CPA英语辅导讲义审计.docx

1、CPA英语辅导讲义审计CPA英语辅导讲义_审计一、相关背景1、2008年注册会计师全国统一考试将在会计、审计和财务成本管理三门课程中增加10分的英语附加题。这一变化主要是为了满足中国经济和行业发展对国际型人才的需要。财政部CPA考试委员会将逐步推广英文附加题到其他考试科目中。据此看来，在CPA各科考试中加试英语将是一个趋势。2、增加英语附加题后，会计、审计、财务成本管理的总分为110分，及格分仍为60分，总体考试时间不变。英语附加题要求用英语回答，所以考生朋友们一定要根据本人英语水平选择作答。有一定英语基础（大学英语四、六级水平，掌握一定的财经英语词汇），打算选答英语附加题的考生朋友应该合理规

2、划和安排时间，在考试时认真阅读试卷首页的特别提示和答题导语，争取尽可能多的在英语附加题上拿分。英语基础较薄弱的考生朋友不要慌乱，心态要放平和，力争前面的100分，如果时间允许可尝试做英语附加题。二、可能的题型因为只有10分的英语题，所以估计出客观题的可能性不大，很有可能是主观题，并且是专业题。题型可能包括：名词解释，英汉互译，问答（理论性的或业务性的）。从2007年会计、审计两门课的英语加试题判断，出业务核算和以计算为主的专业题的可能性较大。三、审计英语讲解Auditing一、鉴证业务与外部审计Assurance engagements and external audit An assura

3、nce engagement is one in which a practitioner expresses a conclusion designed to enhance the degree of confidence of the intended users other than the responsible party about the outcome of the evaluation or measurement of a subject matter against criteria.Assurance service: external auditPractition

4、er = AuditorSubject matter = Financial statementsResponsible party = ManagementIntended users = ShareholdersCriteria = Accounting standards/lawConclusion = Truth and fairnessLevel of assurance= High (rendered as “reasonable assurance”)Two general types of assurance engagement:An assertion based enga

5、gement where the account declares that a given assertion is either correct or not.A direct reporting engagement, where the accountant reports on issues that have come to his attention during his evaluation.An audit is an exercise to give an independent opinion on the truth and fairness of financial

6、statements.1重要性、真实和公允反应、合理保证Materiality, true and fair presentation, reasonable assuranceMateriality is the magnitude of an omission or misstatement of accounting information that, in the light of surrounding circumstances, makes it probable that the judgment of a reasonable person relying on the in

7、formation would have been changed or influenced by the omission or misstatement. An auditor must consider materiality both in (1) planning the audit and designing audit procedures and (2) evaluating audit results.2注册会计师的聘用，解聘和辞职Appointment, removal and resignation of auditors3审计意见类型：标准无保留意见、带强调事项段的无

8、保留意见、保留意见、否定意见、无法表示意见Types of opinion: standard unqualified opinion, Unqualified with emphasis of matter paragraph, qualified opinion, adverse opinion, disclaimer of opinion.4职业道德：独立、客观和公正，专业胜任能力，应有的关注，保密性，职业行为Professional ethics: independence, objectivity and integrity, professional competence, due

9、 care, confidentiality, professional behavior5审计业务约定书Engagement letter二、审计计划和风险评估Planning and risk assessment1一般原则General principles Plan and perform audits with an attitude of professional skepticism Audit risks = inherent risk control risk detection risk(1) Inherent risk refers to the likelihood o

10、f material misstatement of an assertion, assuming no related internal control. This risk differs by account and assertion.(2) Control risk is the likelihood that a material misstatement will not be prevented or detected on a timely basis by internal control. This risk is assessed using the results o

11、f tests of control.(3) Detection risk is the likelihood that an auditors procedures lead to an improper conclusion that no material misstatement exists in an assertion when in fact such a misstatement does exist. The auditors substantive tests are primarily relied upon to restrict detection risk.审计风

12、险=重大错报风险检查风险Audit risks = material misstatement risk detection risk练习：The auditors assessed a combined inherent risk and control risk at 0.50 and said they wanted to achieve a 0.05 risk of failing to detect misstatements in an account equal to the ￥17,000 tolerable misstatement assigned to the accou

13、nt. What detection risk do the auditors plan to use for planning the remainder of the audit work? Risk-based approach：audit risk-based approach, business risk-based approach2了解被审单位Understanding the entity and knowledge of the businessThe CPA should obtain a level of knowledge of the clients business

14、 that will enable effective planning and performance of the audit in accordance with generally accepted auditing standards. This knowledge helps the auditor in (1) Identifying areas that may need special consideration(2) Assessing conditions under which accounting data are produced, processed, revie

