accaF8實質(zhì)性審計程序總結大全

1、Substantive procedures Additions and disposalsAdditions Obtain a breakdown of additions, and agree to the non-current asset register to confirm completeness of plant & equipment (P&E) .1.具體的breakdown 與固資帳比查完整性 Select a sample of additions and agree cost to supplier invoice to confirm valuati

2、on. 2.抽樣與發(fā)票核對查價值 Verify rights and obligations by agreeing the addition of plant and equipment to a supplier invoice in the name of Pear. 3.查發(fā)票署名查權利與義務 For a sample of additions recorded in P&E physically verify them on the factory floor to confirm existence. 4.查實體.存在性 Review board minutes to en

3、sure that significant capital expenditure purchases have been authorised by the board. 5.查董事會記錄 Review the list of additions and confirm that they relate to capital expenditure items rather than repairs and maintenance. 6查費用化與資本化問題Disposals Obtain a breakdown of disposals, cast the list and agree al

4、l assets removed from the non-current asset register to confirm existence. 1.具體的與總查存在 Select a sample of disposals and agree sale proceeds to supporting documentation such as sundry sales invoices. 2.無恥法查supporting documentation Recalculate the profit/loss on disposal and agree to the income stateme

5、nt. 3.重計inventory substantive procedures for balances at the year end.(i) ExistenceAssets, liabilities and equity interests exist.Substantive proceduresDuring the inventory count select a sample of assets recorded in the inventory records and agree to the warehouse to confirm the assets exist.Obtain

6、 a sample of pre year-end goods despatch notes and agree that these finished goods are excluded from the inventory records.(ii) Rights and obligationsThe entity holds or controls the rights to assets, and liabilities are the obligations of the entity. (iii) CompletenessAll assets, liabilities and eq

7、uity interests that should have been recorded have been recorded.Substantive proceduresObtain a copy of the inventory listing and agree the total to the general ledger and the financial statements.During the inventory count select a sample of goods physically present in the warehouse and confirm rec

8、orded in the inventory records.(iv) Valuation and allocationAssets, liabilities and equity interests are included in the financial statements at appropriate amounts and any resulting valuation or allocation adjustments are appropriately recorded.Substantive proceduresSelect a sample of goods in inve

9、ntory at the year end, agree the cost per the records to a recent purchase invoice and ensure that the cost is correctly stated.Select a sample of year-end goods and review post year-end sales invoices to ascertain if net realisable value is above cost or if an adjustment is required.Substantive pro

10、ceduresDepreciation Review the reasonableness of the depreciation rates applied to the new leisure facilities and compare to industry averages. depreciation rates與同行業(yè)比較 Perform a proof in total calculation for the depreciation charged on the equipment, discuss with management if significant fluctuat

11、ions arise. a proof in total AP Select a sample of leisure equipment and recalculate the depreciation charge to ensure that the non-current asset register is correct. Recalculate the depreciation charge 為 accuracy Review the disclosure of the depreciation charges and policies in the draft financial

12、statements. ACCURACY Review profits and losses on disposal of assets disposed of in the year, to assess the reasonableness of the depreciation policies. profits and losses on disposal of assets 是否合理Food poisoning1 Review the correspondence from the customers claiming food poisoning to assess whether

13、 Pineapple has a present obligation as a result of a past event. 存在1 Send an enquiry letter to the lawyers of Pineapple to obtain their view as to the probability of the claim being successful.1 Review board minutes to understand whether the directors believe that the claim will be successful or not

14、.2 Review the post year-end period to assess whether any payments have been made to any of the claimants. 數(shù)字2 Discuss with management as to whether they propose to include a contingent liability disclosure or not, consider the reasonableness of this.3 Obtain a written management representation confi

15、rming managements view that the lawsuit is unlikely to be successful and hence no provision is required. 發(fā)誓3 Review the adequacy of any disclosures made in the financial statements.Substantive procedures over year-end trade payables Obtain a listing of trade payables from the purchase ledger and agr

16、ee to the general ledger and the financial statements. 1賬戶比數(shù)字 Review the list of trade payables against prior years to identify any significant omissions. 1與去年比數(shù)字 Calculate the trade payable days for Greystone and compare to prior years, investigate any significant differences. 1計算payable days比數(shù)字 Se

17、lect a sample of goods received notes before the year-end and follow through to inclusion in the year-end payables balance, to ensure correct cut-off. Review after date payments, if they relate to the current year 2 cutoff Obtain supplier statements and reconcile these to the purchase ledger balance

