회계 세무 공부/AICPA 공부 요약75 [AUD] Other matter paragraphs 1. Comparative 1) PY(me) report restated(Q/A>UQ) + OM : Date, Opinion(original), Reason(original), Change, State(changed opinion) 2) PY(predecessor)+CY(me) ⓐ PY reissue *not refer me in the reissued report predecessor should(read/compare 올해 재무제표의 전기금액+rep letter f me & client) ⓑ +OM(DORCS) 3) PY unaudited SEC document: unaudited, not refer other document: unaudited, reissue/+OM 2. RSI(Issuer mus.. 2024. 3. 13. [AUD] Going concern 1. Auditor's responsibility Substantial doubt entity's ability to continue as a going concern, +1yrs Not designed to ID substantial doubt 2. Audit Procedure 1) procedures for other objectives are sufficient to id Analytical procedure Subsequent Event L,C,A Minute Compliance conformation 2) conditions may indicate substantial doubt - recurring losses - negative cash flow from operating activities.. 2024. 3. 10. [AUD] Subsequent Event Subsequent period: from BS date to audit report date(last day of fieldwork) Subsequent period auditing procedures (PRIME) Post BS date events Rep letter Inquiry unusual adjustments Minutes Examine the last interim FS 1) Read the latest interim statements 2) Discuss with mgt a. existence of contingent liabilities b. significant changes in shareholder's equity items and long-term debts c. unusual .. 2024. 3. 9. [AUD] Other audit report issues Audit of group FS group engagement team should obtain understanding of component auditor's discuess, review, perform additonal auditing procedures if necessary competence, independent > assume rep, not refer audit Report FS using framework generally accepted in another country auditor should understand, written rep regarding purpose and used of FS 1) used outside the US modified US report or sta.. 2024. 3. 7. [AUD] SSARS ( preparation compilation review interim audit ) SSARS info in the form of FS that is the representation of mgt SSARS > accounting & review service committee * GAAP > FASB / single audit > GAO 1. Preparation Preparation Not preparation Preparing a working trial balance Preparing standard monthly journal entries reproducing client-prepared FS, without modification Drafting Notes for the client(not SSARS) Engagement letter ( no rep letter) > mgt.. 2024. 3. 4. [AUD] Quality Control Apply to auditing and review practice of CPA firms ( not consulting / tax services) manual(QC policies and procedures) > written deficiencies in QC do not necessarily indicate a lack of compliance with GAAS but require prompt correction. Statement on Quality Control Standards (by AICPA) 1. Factors affecting the nature and extent of the QC - size and structure(complexity) - nature of its practice.. 2024. 3. 3. [AUD] Using the work of others 0. Responsibility for opinion cannot be shared with others 1. Decide to use the work of others in the planning stage 2. Assess competence and objectivity Internal auditor Specialist(actuary) Competence, Qualification - Quality of working paper documentation - external quality review of internal audit activities cerification, licences, reputation, experience Objectivity - report to BOD, audit com.. 2024. 3. 2. [AUD] Errors Fraud illegal acts Detection responsibility 1. Assess the risk of misstatement ongoing process, every phase of an audit 2. Design audit to provide reasonable assurance of detection of material misstatement 3. Excercise due care / evaluating results exercise due care, the proper degree of professional skepticism(questioning mind/ critical assessment) * professional skepticism - design additional auditing procedures.. 2024. 2. 29. [AUD] Audit Risk, Sampling Risk, Materiality 1. Audit risk auditor may unknowingly fail to modify the opinion that is MM - Planned level of audit risk the degree to which external users rely on the FS likelihood that a client will have financial difficulties after an audit - Achieved level of audit risk depends on the amount of audit evidence gathered planned > achieved 1) Inherent risk (IR) result from error, fraud (incentive, pressure, o.. 2024. 2. 29. 이전 1 ··· 5 6 7 8 9 다음 반응형
