Chapter 2 Organization and Structure of the Auditing ProfessionWord下载.docx
- 文档编号:21630302
- 上传时间:2023-01-31
- 格式:DOCX
- 页数:24
- 大小:41.47KB
Chapter 2 Organization and Structure of the Auditing ProfessionWord下载.docx
《Chapter 2 Organization and Structure of the Auditing ProfessionWord下载.docx》由会员分享,可在线阅读,更多相关《Chapter 2 Organization and Structure of the Auditing ProfessionWord下载.docx(24页珍藏版)》请在冰豆网上搜索。
窗体底部
2
OrganizationandStructureoftheAuditingProfession
2.1TYPESOFASSURANCESERVICES
(a)FinancialAudits,
(b)ComplianceAudits,
(c)PerformanceAudits,
(d)ReviewsofFinancialInformation,
(e)AttestEngagements,
(f)OtherAssuranceServices,
2.2TYPESOFAUDITORS
2.3ORGANIZATIONOFANACCOUNTINGFIRM
(a)AssuranceServices,
(i)Audits,
(ii)Reviews,
(iii)Agreed-UponProceduresEngagements,
(iv)AttestEngagements,
(v)OtherAssuranceServices,
(b)NonassuranceServices,
(i)Compilations,
(ii)TaxServices,
(iii)ConsultingServices,
(c)FirmStructure,
(d)AuditEngagementTeam,
(i)Partner,
(ii)Manager,
(iii)OtherPersonnel,
2.4ORGANIZATIONOFTHEAUDITINGPROFESSION
(a)AmericanInstituteofCPAs,
(b)StateSocietiesofCPAs,
(c)InstituteofInternalAuditors,
(d)OtherOrganizations,
2.5PROFESSIONALCERTIFICATIONANDLICENSING
(a)CertifiedPublicAccountant(CPA),
(b)CertifiedFraudExaminer(CFE),
(c)CertifiedInternalAuditor(CIA),
(d)CertifiedInformationSystemsAuditor(CISA),
2.6ASSURANCESTANDARDSANDSTANDARD-SETTINGBODIES
(a)GenerallyAcceptedAuditingStandards,
(b)InternationalAuditingStandards,
(c)RoleoftheSECandtheCourts,
(d)StandardsforInternalAuditing,
(e)StandardsforGovernmentAuditing,
(f)AttestationStandards,
(g)StatementsonStandardsforAccountingandReviewServices,
2.1TYPESOFASSURANCESERVICES
Althoughthefocusofthisbookisonauditsofhistoricalfinancialstatements,theauditingprofessionprovidesothertypesofassuranceservices,someofwhicharedescribedinthissection.Someoftheseservicescontinuetobereferredtoas"
audits,"
whileothers-particularlysomeofthenewerones-arecalled"
attestengagements."
StillotherservicesinwhichCPAsprovideassurancetotheirclientsandothersarereferredtointhisbookas"
otherassuranceservices."
(a)FinancialAudits
Inafinancialaudit,anauditorseeksevidenceaboutassertionsrelatedmainlytofinancialinformation,usuallycontainedinasetoffinancialstatementsorsomecomponentthereof.Theestablishedcriteriaagainstwhichthatfinancialinformationismeasuredaregenerallyacceptedaccountingprinciplesorsomeotherspecifiedbasisofaccounting(suchasmightbestipulatedinarentalagreement).Generally,theinformationwillbeusedbypartiesotherthanthemanagementoftheentitythatpreparedit.Sometimes,however,theinformationisintendedtobeusedprimarilybymanagementforinternaldecision-makingpurposes.Inthatevent,itmayincludenonfinancialaswellasfinancialdata.Whilemostoftenfinancialauditsareassociatedwithindependentauditorswhoseworkresultsinanopiniononfinancialstatements,bothinternalauditorsandgovernmentauditorsalsoperformfinancialaudits,ofteninconjunctionwithcomplianceorperformanceaudits.
(b)ComplianceAudits
Complianceauditsareintendedtodeterminewhetheranentityhascompliedwithspecifiedpolicies,procedures,laws,regulations,orcontractsthataffectoperationsorreports.ExamplesofcomplianceauditsincludeauditingataxreturnbyanInternalRevenueServiceagent,auditingcomponentsoffinancialstatementstodeterminecompliancewithabondindenture,auditingaresearcher'
sexpendituresunderagovernmentgranttodeterminecompliancewiththetermsofthegrant,andauditinganentity'
shiringpoliciestodeterminewhetherithascompliedwiththeEqualEmploymentOpportunityAct.Aswithallaudits,acomplianceauditrequiresestablishedcriteria(suchasthosecontainedinalaworregulation)tomeasuretherelevantassertionsagainst.Complianceauditsareperformedbyindependentauditorsandbyinternalandgovernmentauditors(oftenaspartofaperformanceaudit).
Ifapolicy,contract,law,orregulationhasadirectandmaterialeffectontheentity'
sfinancialstatements,determiningtheextentofcompliancewithitusuallywillbeanintegralpartofafinancialstatementaudit.1Forexample,anauditorreviewsanentity'
sconformitywiththerestrictivecovenantsinalong-termdebtagreementtoascertainthataviolationofthecovenanthasnotmadetheentirebondissuedueandpayableatthelender'
soption,whichmightrequirethatthedebtbereclassifiedasacurrentliability.Independentauditorsdonot,however,plantheirauditsoffinancialstatementstoprovideassuranceaboutanentity'
scompliancewithpolicies,contracts,laws,andregulationsthatdonothaveadirectandmaterialeffectonthefinancialstatements.Chapter4describestheauditor'
sresponsibilitieswhenapossibleillegalactisdetected.ComplianceauditsarediscussedfurtherinChapter32.
