AICPA审计复习要点摘录Word文档格式.docx
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AICPA审计复习要点摘录Word文档格式.docx
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c)ISArequirestheauditortowithdrawwhenunabletoobtainsufficientappropriateauditevidenceduetoamanager-imposedscopelimitation.USGAAS:
considernotrequire
d)AmendsafterthedateofthereportbutbeforeFSareissued.ISA:
newreportdatednoearlierthanthedateofapprovaloftheamendedFS–alleventstothenewdate!
US.GAAS:
Dueldatethereporttoextendresponsibilityonlyfortheparticularsubsequentevent.
2.P51summary
3.WhenreportingoncomparativeFS,anauditorshouldchangethepreviouslyissuedopinionontheprioryear’sFSiftheprioryear’sFSarerestatedtoconformwithGAAP.
4.P54PRIME
5.Anauditoraydraftanentity’sfinancialstatementsbasedoninformationfrommanagement’saccountingsystem
6.TheAICPAprovidesStatementonAuditingStandards,whichprovidesameasureofconventions,rulesandproceduresgovernedbyAICPA.
7.Requirementforauditevidence:
appropriate!
Notreasonableoradequate
8.PCAOBwasestablishedbytheSOXof2002
9.GroupengagementpartnerAssumeresponsibilityfortheworkofthecomponentauditor:
noreferencemade;
unabletoreviewthecomponentauditor’sauditdocumentation:
makereference!
10.Consistencyisimplicitinreportandexplicitinemphasis-of-a-matterparagraph.
11.Anauditormaynotissueaqualifiedopinionwhentheauditorlacksindependencewithrespecttotheauditedentity.Rather,mustdisclaimanopinion
12.Omissionofrequiredsupplementaryinformationresultinanadditionalparagraphaddedtoanunmodifiedopinion.
13.Anunjustifiedaccountingchangemaycausetheauditortoissueaqualifiedoradverseopinionratherthananunmodifiedopinionwithanemphasis-of-matterparagraph.
14.Goingconcern:
discussionwithlenderswouldnotbeamitigatingfactor.Actualagreementswouldberequired
15.Removalofgoingconcernincurrentperiod:
theemphasis-of-matterparagraphincludedinthepriorperiodshouldnotberepeated,andnodescriptionofthereasonsorplansforrecoveryneedbeincluded
16.Substantialdoubtofgoingconcern:
disclaimerofopinionorunmodifiedopinionwithemphasis
17.Anauditprocedurethatmayidentifydoubtsaboutanentity’sabilitytocontinueasagoingconcern:
Confirmwiththirdpartiesthedetailsofarrangementstomaintainfinancialsupport;
Reviewcompliancewithtermsofdebtagreements
18.
19.
20.Solelybasedonthereportoftheotherauditors:
indicateadivisionofresponsibility
21.Whenanauditorqualifieshisopinionbecauseofascopelimitation,thewordingintheopinionparagraphshouldindicatethatthequalificationpertainstothepossibleeffectsontheFSandnottothescopelimitationitself
22.AccountingchangehasnomaterialeffectonFSinthecurrentyear,butamaterialfutureeffect,theauditormustensurethechangeisdisclosedinthefootnotes,butdoesnothavetorecognizethechangeinthecurrentyear’sauditreport
23.FSomitsthestatementofcashflows:
inadequatedisclosure–qualifiedopinion,notdisclaimerofopinion!
24.Anentitychangesmethodofaccounting,inemphasis–of–matterparagraph:
identifythenatureofthechangeandrefertothefinancialstatementnotethatdiscussesthechangeindetails.
25.UnderU.S.GAAS,ifamongotherrequirements,thegroupengagementpartnerissatisfiedastotheindependenceandtheprofessionalreputationofthecomponentauditor,thegroupengagementpartnermayexpressanopiniononthefinancialstatementstakenasawholewithoutmakingreferencetotheauditofthecomponentauditor
26.Auditorssendsanengagementlettertotheclient,notviceversa
27.GAAPproblem:
failtocontainadequatedisclosureofrelatedpartytransactios
28.GAASproblem:
auditorunabletodeterminetheamountsassociatedwithillegalactscommittedbytheclient’smanagement
29.Makereferencetotheauditofacomponentauditor–noneedofanemphasis–of–matterparagraph
30.OmitoneoftheFSs:
qualified!
