审计学一种整合方法 阿伦斯 英文版 第12版 课后答案 Chapter 26 Solutions Manual.docx

审计学一种整合方法 阿伦斯 英文版 第12版 课后答案 Chapter 26 Solutions Manual.docx

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审计学一种整合方法阿伦斯英文版第12版课后答案Chapter26SolutionsManual

Chapter26

InternalandGovernmentalFinancial

AuditingandOperationalAuditing

ReviewQuestions

26-1Internalauditorswhoperformfinancialauditingareresponsibleforevaluatingwhethertheircompany'sinternalcontrolsaredesignedandoperatingeffectivelyandwhetherthefinancialstatementsarefairlypresented.Thisresponsibilityisessentiallythesameastheresponsibilityofexternalauditorswhoperformfinancialaudits.Thetwotypesofauditorsarealsosimilarinthattheybothmustbecompetentandmustremainobjectiveinperformingtheirworkandreportingtheirresults.Despitethesesimilarities,theroleoftheinternalauditorinfinancialauditingdiffersfromthatofanexternalauditorinthefollowingways:

Becauseinternalauditorsspendalloftheirtimewithonecompany,theirknowledgeaboutthecompany'soperationsandinternalcontrolsismuchgreaterthantheexternalauditor'sknowledge.

Guidelinesforperforminginternalauditsarenotaswelldefinedastheguidelinesforexternalauditors.

Internalauditorsareresponsibletothemanagementofthecompaniesthattheyworkfor,whileexternalauditorsareresponsibletofinancialstatementusers.

Becauseinternalauditorsareresponsibletomanagement,theirdecisionsaboutmaterialityandrisksmaydifferfromthedecisionsofexternalauditors.

26-2ThetwocategoriesofstandardsintheIIAInternationalStandardsfortheProfessionalPracticeofAuditingare

（1）AttributeStandardsand

（2）PerformanceStandards.

TheAttributeStandardsare:

Purpose,authority,andresponsibility

Independenceandobjectivity

Proficiencyanddueprofessionalcare

Qualityassuranceandimprovementprogram

ThePerformanceStandardsare:

Managingtheinternalauditactivity

Natureofwork

Engagementplanning

Performingtheengagement

Communicatingresults

Monitoringprogress

Management’sacceptanceofrisks

26-3Externalauditorsareconsideredmoreindependentthaninternalauditorsfortheauditofhistoricalfinancialstatementsbecausetheirauditreportisintendedfortheuseofexternalusers.Fromaninternaluser'sperspective,internalauditorsareemployeesofthecompanybeingaudited.

Internalauditorscanachieveindependencebyreportingtotheboardofdirectorsorpresident.Theresponsibilitiesofinternalauditorsaffecttheirindependence.Theinternalauditorshouldnotberesponsibleforperformingoperatingfunctionsinacompanyorforcorrectingdeficiencieswhenineffectiveorinefficientoperationsarefound.

26-4Governmentalfinancialauditsaresimilartoauditsofcommercialcompaniesinthatbothtypesofauditsrequiretheauditortobeindependent,toaccumulateandevaluateevidence,andtoapplygenerallyacceptedauditingstandards（GAAS）.Thetwotypesofauditsaredifferentbecausegovernmentalfinancialauditsalsorequiretheauditortoapplygenerallyacceptedgovernmentalauditingstandards（GAGAS）,whicharebroaderthanGAASandincludetestingforcompliancewithlawsandregulations.Governmentalfinancialauditingcanbedoneeitherbyauditorsemployedbyfederalandstategovernments（governmentalauditors）orbyCPAfirms.

26-5TheSingleAuditActwascreatedin1984toeliminateredundancyintheauditsofgovernmentalagencies.TheSingleAuditActprovidesforasinglecoordinatedaudittosatisfytheauditrequirementsofallfederalfundingagencies.TheSingleAuditActwasoriginallyonlyapplicabletoauditsofstateandlocalgovernments,buttherequirementsoftheActwereextendedin1990tohigher-educationinstitutionsandothernot-for-profitorganizationsthroughtheissuanceofOMBCircularA-133.

26-6TheauditingstandardsoftheYellowBookareconsistentwiththetengenerallyacceptedauditingstandardsoftheAICPA.

Someimportantadditionsandmodificationsareasfollows:

Materialityandsignificance.TheYellowBookrecognizesthatacceptableauditriskandtolerablemisstatementmaybeloweringovernmentalauditsthaninauditsofcommercialenterprises.

Qualitycontrol.Organizationsthatauditgovernmententitiesmusthaveanappropriatesystemofinternalqualitycontrolandmustparticipateinanexternalqualitycontrolreviewprogram.

Complianceauditing.TheYellowBookrequiresthattheauditbedesignedtoprovidereasonableassuranceofdetectingmaterialmisstatementsresultingfromnoncompliancewithprovisionsofcontractsorgrantagreementsthathaveamaterialanddirecteffectonthefinancialstatements.