(c)PerformanceAudits
Performanceaudits,alsoreferredtoasoperationalaudits,includeeconomyandefficiencyauditsandprogramaudits.GovernmentAuditingStandards,issuedbytheU.S.GeneralAccountingOfficeandrevisedmostrecentlyin1994,definesthoseauditsasfollows:
Economyandefficiencyauditsincludedetermining
(1)whethertheentityisacquiring,protecting,andusingitsresources(suchaspersonnel,property,andspace)economicallyandefficiently,
(2)thecausesofinefficienciesoruneconomicalpractices,and(3)whethertheentityhascompliedwithlawsandregulationsconcerningmattersofeconomyandefficiency.
Programauditsincludedetermining
(1)theextenttowhichthedesiredresultsorbenefitsestablishedbythelegislatureorotherauthorizingbodyarebeingachieved,
(2)theeffectivenessoforganizations,programs,activities,orfunctions,and(3)whethertheentityhascompliedwithsignificantlawsandregulationsapplicabletotheprogram.
Usingresourceseconomicallymeansachievingaspecifiedoutputorperformancelevelatthelowestpossiblecost.Anentitythatmetorexceededthespecifiedlevelatthelowestcostwouldbeusingitsresourceseconomically.Usingresourcesefficientlymeansattainingthehighestpossibleoutputorperformancelevelataspecifiedcost.Ifoutputorperformancecanbeincreasedwithoutincurringadditionalcosts,theimplicationisthatamoreefficientuseofresourcesispossible.Theachievementofdesiredresultsorbenefitsreferstotheextenttowhichaprogrammeetsobjectivesandgoalsthatareproper,suitable,orrelevant.Resultsthatareconsistentwithestablishedobjectivesandgoalsindicatethattheprogramisbeingcarriedouteffectively.
Objectivesandgoalsmaybeestablishedbyfederalorstatelegislaturesorgrantingagencies,ortheymaybesetbyanentity'
smanagement.AsnotedinChapter1,thesubjectmatterofauditingusuallyisquantifiableinformationabouteconomicactionsandevents.Somequantifiableobjectivesandgoalsmaynotrelatetoeconomicactionsandevents,however,whichraisesthequestionofwhethertheirevaluationfallswithinthedefinitionofauditing.Forexample,inanauditofprogramresultsinastate'
sprisonsystem,programobjectivesandgoalsalmostsurelywillnotbestatedintermsofeconomicactionsorevents;
instead,theymaybestatedintermsofthenumberofprisonersrehabilitatedandreleased,thenumberofrepeatoffenders,orthepercentageofprisoncapacityutilized.Whilesuchprogramauditsmayattimesstretchthedefinitionofauditing,theyarewidelyperformed,particularlybygovernmentauditors,andarealmostalwaysreferredtoasaudits.
(d)ReviewsofFinancialInformation
Areviewengagementconsistsofapplyingcertainlimitedprocedurestofinancialstatementsasabasisforexpressinglimitedassurancethattherearenomaterialmodificationsthatshouldbemadetothem.Thatlimitedassuranceislessthantheassuranceprovidedbyanaudit.
(e)AttestEngagements
AnattestengagementisdefinedinStatementonStandardsforAttestationEngagements,AttestationStandards(ATSection100.01),as"
oneinwhichapractitionerisengagedtoissueordoesissueawrittencommunicationthatexpressesaconclusionaboutthereliabilityofawrittenassertionthatistheresponsibilityofanotherparty."
Thescopeofservicescoveredbythisdefinitionissimilar,ifnotidentical,tothatintheAmericanAccountingAssociation'
sdefinitionofauditing,whichwasdiscussedinChapter1.Examplesofattestservicesincludetestingandreportingonrepresentationsaboutthecharacteristicsofcomputersoftware,investmentperformancestatistics,internalcontrol,prospectivefinancialinformation,andhistoricaloccupancydataforhospitals.
Theprofessionhasnotyetreachedaconsensusaboutwhichservicesshouldbecalledauditsandwhichattestengagements.Fortheforeseeablefuture,however,itisclearthatattestservicesrelatedtohistoricalfinancialstatementswillcontinuetobecalledaudits.Also,theterm"
attestengagement"
willbelimitedtoanengagementinwhichthepractitionerissuesawrittenopinionaboutawrittenassertion.
(f)OtherAssuranceServices
ManyoftheservicesCPAsinpublicpracticecurrentlyperformdonotfallintoanyofthecategoriespreviouslydescribed.Theseservices-aswellasnewservicesthatarenotbeingprovidedcurrently-arebestdescribedas"
Theymayincludeprovidingassuranceonperformancemeasures,suchastheeffectivenessofhealthcareproviders,oronanentity'
scompliancewithitshumanresourcepoliciesoroperatingpolicies.TheAICPASpecialCommitteeonAssuranceSer
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- Chapter Organization and Structure of the Auditing Profession
链接地址:https://www.bdocx.com/doc/21630302.html