전체 글273 [AUD] Code of professional conduct Code of professional conduct Any service that a member of the AICPA performs if not in public practice only Rule 102 (integrity and objectivity) and 501 (Discreditable Acts) must be observed what is right and just, all members of AICPA responsibility toward the public Principles 1) Responsibilities: professional and moral judgments 2) Public interest 3) Integrity: right and just 4) Objectivity a.. 2024. 3. 19. [AUD] Internal Control (Planning stage, TOC) 0. General Responsibility Management establish and maintain the effective and efficient internal control Auditor plan audit and assess control risk ensure the audit committee is aware of SD and MW which come to the auditor's attention > no obligation to search for SD of IC Limitation reasonable assurance - cost constraints - mgt override - human judgment in decision-making - human failure - cont.. 2024. 3. 19. [AUD] Sampling 0. General Sampling 대상 Risk assessment (x) TOC ( observation x, inspection 0, inquiry x, reperformance x) ST ( AP x, TOD balance 0, transaction x) Non-statistical / statistical sampling Both involve judgment in planning,executing, evaluating the results of the sample Both provide sufficient, competent evidential matter Non-sampling risk/ Sampling risk Non-sampling risk failure to select appropri.. 2024. 3. 19. [AUD] Risk assessment, TOC, Evidence, Final stage Risk Assessment, Planning Risk assessment to obtain an understanding of the client and its environment Risks of material misstatement(IRxCR) are assessed > determine the Nature, Extent, Timing of additional audit procedure Inherent Risk Accounting is a complex, difficult > IR up Nonroutine transaction(ex. high-value transaction: buy building) > IR up New business risk > affects the risk of MM at.. 2024. 3. 18. [AUD] Business cycles, Economic indicators Business cycles Expansionary Phase - rising profits, strong growth, increase demand, rising price - lower unemployment Peak - high point of economic activity - input shortage lead to higher costs and higer price level Contractionary Phase - higher unemployment Trough - profits at lowest elvel - firms have excess capacity, reduce cost and their workforces Recovery Phase - recovering economc activ.. 2024. 3. 17. [AUD] Estimates, Related Parties, Going concern, Employee benefit plan Estimates 1. Completeness, All estimates developed - LCA, new transaction 2. Valuation, estimates are reasonable Evaluate reasonableness Cautions 1) understand how mgt develop 2) Review & test mgt's process 3) Develop own expectation ex) Aging schedule 4) Review subsequent events 1) Sensitive to variation 2) Inconsistence with the prior period 3) Susceptible to bias 3. Presentation and disclosur.. 2024. 3. 16. [AUD] Paybles, Long-term Debt, Owners Equity Payables Confirmation, Completeness sometimes omitted(not GAAP) sent to major suppliers, disputed accounts sample from a list of vendors, confirm zero balance Unrecorded liabilities, Completeness vendor's invoices and statement(YE, after YE) subsequent cash disbursement subsequent unpaid bills test unopened mail for a reasonable period of time after YE Long-term Debt Average Loan Balance + Inter.. 2024. 3. 16. [AUD] Property, Plant and Equipment Initiation & Execution of Equipment transactions - Request for major repairs - request for purchase of equipment re Acquisition - approved by BOD - vendor's invoice, special requisition form(P.O x) - deeds, tax bill, legal title Disposal - mathematical accuracy, recalculate gain/loss * problem with AD, large loss when asset retirement - disposal agreement, lien on plant equipment * Unrecorded re.. 2024. 3. 16. [AUD] Investments Securities: tradable financial assets Equity Security Fixed income(Bond) Commedities 0~20%: stock FV 21~50%: Equity Method 불입 investment / cash 손익변동 investment/ invest income 배당 cash / investment * divi income>divi record book Trading FV NI AFS FV OCI HTM amort X Gold, Silver Derivatives Possible risk, Loss > Disclose Custody Independent-3rd Party (Trust) Safe-deposit box - no direct contact to .. 2024. 3. 16. 이전 1 ··· 7 8 9 10 11 12 13 ··· 31 다음 반응형