26-6（continued）

Reporting.Theauditreportmuststatethattheauditwasmadeinaccordancewithgenerallyacceptedgovernmentauditingstandards.Inaddition,thereportonfinancialstatementsmustdescribethescopeoftheauditors'testingofcompliancewithlawsandregulationsandinternalcontrolsandpresenttheresultsofthosetests,orrefertoaseparatereportcontainingthatinformation.

Auditfiles.TheYellowBookindicatesthatauditfilesshouldcontainsufficientinformationtoenableanexperiencedreviewerwithnopreviousconnectiontotheaudittoascertainfromtheauditfilesevidencethatsupportstheauditors'significantconclusionsandjudgments.

26-7TheprimaryspecificobjectivesthatmustbeincorporatedintothedesignofaudittestsundertheSingleAuditActareasfollows:

Amountsreportedasexpenditureswereforallowableservices.

Recordsindicatethatthosewhoreceivedservicesorbenefitswereeligibletoreceivethem.

Matchingrequirements,levelsofeffort,andearmarkinglimitationsweremet.

Federalfinancialreportsandclaimsforadvancesandreimbursementscontaininformationthatissupportedbytherecordsfromwhichfinancialstatementswereprepared.

AmountsclaimedorusedformatchingweredeterminedinaccordancewithrelevantOMBcirculars.

26-8TherevisedOMBCircularA-133greatlysimplifiedreportingundertheSingleAuditAct.Thefollowingreportsarerequired:

1.AnopiniononwhetherthefinancialstatementsareinaccordancewithGAAP.

2.Anopinionastowhetherthescheduleoffederalawardsispresentedfairlyinallmaterialrespectsinrelationtothefinancialstatementsasawhole.

3.Areportoninternalcontrolrelatedtothefinancialstatementsandmajorprograms.

4.Areportoncompliancewithlaws,regulationsandtheprovisionsofcontractsorgrantagreements,noncompliancewithwhichcouldhaveamaterialeffectonthefinancialstatements.Thisreportcanbecombinedwiththereportoninternalcontrol.

5.Ascheduleoffindingsandquestionedcosts.

26-9Anoperationalauditisthereviewofanypartofanorganization'soperatingproceduresandmethodsforthepurposeofevaluatingefficiencyandeffectiveness.

26-10Thethreemajordifferencesbetweenfinancialandoperationalauditingare:

Purposeoftheaudit.Financialauditingemphasizeswhetherhistoricalinformationwascorrectlyrecorded.Operationalauditingemphasizeseffectivenessandefficiency.Thefinancialauditisorientedtothepast,whereasanoperationalauditconcernsoperatingperformanceforthefuture.

Distributionofthereports.Forfinancialauditing,thereportistypicallydistributedtomanyusersoffinancialstatements,suchasstockholdersandbankers.Operationalauditreportsareintendedprimarilyformanagement.

Inclusionofnonfinancialareas.Operationalauditscoveranyaspectofefficiencyandeffectivenessinanorganizationandcanthereforeinvolveawidevarietyofactivities.Financialauditsarelimitedtomattersthatdirectlyaffectthefairnessoffinancialstatementpresentations.

26-11Effectivenessreferstotheaccomplishmentofobjectives,whereasefficiencyreferstotheresourcesusedtoachievethoseobjectives.Anexampleofanoperationalauditforeffectivenesswouldbetoassesswhetheragovernmentalagencyhasmetitsassignedobjectiveofachievingelevatorsafetyinacity.Anexampleofefficiencyiswhentwodifferentproductionprocessesmanufactureaproductofidenticalquality,theprocesswiththeleastcostisconsideredtobemostefficient.

26-12Thefollowingarethedistinctionsbetweenthethreekindsofoperationalauditsandanexampleofeachforanot-for-profithospital:

TYPESOFOPERATIONALAUDIT

EXAMPLEFORAHOSPITAL

FunctionalFunctionsareameansofcategorizingtheactivitiesofabusiness,suchasthebillingfunctionorproductionfunction.Afunctionaloperationalauditdealswithanyofthesefunctions.

Reviewofthepayrolldepartmenttodetermineiftheoperationsareeffectivelyandefficientlyperformed.

OrganizationalAnoperationalauditofanorganizationdealswithanentireorganizationalunit,suchasadepartment,branch,orsubsidiary.

Reviewoftheentirehospitalforinefficienciesfoundinanydepartmentinthehospital.

SpecialassignmentSpecialoperationalauditingassignmentsariseattherequestofmanagementforanythingofconcerntomanagement.

ReviewoftheITsystemforfailuretobillinsurancecompaniesforreimbursablecharges.

26-13Internalauditorsareinauniquepositiontoperformoperationalaudits.Theyspendalloftheirtimeworkingforthecompanytheyareauditing.Theythereforedevelopconsiderableknowledgeaboutthecompanyanditsbusiness,whichisessentialtoeffectiveoperationalauditing.

26-14Differentfederalandstategovernmentauditorsperformoperationalauditing,oftenasapartofdoingfinancialaudits.ThemostwidelyrecognizedgovernmentauditorsgroupistheUnitedStatesGovernmentAccountabilityOffice（GAO）.Inaddition,eachstatehasanAuditorGeneral'sofficethathassimilarresponsibilitiestotheGAO.Therearealsoauditorsformost