15、wed and accumulated(3) Evaluating accounting estimates for reasonableness (e.g., valuation of inventories, depreciation, allowance for doubtful accounts, percentage of completion of long-term contracts)(4) Evaluating the reasonableness of management representations(5) Making judgments about the appr

16、opriateness of the accounting principles applied and the adequacy of disclosures3估计重大错报或舞弊的风险Assessing the risks of material misstatement and fraud 重要性水平 可容忍误差 Materiality (level) tolerable errorAuditors use materiality three ways: (1) as a guide to planning the audit programdirecting attention and

17、audit work to the important, uncertain, or error-prone items and accounts; (2) as a guide to evaluation of the evidence; (3) as a guide for making decisions about the audit report. Materiality in auditing is perceived in terms of both potential misstatement (in a planning sense) and known or estimat

18、ed misstatement (in an evaluation and reporting decision sense).Auditors must examine both quantitative and qualitative factors when assessing materiality. Some of the common factors auditors use in making materiality judgments are: (1) Absolute Size; (2) Relative Size; (3) Nature of the item or iss

19、ue; (4) Circumstances; (5) Uncertainty; (6) Cumulative EffectsThe tolerable misstatement is the amount by which a particular account may be misstated, yet still not cause the financial statements taken as a whole to be materially misleading.练习：(1) Explain the relationship between Materiality, Audit

20、risk and Audit evidence.(2) Discuss the criteria which would determine whether the following sale of an asset would be deemed to be material and require disclosure in the financial statements.AB, a public limited company, manufactures engineering parts, and is preparing its financial statements for

21、the year ending 31 December 2007.AB has sold a building to one of its directors who retired on 31 December 2007. The selling price of the building was 500,000 and the company made profit of 200,000 on the transaction. If the building price index rises more than 50 percent in the next two years then

22、a further 100,000 becomes payable by the director. The company does not normally sell building and this transaction is the first of its kind in the company records. The director was earning 400,000 per annum at the time of her retirement.The company normally makes profits of between 40 million and 5

23、0 million but the current years operating profits have dropped to 3 million. The net assets of the company are 400 million and the carrying value of building in the balance sheet is 100 million.Answer:(a) Nature and incidence of the transactionThe company does not normally sell building and this tra

24、nsaction is the first of its kind. Also the transaction is with a related party. Although the profit on the transaction of 200,000 is unlikely to be material from the companys point of view, it is likely to be material to the director, as the cost to the director exceeds her annual salary. When cons

25、idering materiality, the auditor has also to consider the needs of users and so it is likely that this transaction would be considered material by users.(b) SizeThe size of the profit (200,000) is material based on the operating profit, as it accounts for 6.7% of operating profit. But the size of ne

26、t assets makes the sale of building immaterial.(c) DisclosureUnder CAS, the profit on sale of tangible non-current assets may be disclosed separately depending on size. As discussed above, the net profit on sale is 6.7% of operating profit and so could be deemed to be significant; particularly as th

27、is is the first transaction of its type carried out by the company.(d) ContingencyUnder CAS, the auditors also need to consider whether a provision needs to be made for the additional 100,000 that could become payable by the director, within the next two years. The contingency is likely to occur, ot

28、herwise the provision would not be included in the contract. However, is the contingent asset of 100,000 immaterial? Once again, it is down to professional judgment as to whether the contingency is material.Taking all the above items together, it is likely that the sale of the asset is material taki

29、ng particular note of the nature and incidence of the transaction. Therefore it is likely to be disclosed in the accounts, probably in accordance with CAS Related Party Disclosures.4分析性复核程序Analytical proceduresAnalytical procedures are normally used at three stages of the audit: (1) planning, (2) su

30、bstantive testing, and (3) overall review at the conclusion of an audit. They are required during the planning and overall review stages.Analytical procedures are used for 3 purposes:(1) Planning nature, timing, and extent of other auditing procedures(2) Substantive tests about particular assertions

31、(3) Overall review in the final stage of audit5制定审计计划Planning an audit6审计记录：工作底稿Audit documentation: working papers7利用其他人的工作Using the work of others Rely on the work of experts Rely on the work of internal audit三、内部控制Internal controlInternal control is a process effected by an entitys board of direc

32、tors, management, and other personneldesigned to provide reasonable assurance regarding the achievement of objectives in the following categories: (1) reliability of financial reporting, (2) effectiveness and efficiency of operations, and (3) compliance with applicable laws and regulations.Five components of internal control(1) control environment(2) risk assessment(3) control activities(4) information and communication(5) monitoring 1内部控制系统评价内部控