审计英语.docx

审计英语.docx

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审计英语

审计英语

教学大纲

Chapter1AnIntroductiontoAuditing

Chapter2AuditingStandards

Chapter3ProfessionalEthicsandLegalLiability

Chapter4AuditObjectivesandAuditProcess

Chapter5AuditReport

Chapter6AuditEvidenceandWorkingPapers

Chapter7AuditPlanningandMateriality

Chapter8UnderstandingtheEntityanditsEnvironmentandAssessingtheRisksofMaterialMisstatement

Chapter9Auditor’sProceduresinResponsetoAssessedRisks

Chapter10AuditSampling

Chapter11AuditoftheSalesandCollectionCycle

Chapter12AuditoftheAcquisitionandPaymentCycle

Chapter13AuditoftheManufacturingCycle

Chapter14AuditoftheCapitalAcquisitionandPaymentCycle

Chapter15AuditoftheCashBalances

Chapter16CompletingtheAudit

Chapter1AnIntroductiontoAuditing

1.1Definitionofauditing

1.2Auditing,attestationandassurance

1.3Thethreepartiesinvolvedinauditing

1.4Theclassificationofaudit

1.5Typesofauditors

1.6Distinctionbetweenauditingandaccounting

LearningObjectives

Afterstudyingthischapter,youshouldbeableto

1.Understandthedefinitionofauditing.

2.Understandtherelationshipamongauditing,attestationandassurance.

3.Comprehendthedifferencesbetweenauditingandreview.

4.Learnthethreepartiesinvolvedinauditing.

5.Learntheclassificationofaudit.

6.Learnthetypesofauditors.

7.Comprehendthedistinctionbetweenauditingandaccounting.

ØDependableinformationisessentialtotheveryexistenceofoursociety.Theinvestormakingadecisiontobuyorsellsecurities,thebankerdecidingwhethertoapprovealoan,thegovernmentinobtainingrevenuebasedonincometaxreturns,allarerelyinguponinformationprovidedbyothers.Inmanyofthesesituations,thegoalsoftheprovidersofinformationrundirectlycountertothoseoftheusersoftheinformation.Implicitinthislineofreasoningisrecognitionofthesocialneedforindependentpublicaccountants-individualsofprofessionalcompetenceandintegritywhocantelluswhethertheinformationthatweuseconstitutesafairpictureofwhatisreallygoingon.

1.1Definitionofauditing

Glossary

Øauditing审计

Øassertion认定

ØGAAP（generalacceptedaccountingprinciples）公认会计准则

Øreview审阅

Øreasonableassurance合理保证

Ølimitedassurance有限保证

Ømisstatement错报

Øpositiveassurance积极鉴证

Ønegativeassurance消极鉴证

ØTherearedifferentdefinitionsaboutauditingfromthehistorydevelopmentofauditing.Somepeopledefinedtheauditingistheappraisalprocess,somedefinedthattheauditingistheevaluationprocess,andothersdefinedthattheauditingistheeconomiccontrolprocess.Themostaccepteddefinitionforauditingshouldbestatedasfollows:

Ø“Auditingisasystematicprocessofobjectivelyobtainingandevaluatingevidenceregardingassertionsabouteconomicactionsandeventstoascertainthedegreeofcorrespondencebetweenthoseassertionsandestablishedcriteriaandcommunicatingtheresultstointerestedusers.”

ØFromthisdefinition,severalimportantwordsareneededtopayattentionto.First,auditingisasystematicprocess.Itisnottheappraisalprocess,evaluationprocess,oreconomiccontrolprocess.Second,whentheauditorcollectstheevidence,theyneedtokeepobjectivity.Third,thecollectedevidenceshouldbecomparedwiththeassertions.Assertionsaretheimplicationorrepresentationbymanagement.Forth,theauditor’sreportisaboutthedegreeofcorrespondencebetweenassertionsandestablishedcriteria.Theresultsofauditingwillbeavailabletoalltheinterestedusers.Fifth,theestablishedcriteriausuallyrefertoGAAP（generalacceptedaccountingprinciples）.

ØThereisanotherdefinition-review,whichissimilartoaudit,buttherearemanydifferencesbetweenthem.Theauditoffersreasonableassuranceaboutverifiedinformation,whereasthereviewofferslimitedassuranceaboutverifiedinformation.WhatdoesreasonableassurancemeanItmeansthattheauditcannotfindallthemisstatementsbecauseofhisorherknowledgeandscopelimitation.However,theauditorstrytheirbesttocollectsufficientevidencetoprovetheiropinions.Thelimitedassurancemeansthattheauditorsjustuselimitedprocedurestocollectevidence,whichjustincludesinquiryandanalyticalprocedures.Theydon’ttrytheirbesttocollectevidencesothattheyonlycanofferthelimitedassurance.That’swhywecallauditisapositiveassurance,andthereviewisanegativeassurance.

1.2Auditing,attestationandassurance

Glossary

Øinallmaterialrespects在所有重大方面

Øcredibility可信性，可信程度

Øattestation鉴证

Øassurance保证或可信性保证

Øagreed-uponprocedures执行商定程序

Øhighlevelsofassurance高保证水平

Ømoderatelevelsofassurance中等保证水平

Øreliability可靠性，可靠程度

Ørelevance相关，相关性

Øassurancestandards鉴证准则

ØThephrasesusedtoexpresstheCPA’sopinionare“giveatrueandfairview”or“presentfairly,inallmaterialrespects,”whichareequivalentterms.AlthoughtheCPA’sopinionenhancesthecredibilityofthefinancialstatements,theusercannotassumethattheopinionisanassuranceastothefutureviabilityoftheentitynortheefficiencyoreffectivenesswithwhichmanagementhasconductedtheaffairsoftheentity.

