Audit Responsibilities
and Objectives
審計的責任與目的
Learning Objective 1
Explain the objective of
conducting an audit of
financial statements and
an audit of internal controls.
Objective of Conducting an Audit of 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.
一般財務報表審計的目地是針對財務報表是否依照一般公認會計原則，允當表達財務狀況、經營結果及現金流量表示意見。
Objective of Conducting an Audit of Financial Statements
not an insurer or a guarantor of the fairness of the presentations in the statements,不是擔任財務報表允當表達的保証人
the auditor has considerable responsibility for notifying users whether the statements are properly stated.有責任提醒財務報表是否允當表達
Steps to Develop Audit Objectives
Understand objectives and responsibilities
for the audit.瞭解審計的目地及責任
1
2
Divide financial statements into cycles.
依交易循環區分財務報表
3
Know management assertions about accounts.
管理當局的會計責任
Steps to Develop Audit Objectives
Know general audit objectives for
classes of transactions and accounts.
瞭解交易類別一般審計責任
4
5
Know specific audit objectives for
classes of transactions and accounts.
瞭解交易類別特定審計責任
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.
Management’s Responsibilities
Management is responsible for the financial statements
and for internal control.管理當局對財務報表及內控負責
The Sarbanes–Oxley Act increases management’s
responsibility for the financial statements.
It requires the CEO and the CFO of public
companies to certify the quarterly and annual
financial statements submitted to the SEC.
Management’s responsible
管理當局的責任
The responsibilities
(1) for adopting sound accounting policies,
(2)maintaining adequate internal control,
(3)and making fair representations in the financial statements
Management’s responsible
管理當局的責任
management’s responsibilities for the fairness of the representations (assertions) in the financial statements carries with it the privilege of determining which disclosures it considers necessary. 包括必要的揭露
Management’s Responsibilities
The Sarbanes-Oxley Act provides for criminal
penalties for anyone who knowingly falsely
certifies the statements.沙賓法案增加管理當局對
已知財務報表誤述的刑事責任
Learning Objective 3
Explain the auditor’s responsibility
for Discovering material
misstatements.解釋審計人員
對發現重大誤述的責任
Auditor’s Responsibilities
審計人員的責任
– Material versus immaterial misstatements
重大及不重大的誤述
– Reasonable assurance合理確信
– Errors versus fraud 錯誤與舞弊
– Professional skepticism專業懷疑
– Fraud resulting from fraudulent financial
reporting versus misappropriation of assets
因舞弊財務報導及資產誤述的結果
Responsibilities for Discovering Illegal Acts
Direct-effect illegal acts直接影響的非法行為
Indirect-effect illegal acts間接影響的非法行為
Evidence accumulation when there is no reason
to believe indirect-effect illegal act exists
証據累積顯示沒有理由相信
有間接影響的非法行為的存在
Responsibilities for Discovering Illegal Acts
Evidence accumulation and other actions when
there is reason to believe direct- or
indirect-effect illegal acts may exist
証據顯示有理由相信非法行為
存在採取的行動及証據的累積
Actions when the auditor knows of an illegal act
審計人員知道有非法行為存在採取的行動
Direct-effect illegal acts直接影響的非法行為的說明
certain violations of laws and regulations have a direct financial effect on specific account balances in the financial statements.
Direct-effect illegal acts直接影響的非法行為
The auditor’s responsibilities under SAS 54 for these direct-effect illegal acts is the same as for errors and fraud.
On each audit, therefore, the auditor will normally evaluate whether or not there is evidence available to indicate material violations of federal or state tax laws.
indirect-effect illegal acts
Most illegal acts affect the financial statements only indirectly. Potential material fines and sanctions indirectly affect financial statements by creating the need to disclose a contingent liability for the potential amount that might ultimately be paid. This is called an indirect-effect illegal act.
Responsibilities for Discovering Illegal Acts
Auditing standards clearly state that the auditor provides no assurance that indirect-effect illegal acts will be detected.
Auditors lack legal expertise,
and the frequent indirect relationship between illegal acts and the financial statements makes it impractical for auditors to assume responsibility for discovering those illegal acts.
There are three levels of responsibility that the auditor has for finding and reporting illegal acts.
Evidence accumulation when there is no reason
to believe indirect-effect illegal act exists
証據累積顯示沒有理由相信有間接影響的非法行為的存在
Evidence accumulation and other actions when
there is reason to believe direct- or
indirect-effect illegal acts may exist
証據顯示有理由相信非法行為存在採取的行動及証據的累積
Actions when the auditor knows of an illegal act
審計人員知道有非法行為存在採取的行動
Evidence accumulation when there is no reason to believe indirect-effect illegal act exists
many audit procedures normally performed on audits to search for errors and fraud may also uncover illegal acts, example reading the minutes of the board of directors and inquiring of the client’s attorneys about litigation.