31.Auditreportforanissuer:
Inauditor’sresponsibilityparagraph:
conductedinaccordancewithPCAOBstandards
Inopinionparagraph:
refertoGAAP
32.Thepredecessorauditorwhoauditedtheprior-periodFSgenerallyshouldobtainaletterofrepresentationfromthemanagementandsuccessor;
butthesuccessorisnotrequiredtoobtainaletterfrompredecessor
33.IftheFSofapriorperiodhavebeenauditedandthereportisnotpresented,thesuccessorshouldindicateinanother-matterparagraphoftheauditreport
a)TheFSofpriorperiodwereauditedbyapredecessorauditor
b)Thetypeofopinionexpressedandwhy
c)Thenatureofanyemphasis-of-matterorother-matterparagraphincludedinpriorreport
d)Thedateofthepriorreport
34.Subsequentevents:
inquiryabout:
(1)Newcommitments,borrowings,orguarantees
(2)Salesoracquisitionsofassets
35.Dualdatedforasubsequentevent(originaldateofreport,issuanceofrelatedFS):
responsibilitylimitedtothespecificeventreferenced
36.
37.
38.Reportontheapplicationoftherequirementsofanapplicablefinancialreportingframeworkshouldincludeastatementthatshouldanyfactsorcircumstancesdifferfrompresentedtothereportingaccountant,theaccountant’sreportmaychange.
39.TheauditorwouldnotperformarevieworexpressnegativeassuranceonsupplementaryinformationrequiredbyGAAP
40.IfinformationaccompanyingthebasicFShasbeensubjectedtoauditingprocedures,inthereportitisstated:
theaccompanyinginformationisfairlystatedinallmaterialrespectsinrelationtothebasicFStakenasawhole.
41.Reportonapplicationoftherequirementsofanapplicablefinancialreportingframeworktoaspecifictransaction,theCPA’sresponsibleforproperaccountingtreatmentrestswith(取决于)thepreparersofthefinancialstatements
42.PresentationofselectedfinancialdataisnotaformofprospectiveFS
43.顺序很重要!
!
Basisofopinion—opinion—emphasis-of-matterparagraph
A2–otherengagements,reports,andaccountingservices
1.Emphasis-of-matterparagraph:
FSarepreparedinaccordancewithaspecialpurposeframework
Other-matterparagraph:
restrictstheuseoftheauditor’sreport
2.CashbasisFSauditing:
StatementsofincomeandretainedearningsareaccrualbasisFS.Thereportshouldreferto“therelatedstatementsofrevenuecollectedandexpensespaidfortheyearsthenended”
Thebasisofaccountingshouldbeexplicitlyidentified
3.SSARS(statementonstandardsforaccountingandreviewservices)issuedbyAICPA
AnaccountantisrequiredtocomplywiththeprovisionsofSSARSwhensubmittingunauditedFS.Submissionisdefinedas:
presentingtoaclientorthirdpartiesFStheaccountanthasprepared.
ReviewisinaccordancewithSSARS,non-issuersonly
Forissuers:
SASorPCAOBstandards
NoscopeparagraphunderSSARS;
thereferencetoprofessionalstandardsisincludedintheaccountant’sresponsibilityparagraph
4.Compilationdoesn’tneedrepresentationletter;
Reviewneedsrepresentationletter
5.Reviewrequiresindependence,compilationdoesn’t
6.Review:
ULIARCPA
7.Downgradeandupgradeaudit再看一遍,P50-P56
8.P66-68
9.ProspectiveFS
10.Iftheauditorhasdisclaimedanopiniononthefinancialstatementstakenasawhole,theauditormayexpressanopiniononanentity’saccountsreceivablebalanceonlyifthespecialreportonaccountsreceivableispresentedseparatelyfromthedisclaimerofopinionontheFSandtheaccountsreceivablebalancedoesnotconstituteamajorportionoftheentity’scompletesetofFS.
11.Toexpressanopiniononanemployee’sprofitparticipationinnetincome,theCPAmayaccepttheengagementonlyifhealsoauditsandexpressesanopinionontheentity’sI/SandB/S
12.Theauditor’sreportonFSpreparedonthecashreceiptanddisbursementsbasisofaccountingwouldincludeastatementthatthebasisisacomprehensivebasisofaccountingotherthanGAAP
Inthiscircumstance,theaccountantshouldmodifythereviewreporttoreflectthefactthattheFSwerepresentedonanothercomprehensivebasisofaccouning
13.SummaryFS
14.Specialpurposeframeworkreportincludesanemphasis-of-matterandother-matterparagraphs.
15.Positiveassurance
16.Areportonaclient’scompliancewitharegulatoryrequirement,assumingthereportispreparedbasedonafinancialstatementauditofthecompletefinancialstatements,wouldcontainrestricteduslanguage.
17.Writtenrepresentationsshouldbeaddressedtotheaccountant.Thelettershouldbesignedbymembersofmanagementwhomtheaccountantbelievesareresponsibleforandknowledgeableaboutthematterscoversintherepresentationletter.
18.Theaccountantmaydeclinetoissueacompilationreportprovidedthateachpageofthefinancialstatementsisclearlymarkedtorestrictitsuseandawrittenengagementletterisusedtodocumenttheunderstandingwiththeclient.
19.Compiledfinancialstatementsmaybeusedtoobtaincredit.
ProhibitiononusingcompiledFS:
toobtaincreditrelatestopersonalFSwhenth
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