18、s, and investigate any reconciling items. 與供貨方比較信息accuracy Enquire of management their process for identifying goods received but not invoiced or logged in the purchase ledger and ensure that it is reasonable to ensure completeness of payables.詢問對收到貨但是未收到發(fā)票情況的處理方法 Review the purchase ledger for any

19、debit balances, for any significant amounts discuss with management and consider reclassification as current assets. 數(shù)據(jù)出現(xiàn)異常與管理層討論原因 Ensure payables included in financial statements as current liabilities. 無恥法正確做賬 directors bonus and remuneration Obtain a schedule of the directors remuneration includ

20、ing the bonus paid and cast the addition of the schedule. Agree the individual bonus payments to the payroll records. 12都是 賬實對照查準確性 Confirm the amount of each bonus paid by agreeing to the cash book and bank statements. Review the board minutes to confirm whether any additional bonus payments relati

21、ng to this year have been agreed. 董事會記錄 Obtain a written representation from management confirming the completeness of directors remuneration including the bonus. 書面 Review any disclosures made of the bonus and assess whether these are in compliance with local legislation. 查是否合法合規(guī)Audit procedures re

22、garding non-depreciation of buildings Review audit file to ensure that sufficient appropriate audit evidence has been collected in respect of this matter. Ensure that GAAP does apply to the specific buildings owned by Galartha Co and that a departure from GAAP is not needed in order for the financia

23、l statements to show a true and fair view. Meet with the directors to confirm their reasons for not depreciating buildings. Warn the directors that in your opinion buildings should be depreciated and that failure to provide depreciation will result in a modified audit report. Determine the effect of

24、 the disagreement on the audit report in terms of the modified opinion being material or of pervasive materiality to the financial statements. Draft the appropriate sections of the modified audit report. Obtain a letter of representation from the directors confirming that depreciation will not be ch

25、arged on buildings.Procedures to confirm inventory held at third party locations Send a letter requesting direct confirmation of inventory balances held at year end from the third party warehouse 函證providers used by Abrahams Co regarding quantities and condition. Attend the inventory count (if one i

26、s to be performed) at the third party warehouses to review the controls in operation to ensure the completeness and existence of inventory. 參與盤點 Inspect any reports produced by the auditors of the warehouses in relation to the adequacy of controls over inventory. 檢查報告 Inspect any documentation in re

27、spect of third party inventory. 檢查第三方倉儲文件(ii) Procedures to confirm use of standard costs for inventory valuation Discuss with management of Abrahams Co the basis of the standard costs applied to the inventory valuation, and how often these are reviewed and updated. 與管理層討論 Review the level of varian

28、ces between standard and actual costs and discuss with management how these are treated. 與管理層討論差別 Obtain a breakdown of the standard costs and agree a sample of these costs to actual invoices or wage records to assess their reasonableness. 明細檢查差錯Going concern procedures Obtain the companys cash flow

29、 forecast and review the cash in and out flows. Assess the assumptions for reasonableness and discuss the findings with management to understand if the company will have sufficient cash flows. Review the companys post year-end sales and order book to assess if the levels of trade are likely to incre

30、ase and if the revenue figures in the cash flow forecast are reasonable. Review the loan agreement and recalculate the covenant which has been breached. Confirm the timing and amount of the loan repayment. Review any agreements with the bank to determine whether any other covenants have been breache

31、d, especially in relation to the overdraft. Discuss with the directors whether they have contacted any alternative banks for finance to assess whether they have any other means of repaying the loan of $4·8m. Review any correspondence with shareholders to assess whether any of these are likely t

32、o increase their equity investment in the company. 財務 Review post year-end correspondence with suppliers to identify if any others have threatened legal action or refused to supply goods. Discuss with the finance director whether the sales director has yet been replaced and whether any new customers

33、 have been obtained to replace the one lost. 運營 Enquire of the lawyers of Strawberry as to the existence of any additional litigation and request their assessment of the likely amounts payable to the suppliers. 法律 Perform audit tests in relation to subsequent events to identify any items that might

34、indicate or mitigate the risk of going concern not being appropriate. Review the post year-end board minutes to identify any other issues that might indicate further financial difficulties for the company. Consider whether the going concern basis is appropriate for the preparation of the financial s

35、tatements. Obtain a written representation confirming the directors view that Strawberry is a going concern. 其他Procedures the auditor should adopt in respect of auditing accounting estimates include: Enquire of management how the accounting estimate is made and the data on which it is based. Determi

