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AAAMarOverviewoftheAAA11232344KeyEthicandProfessionalAccountingissues-Risk,Evidence/AuditproceduresGroupauditriskNon-auditAuditreviewandcompletion,Practicemanagements,Currentissue,EthicandProfessionalProfessionalcompetenceanddueProfessionalSelf-interestthreatIntimidationthreatAdvocacythreatSelf-reviewthreatFamiliaritythreatManagementthreat

Financialinterestin /MoneytransactionwithAnythingthatcreatepressureonPromote ’sAuditourownTooaccepting 'sEthicandProfessionalProfessional=Professionalcompetenceanddue=CanyoudoitRole=TaxWhatyouneedtodo= Canyoudoitproperly=Knowledge?Experience?EthicandProfessionalEthical標(biāo)準(zhǔn)分值4【1】識(shí)別道 (self-interestthreat)+原因(financial【1】評估重要程度(significantthreat)+原因(數(shù)字materiality,沒有數(shù)字【1】Code規(guī)定(prohibitor【1】措施(declineorapplyProfessionalissues標(biāo)準(zhǔn)分值3【1】專 和職責(zé)(professionalroleand【2】需要考慮的因素&applytocaseloanapplication&注意：這不是“大家來EthicandProfessional2018/9CommentontheethicalandprofessionalissuesraisedinrespectoftheauditofTurnerCoandmendanyactionstobetakenbytheauditfirm.(8marks) portfolioasanauditmanageratCoram&CoalsoincludesTurnerCowhichisalistedfinancialinstitutionofferingloansandcreditfacilitiestobothcommercialandretailcustomers.Youhavereceivedan fromtheauditsupervisorwhoiscurrentlysupervisinginterimtestingonsystemsandcontrolsinrelationtotheauditfortheyearending31October20X8.The givesthefollowingdetailsforyourconsideration:Oneoftheauditteammembers,JanetteStott,hasprovisionallyagreedtotakeoutaloanwithTurnerCotofinancethepurchaseofadomesticresidence.Theloanwillbesecuredonthepropertyandthe ’sbusinessmanagerhaspromisedJanettethathewillensurethatshegets‘theverybestdealwhichthebankcanoffer.’EthicandProfessionalLoanfrom 客戶借錢給審計(jì)Q1:IstheamountA1:No,noA2:Yes→Q2:Is aA1:No,notA2:Yes,normalcourseofbusiness.→Q3:Normallendingprocedures?NospecialA1:Yes,allowed,&applyA2:No,self-interestthreat&evaluateEthicandProfessionalSuggestedTurnerco,alistedfinancialinstitutionprovidesloantoauditorisconsideredtobenormalcourseofbusiness.However,thismaycreateself-interestthreat,duetofinancialinterestinaudit.Significancedependsonamountoftheloanandwhetheritisunderlendingprocedures.Ifamountmaterial offersspecialdiscountforsuchloan,thereissignificantself-interestAuditteammembershouldnotacceptsuchaloanorguarantee .Hence, beexcludedfromauditThekeyissueiswhether‘theverybesttermswhichthebankcanoffer’fallwithinTurnerCo’snormallendingprocedures,andtermsandconditions.Ifthisisthecase,theloanisacceptable,andsafeguardshouldbeapplied,e.g.reviewtheworkdone.EthicandProfessional常見的案例情LoantransactionswithClosebusinessPurchaseofgoodsandservicesfromLongassociationof nelwithan (includingpartnerCompensationandevaluationpolicies=PerformancebonuslinkedtoCorporatefinancePreparingaccountingrecords=Accountingservice,Valuationservice,TaxationFees=Contingentfee,Lowballfee,Largefee,Overduefee,ReferralGiftsandCustody ofReviewofinternalcontrolsystem,AssuranceonAccountingissues-Risk,Evidence/Audit涵蓋大部分題型:RiskMatterstoconsiderEvidenceReportingNon-audit標(biāo)準(zhǔn)分值4【1】計(jì)算重要性水平并得出結(jié)論Calculateandconcludeon【1 