ØAfinancialstatementauditis,byfar,themostcommontypeofassuranceengagements.Manytimes,theterm"attestation"isusedtodescribethesameactivitiesasauditing.However,CPAsattesttothereliabilityofawiderangeofothertypesofinformation,includingfinancialforecasts,internalcontrol,compliancewithlawsandregulations.

ØThereisabroadrangeofassuranceengagements,whichincludesengagementsofthefollowing:

1.Engagementstoreportonabroadrangeofsubjectmatterscoveringfinancialandnon-financialinformation.

2.Engagementsintendedtoprovidehighormoderatelevelsofassurance.

3.Attestanddirectreportingengagements.

4.Engagementstoreportinternallyandexternally.

5.Engagementsintheprivateandpublicsector.

ØNotallengagementsperformedbyCPAsareassuranceengagements.OtherengagementsfrequentlyperformedbyCPAsthatarenotassuranceengagementsincludethefollowing.

1.Agreed-uponprocedures.

2.Compilationoffinancialorotherinformation.

3.Preparationoftaxreturnswherenoconclusionisexpressed,andtaxconsulting.

4.Managementconsulting.

5.Otheradvisoryservices.

ØInChina,theassurancestandardsareissuedin2006andimplementedonJanuary1,2007.The“assurance”inChinameansassuranceserviceandattestationservice.

ØAssuranceengagement鉴证业务

ØAudit审计

ØReviewEngagement审阅业务

ØReviewofinternalcontrol内部控制审核

ØTheExaminationofProspectiveFinancialInformation预测性财务信息审核

ØRelatedservices相关服务

ØManagementConsulting管理咨询

ØAgreed-uponProcedures商定程序

ØCompilation代编

ØTaxationservices税务服务

ØAccountingservices会计服务

1.3Thethreepartiesinvolvedinauditing

Glossary

Øauditor审计机构、审计人员

ØCPAfirms会计师事务所

Øaccountability受托经济责任

Øfinancialstatement财务报表

Øindependence独立性

ØWeknowthattherearethreepartiesinvolvedinauditing,andtheyareauditors,ownersandmanagers.TheauditorsarethefirstpartyinthisrelationshipandtheyusuallyrefertoCPAfirms.Theownersarethethirdpartyinthisrelationship.Theownersentrusttheauditorstodotheauditing.Therelationshipbetweentheownersandmanagersiscalledaccountability,whichistheresponsibilityorobligationofmanagerstooperateandmanagetheeconomicresourcesentrustedbytheowners.Themanagersmustreportthesituationofapplicationofeconomicresourcestotheownersandtheownerswillassesstheperformanceofmanagersthroughtheinformation.Fromthepointofmanagers’view,thereisaconflictbetweenthepositionofentrusteeandthecompensationrelatedtoperformance.Sotheywillofferdifferentinformationtosatisfytheowners.Theownershavenodirectinformationfromthecompany,therefore,theyinvitetheauditortoassesstheinformationofferedbythemanagement.

ØThisiswhytheauditingappeared.Theownersentrusttheauditorstoauditthemanagers,andtheauditorsreporttheresultstotheowners.Whentheauditorsauditthemanagers,themanagersshouldfeedbacktheinformationtheauditorswant.

ØHowever,thisthree-partyrelationshipischanginginthereallife.Themanagersinsteadoftheownersentrusttheauditorstodoauditing.Becausegovernmentrequiresmanycompaniestooffertheauditedfinancialstatement,themanagershavetoasktheauditorstoauditthefinancialstatements.

ØSothemanagerscontroltheauditorsbecausethemanagersbecometheentrustorandtheydecidetheemploymentandsalariesofauditors.Thiskindofrelationshipimpairstheindependenceofauditors.

1.4Theclassificationofaudit

Glossary

ØCPAfirmsauditing注册会计师审计

Øgovernmentauditing国家审计

Øinternalcontrolauditingorinternalauditing内部审计

Øproprietorship独资

Øgeneralpartnership普通合伙制

ØLimitedLiabilityCompany（LLC）有限责任制

ØLimitedLiabilityPartnership（LLP）有限责任合伙制

ØCPA（CertifiedPublicAccountant）注册会计师

ØBigFour四大（国际性会计师事务所）

Glossary

Øfinancialstatementaudit财务报表审计

Øcomplianceaudit合规性审计

Øoperationalaudit经营审计

Øfixedtimeaudit定期审计

Øflexibletimeaudit不定期审计

Øauditingattheclient’scompany就地审计

ØauditingatCPAfirms报送审计

ØMicro-audit微观审计

ØMacro-audit宏观审计

Glossary

Ødomesticaudit国内审计

Øoverseasaudit海外审计

Øinternationalaudit国际审计

ØAccountingnumber-basedauditapproach账项基础审计

ØSystem-basedauditapproach制度基础审计

ØRisk-orientedauditapproach风险导向审计

ØTherearemanywaystoclassifytheaudit.First,accordingtothedifferentauditors,therearethreemainauditing,andtheyareCPAfirmsauditing,governmentauditing,andinternalcontrolauditing.TheCPAfirmsusuallyhavefourtypes,