36、ne whether events occurring up to the date of the auditors report (after the reporting period) provide audit evidence regarding the accounting estimate. Review the method of measurement used and assess the reasonableness of assumptions made. Test the operating effectiveness of the controls over how

37、management made the accounting estimate. Evaluate overall whether the accounting estimates in the financial statements are either reasonable or misstated. Obtain sufficient appropriate audit evidence about whether the disclosures in the financial statements related to accounting estimates and estima

38、tion uncertainty are reasonable. Obtain written representations from management and, where appropriate, those charged with governance whether they believe significant assumptions used in making accounting estimates are reasonable.Procedures during the inventory count Observe the counting teams of Li

39、ly to confirm whether the inventory count instructions are being followed correctly.observe the procedures for identifying and segregating damaged goods are operating correctly. Observe the procedures for movements of inventory during the count, to confirm that no raw materials or finished goods hav

40、e been omitted or counted twice. Select a sample and perform test counts from inventory sheets to warehouse aisle and from warehouse aisle to inventory sheets. Select a sample of damaged items as noted on the inventory sheets and inspect these windows to confirm whether the level of damage is correc

41、tly noted. Obtain a photocopy of the completed sequentially numbered inventory sheets for follow up testing on the final audit. Discuss with the warehouse manager how he has estimated the raw materials quantities. To the extent that it is possible, re-perform the procedures adopted by the warehouse

42、manager. Identify and record any inventory held for third parties (if any) and confirm that it is excluded from the count.Audit procedures using CAATSThe audit team can use audit software to calculate inventory days for the year-to-date to compare against the prior year to identify whether inventory

43、 is turning over slower, as this may be an indication that it is overvalued.Audit software can be utilised to produce an aged inventory analysis to identify any slow moving goods, which may require write down or an allowance.Cast the inventory listing to confirm the completeness and accuracy of inve

44、ntory.Audit software can be used to select a representative sample of items for testing to confirm net realisable value and/or cost.Audit software can be utilised to recalculate cost and net realisable value for a sample of inventory.CAATs can be used to verify cut-off by testing whether the dates o

45、f the last GRNs and GDNs recorded relate to pre year end; and that any with a date of 1 January 2013 onwards have been excluded from the inventory records.CAATs can be used to confirm whether any inventory adjustments noted during the count have been correctly updated into final inventory records.Pr

46、ocedures the auditor should adopt in respect of auditing this accrual include: Agree the year-end income tax payable accrual to the payroll records to confirm accuracy. Agree the subsequent payment to the post year-end cash book and bank statements to confirm completeness.Recalculation of the accrua

47、l to confirm accuracy. Review any disclosures made of the income tax accrual and assess whether these are in compliance with accounting standards and legislation.Audit procedures for continuous (perpetual) inventory counts The audit team should attend at least one of the continuous (perpetual) inven

48、tory counts to review whether the controls over the inventory count are adequate. Consider attending the inventory count at the year end to undertake test counts of inventory from records to floor and from floor to records in order to confirm the existence and completeness of inventory. Review the a

49、djustments made to the inventory records on a monthly basis to gain an understanding of the level of differences arising on a month by month basis. If significant differences consistently arise, this could indicate that the inventory records are not adequately maintained. Discuss with management how

50、 they will ensure that year-end inventory will not be under or overstated.Procedures to undertake in relation to the uncorrected misstatement The extent of the potential misstatement should be considered and therefore a large sample of inventory items should be tested to identify the possible size o

51、f the misstatement. The potential misstatement should be discussed with Clarinet Cos management in order to understand why these inventory differences are occurring. The misstatement should be compared to materiality to assess if the error is material individually. If not, then it should be added to

52、 other errors noted during the audit to assess if in aggregate the uncorrected errors are now material. If material, the auditors should ask the directors to adjust the inventory balances to correct the misstatements identified in the 2014 year end. Request a written representation from the director

53、s about the uncorrected misstatements including the inventory errors. Consider the implication for the audit report if the inventory errors are material and the directors refuses to make adjustments.Receivables circularisation procedures 步驟 Obtain a list of receivables balances, cast this and agree

54、it to the receivables control account total at the end of theyear. Ageing of receivables may also be verified at this time. Determine an appropriate sampling method (cumulative monetary amount, value-weighted selection, random, etc.) Select the balances to be tested, with specific reference to the c

55、ategories of receivable noted below. Extract details of each receivable selected from the ledger and prepare circularisation letters. Ask the chief accountant at Seeley Co (or other responsible official) to sign the letters. The auditor posts or faxes the letters to the individual receivables.Substantive procedures to confirm valuation of inventory