相關(guān)的會(huì)計(jì)準(zhǔn)則Staterelevantaccounting【1】識(shí)別風(fēng)險(xiǎn)或錯(cuò)Identifyriskormisstatementapplyto【1】評估對財(cái)報(bào)的影響EvaluationimpactonfinancialIASInitialmeasurement:1234(AssetSubsequentmeasurement:Costmodel,Revelationmodel(AnnualDe-資本化/費(fèi)用化，重估增值/遞延所得IASInitialmeasurement=PPE+TransactioncostSubsequentmeasurement:Costmodel,FVmodelChangesinuse2019/9&12Q2aii公允價(jià)值模型，資產(chǎn)用途轉(zhuǎn)IASCapitalization資本化/費(fèi)用IASIndicatorofimpairment:External,ImpairmenttestforIndividualasset:ImpairmenttestforCash-generatingunits(CGUs):Allocation,Dismantlingcost2021/6Reversalofimpairmentloss:DepreciatedHistoricalCost2019/9&12Q2a減值跡象，減值測試，資產(chǎn)IAS無形資產(chǎn)的取得方式&InitialSeparateAcquiredinbusinessInternallygenerated:R&DFinitelifevsIndefinite-Costmodel,RevelationDe-研發(fā)費(fèi)用，使IASLowerofcostand價(jià)值，數(shù)IASMeasurementofBiologicalassetMeasurementofAgricultureproduce生物資產(chǎn)的計(jì)量，使用專IASMeasurementofProvisionandReimbursementContingent預(yù)計(jì)負(fù)債 賠付，公司重IFRS-Reclassification-Accountingtreatment 2019/9&12Q1abIFRSIASRecognitionconditionGrantrelatedtoeGrantrelatedtoAssetRepaymentofernment確認(rèn)條件，計(jì)IFRSFairvaluemeasurement:Principalmarket&MostadvantageousmarketSpecimen1Factorstoconsiderindetermininghighestandbestuse:Specimen1Legally最佳用途假設(shè)，使用專IFRSIssueshare:Buyshare:FVTPL,Buybond:Amortisedcost,FVTOCI,Issuebond:Amortisedcost, 債FairvaluehedgevsCashflow套期會(huì)IFRSIFRSIdentifyingaSiglelesseeaccountingmodel&Initialrecognitionandmeasurement:Right-of-useasset,LeaseSubsequentSaleandleasebackDrCash-DrRightofuseasset-CV*LeaseCrAsset-CVoftheassetCrLeaseliability-PVofleaseCr/DrGainorlossondisposal-Balancingfigure2019/9&12Q2aiIASCurrenttaxDeferredtaxTaxbaseofanasset= 可予稅前除的金Taxbaseofaliability= TaxbaseofereceivedinadvanceIASIASMostdefinedbenefitpensionnsareindeficit(i.e.theobligationexceedsthenassets).However,somedefinedbenefitpensionnsdoshowasurplus.Ifadefinedbenefitnisinsurplus,IAS19statesthatthesurplusmustbemeasuredatthelowerof:theamountcalculatedasthetotalofthepresentvalueofanyeconomicbenefitsavailableintheformofrefundsfromthenorreductionsinfuturecontributionstothen.(effectivelytherecoverableamountofthen)Thisisknownasapplyingthe‘a(chǎn)ssetceiling’.Itmeansthatasurpluscanonlyberecognisedtotheextentthatitwillberecoverableintheformofrefundsorreducedcontributionsinthefuture.Inotherwords,itensuresthatthesurplusrecognisedinthefinancialstatementsmeetsthedefinitionofan'asset'(aresourcecontrolledbytheentitythatwillleadtoaprobableinflowofeconomicbenefits).Anyimpairmentlossischargedimmediaytoothercomprehensivee.IFRSOtherIASIASIASIFRSIASIASIFRSIFRSIFRSAccountingissues-Risk,Evidence/Audit2019/9&12EvaluatethesignificantauditriskstobeconsideredinnningtheGroupauditforthefinancialyearending30September20X5.GiventhennedGrouprestructuring,youshouldevaluateauditrisksrelatingtodisclosureissuesatthisstageintheauditnning.(24marks)IdentifytheadditionalinformationwhichshouldberequestedfrommanagementinordertoeffectivelyauditthedisposalofPrimalBurgersCo,andexinwhythisinformationisrequired.