Other than these procedures, the auditor should not search for indirect-effect illegal acts unless re is reason to believe they may exist.
Evidence accumulation and other actions when there is reason to believe direct or indirect-effect illegal acts may exist
it is necessary to take several actions:
First, the auditor should inquire of management at a level above those likely to be involved in the potential illegal act.
Second, the auditor should consult with the client’s legal counsel or other specialist who is knowledgeable about potential illegal act.
Evidence accumulation and other actions when there is reason to believe direct or indirect-effect illegal acts may exist
Third, the auditor should consider accumulating additional evidence to determine whether there actually is an illegal act. All three of these actions are intended to provide the auditor with information about whether the suspected illegal act actually exists.
Actions when the auditor knows of an illegal act
first course of action when an illegal act has been identified is to consider the effects on the financial statements, including the adequacy of disclosures.
2. If the auditor concludes that the disclosures relative to an illegal act are inadequate, the auditor should modify the audit report accordingly.
Actions when the auditor knows of an illegal act
auditor should also consider the effect of such illegal acts on its relationship with management. If management knew of the illegal act and failed to inform the auditor, it is questionable whether management can be believed in other discussions.
auditor should communicate with the audit committee or others of equivalent authority to make sure that they know of the illegal act.
會計師對偵查非法行為之責任
未遵循法令事項，係指受查者業務經營涉有違反法令規定之情形，其型態包括應作為而不作為，或不應作為而作為。
會計師對偵查非法行為之責任
發生徵兆例舉
1.政府機關已進行調查。2.支付罰金或罰鍰。3.對顧問、關係人、職員或政府官員給付性質不明之款項或貸款。4.佣金支出遠超過正常水準。5.購入或出售資產之價格與市價差異懸殊。 6.支付鉅額現款。7.與設籍於租稅天堂之公司有不尋求交易。8.由於會計制度設計之缺失或突發狀況之影響。現有制度無法提供適當之查核軌跡或足夠之證據。9.交易未經授權或未作適當記錄。10.大眾傳播媒體已作負面報導。
※除非查核人員已取得反證，否則得作成受查者已遵循有關法令規定之假設。
責任劃分
1.未遵循法令事項之防範與偵測係管理階層之責任。
2.查核人員應以專業上懷疑之態度，實施查核規劃及執行查核程序，俾能對受查者是否有未遵循法令事項提高警覺。
某些未遵循法令事項未能偵出的原因如下
1許多法令主要與受查者之業務經營有關，在一般情況下，此等法令對財務報表並無重大影響，而受查者之內部控制制度亦未能適當反應其影響。
2受查者內部控制制度受先天限制。
3受查者故意隱瞞未遵循法令事項。
4查核人員採用抽查方式查核。
5查核人員所取得之大部分證據，其性質通常僅具說服力，而不具結論性。
6某行為是否確屬未遵循法令規定，應由法院行政機關決定。
具有未遵循法令事項跡象時之查核程序
1評估其對財務報表可能影響。
2與受查者管理階層討論。
3受查者管理階層如無充分理由與證據證明受查者事實上已遵循法令規定，得與受查者之律師或法律顧問討論。
4查核人員如認為不宜與受查者之律師或法律顧問討論，或查核人員不同意受查者之律師或法律顧問之意見時，應考慮與己方之律師或法律顧問討論。
未遵循法令事項的告知
1將所發現之未遵循法令事項儘速告知受查者之高級管理階層、董事會或監察人。
2除法令另有規定外，查核人員不得將受查者未遵循法令事項告知第三者。
3會計師如認為最高管理階層或董事長涉及未遵循法令事項或知悉而未採取必要之改正行動時，不論該事項對財務報表之影響是否重大，應考量是否終止委任
查核報告
1.會計師如認為未遵循法令事項對財務報表有重大影響，而財務報表未做適當之揭露或調整時，應出具保留或否定意見之查核報告。
2.會計師如因委任人、受查者或客觀環境之限制，致無法獲得足夠與適切之證據，以評估對財務報表有重大影響之未遵循法令事項是否確已發生時，應出具保留意見或無法表示意見之查核報告。
Learning Objective 4
Classify transactions and account
balances into financial statement
cycles and identify benefits of a cycle
approach to segmenting the audit.
Financial Statements Cycles
Audits are performed by dividing the financial
statements into smaller segments or components.
