Questions564

Cases572

A.Audit of Property, Plant, and Equipment574

Chapter 13: Audit of Other Assets and Long-Term Financing574

First-Time Audits575

Inherent Risks575

Evaluating Control Risk and Control Effectiveness578

Tests of Property Additions and Disposals579

Audit Considerations for Capitalized Leases581

Asset Impairment581

Depreciation Expense and Accumulated Depreciation581

Natural Resources582

B.Audits of Mergers and Acquisitions583

An Overview of Accounting Issues Associated with Mergers and Acquisitions583

Audits of Mergers and Acquisitions584

C.Audits of Financing Activities587

Bonds588

Common Stock and Owner s Equity589

Summary592

Significant Terms592

Review Questions592

Multiple-Choice Questions594

Discussion and Research Questions595

Cases604

Chapter 14: Completing the Audit606

A.Final Review of the Audit607

Contingencies607

Adequacy of Disclosures609

Management Representation Letter612

Management Letter614

Summarizing Possible Adjustments615

Evaluating the Going Concern Assumption615

Review of Major Estimates620

Analytical and Quality Review of the Audit621

Communicating with the Audit Committee622

B.Subsequent Events623

Normal Review of Subsequent Events623

Subsequent Discovery of Facts Existing at the Date of the Auditor s Report625

Summary627

Significant Terms627

Consideration of Omitted Procedures after the Report Date627

Review Questions628

Multiple-Choice Questions628

Discussion and Research Questions630

Case634

Chapter 15: Communicating Levels of Assurance636

A.Audits, Reviews, and Compilations of Historical Financial Statements637

Audit Reports637

Reviews and Compilations653

B.Reports on Other Financial Information659

Special Reports659

Interim Financial Information663

Changing Information Needs of Investors and Creditors666

C.Reports on Non-Financial and Other Information666

Reports on Internal Control667

Reporting on Evolving Assurance Services671

Summary675

Significant Terms675

Review Questions676

Multiple-Choice Questions678

Discussion and Research Questions680

Case690

Chapter 16: Professional Liability692

A.The Legal Environment Affecting Litigation against Auditors692

Audit Time and Fee Pressures694

Joint and Several Liability694

Audits Viewed as an Insurance Policy695

Contingent-Fee Compensation for Lawyers695

Class Action Suits695

B.Legal Concepts695

Causes of Legal Action696

Parties That May Bring Suit against Auditors697

C.Approaches to Mitigating Liability Exposure705

Continuing Education Requirement705

Membership Requirements for Firms705

Quality Control Programs706

Defensive Auditing707

Role of Insurance709

Tort Reform710

Effect of Court Cases on Auditing Standards and Practice711

Summary712

Significant Terms713

Review Questions714

Multiple-Choice Questions715

Discussion and Research Questions717

Cases720

Chapter 17: Internal and Value-Added Auditing724

A.Internal Auditing724

Internal Auditing Defined725

B.Scope of Value-Added Internal Auditing732

The Institute of Internal Auditors Code of Ethics732

Reporting Company Fraud732

Operational Auditing735

Information Systems Audits741

Compliance Audits742

Financial Reporting and Control Audits742

Program and Performance Audits743

C.Trends in Value-Added and Internal Auditing744

Global Internal Auditing744

Outsourcing Internal Auditing745

Internal Auditing by Any Other Name745

Review Questions746

Significant Terms746

Summary746

Multiple-Choice Questions747

Discussion and Research Questions749

Case755

Appendix: IDEA Tutorial and Cases756

Tutorial756

IDEA Case 1—Fraud843

IDEA Case 2—Accounts Receivable844

IDEA Case 3—Inventory845

Case Index847

Index848