Transaction Flow Example
Transactions
Acquisition
of goods
and services
Sales
Cash
receipts
Journals
Cash receipts
journal
Sales
journal
Acquisitions
journal
Ledger, Trial Balance, and
Financial Statements
General ledger
and subsidiary
records
General ledger
trial balance
Financial
statements
Transaction Flow Example
Transactions
Journals
Ledger, Trial Balance, and
Financial Statements
Allocation and
adjustments
Payroll
journal
Cash
disbursements
Cash disburse-
ments journal
Payroll
services and
disbursements
General
journal
General ledger
and subsidiary
records
General ledger
trial balance
Financial
statements
Relationships Among Transaction Cycles
General
cash
Capital acquisition
and repayment cycle
Sales and
collection
cycle
Acquisition
and payment
cycle
Payroll and
personnel
cycle
Inventory and
warehousing
cycle
Learning Objective 5
Describe why the auditor obtains
a combination of assurance by
auditing classes of transactions
and ending balances in accounts.
Balance and Transactions Affecting Balances Example
Beginning balance
Sales
$ 18,827
$144,328
$138,393
Cash receipts
$ 1,242
Sales returns
and allowances
Charge-off of
uncollectible
accounts
Ending balance
$ 20,197
$ 3,323
Accounts Receivable (in thousands)
Learning Objective 6
Distinguish amongthe five
categories of management assertions
about financial information.
區別管理當局對財務資訊的五大聲明
Management Assertions
1. Existence or occurrence存在或發生
2. Completeness完整性
3. Valuation or allocation評價與分攤
4. Rights and obligations權利與義務
5. Presentation and disclosure表達與揭露
Learning Objective 7
Link the six general transaction-related
audit objectives to the five
management assertions.連接六個
交易相關一般審計目標與管理當局聲明
Transaction-Related
Audit Objectives
Existence
Recorded transactions exist.
被記錄的交易是確實存在
Completeness
Existing transactions are
recorded.確實存在的
交易皆已記錄
Accuracy
Recorded transactions
are stated at the correct
amounts.已正確金額記錄
Transaction-Related
Audit Objectives
Classification
Transactions are properly
classified.經適當分類
Timing
Transactions are recorded
on the correct dates.
正確日期記錄
Posting and
summarization
Transactions are included
in the master files and
are correctly summarized.
Transaction-Related Audit Objectives
and Management Assertions
Management Assertions
General Transaction-
Related Audit Objectives
Existence or occurrence
Completeness
Valuation or allocation
Existence
Completeness
Accuracy
Classification
Timing
Posting and summarization
Rights and obligations
Presentation and disclosure
N/A
N/A
Learning Objective 8
Link the nine general balance-
related audit objectives to the
five management assertions.連接九個
一般帳戶餘額審計目標與管理當局聲明
General Balance-Related
Audit Objectives
Existence存在
Amounts included exist.
被包括的金額真實存在
Completeness
完整
Existing amountsare included.
真實存在的金額被包括在內
Accuracy
正確性
Amounts included are stated
at the correct amounts.
被包括在內金額是正確
General Balance-Related
Audit Objectives
Classification
分類
Amounts are properly
classified.金額被適當的分類
Cutoff
截止日期
Transactions are recorded
in the proper period.交易
在適當期被間記錄
Detail tie-in
與細節相符
Account balances agree with
master file amounts, and with
the general ledger.
帳戶餘額與主檔及總帳相符
General Balance-Related
Audit Objectives
Realizable Value
淨變現金額
Assets are included at
estimated realizable value.
被包括在內的資產
應估計淨變現價值
Rights and
Obligations
權利與義務
Assets must be owned.
Presentation
and
Disclosure
表達與揭露
Account balances and
disclosures are presented
in financial statements.
Assertions and Balance-Related Audit Objectives
Management Assertions
General Balance-
Related Audit Objectives
Existence or occurrence
Completeness
Valuation or allocation
Existence
Completeness
Accuracy
Classification
Cut-off, Detail tie-in
Realizable value
Rights and obligations
Presentation and disclosure
Rights and obligations
Presentation and disclosure
Learning Objective 9
Explain the relationship
between audit objectives
and the accumulation
of audit evidence.
How Audit Objectives
Are Met
The auditor must obtain sufficient competent
audit evidence to support all management
assertions in the financial statements.
審計人員必須曲得足夠且適切的審計証據
支持所有管理當局對財務報表的聲明
An audit process is a methodology
for organizing an audit.
Four Phases of an Audit
Phase I
Plan and design
an audit approach.
規劃設計審計方法
Phase II
Perform tests of
controls and
substantive tests
of transactions.執行
控制測試及交
易証實測試
Phase III
Perform analytical
procedures and
tests of details
of balances.
分析性覆核程序
和細節測試
Phase IV
Complete the audit
and issue an audit
report.完成審計和
出具審計報告