(4Accountingissues-Risk,Evidence/AuditExistingGroupInformationabouteachoftheGroupcompaniesisgivenRyderCoisthe ofthegroup,a ,whichdoesnottrade,andholdssharesineach Accountingissues-Risk,Evidence/AuditMondaysCoffeeCooperatesoneoftheleadingcoffeeshopchainsinthecountryunderthe‘MondaysCoffee’brand.Itenjoysastrongmarketshareandoperatesmorethan1,200coffeeshopsacrossthePrimalBurgersCooperatesover150fastfoodrestaurants.Inrecentyears,revenuefromBurgersCohasdeclined,butitstillprovides y30%ofGroupInspiral sCoisasuccessful business,withover75 sacrossthecountry.TheacquiredInspiral sCothreeyearsago,aspartofagrowthstrategybasedonAccountingissues-Risk,Evidence/AuditGroupPartlytoprovidesomeofthefinanceneededfortherestructuring,andpartlybecauseofitsdecliningrevenue,theGroupisnningtodisposeofPrimalBurgersCo.TheboardapprovedthisdisposalinMarch20X5.Vendor’sduediligencehasbeencarriedoutbyUsami&Co,afirmofCharteredCertifiedAccountants.Usami&Coconductedanindependentreviewofthe ’sfinancialpositionandfutureprospectsandproducedareportontheirfindings,whichismadeavailabletopotentialbuyers.Attoday’sdate,severalpotentialbuyershaveexpressedaninterestandtheGroupexpectsthatthedisposalwilltakecejustafterthefinancialyearend.Accountingissues-Risk,Evidence/AuditSuggestedAuditDisposalofPrimalBurgersCo– nneddisposalshouldbeclassifiedasheldforTheconditionsmanagementiscommittedto ntotheassetisavailableforimmediateanactiveprogrammetolocateabuyeristhesaleishighlyprobable,within12monthsofclassificationasheldfortheassetisbeingactivelymarketedforsaleatasalespricereasonableinrelationtoitsfair–actionsrequiredtocompletethe nindicatethatitisunlikelythat nwillbesignificantlychangedorwithdrawn.Assumingthattheconditionsaremet,whichseemslikelygiventhattheboardapprovedthesaleinMarch20X5andthatpotentialpurchasershavealreadyexpressedaninterest,theassetsheldinthedisposalgroupshouldbereclassifiedasNCAHFSandmeasuredatthelowerofcarryingamountandfairvaluelesscoststosell.Theassetsshouldnotbedepreciatedafterreclassification.Accountingissues-Risk,Evidence/AuditInaddition,assetsandliabilitiesheldforsaleshouldberecognised yfromotherassetsliabilitiesinthestatementoffinancialRisk=AssetsarenottreatedasadisposalgroupforthepurposeofIFRS5andhave tobeRisk=AssetsarepossiblyovervaluedifanimpairmentreviewhasnotbeenperformedorassetsmeasuredatthelowerofcarryingamountandfairvaluelesscoststoRisk=AssetsandliabilitiesheldforsaleshouldberecognisedseparayfromotherassetsandliabilitiesinSOFP,andiftheyhavenotbeenappropriayreclassified,thennon-currentassetsandliabilitieswillbeoverstated.Accountingissues-Risk,Evidence/AuditDisposalofPrimalBurgersCo–ADOisdefinedasacomponentofanentitywhicheitherhasbeendisposedoforisclassifiedasheldforsale,andrepresentsaseparatemajorlineofbusinessorageographicalareaofGiventhematerialityofPrimalBurgersCoanditsproductsbeingaseparatelineofbusinesstheGroup,itmeetsthedefinitionofaDO.Thepost-taxprofitorlossoftheoperationandthepost-taxgainorlossrecognisedonthemeasurementtofairvaluelesscosttoselloronthedisposalofthedisposalgroupshouldbepresentedasasingleamountonthefaceInaddition,detaileddisclosureofrevenue,expenses,pre-taxprofitorlossandrelatedetaxesisrequiredeitherinthenotesorinSOCIinasectiondistinctfromcontinuingoperations.Risk=PrimalBurgersCoisnottreatedasDOinaccordancewithIFRSRisk=Necessarydisclosuresarenotmade,leadingtoincorrectpresentationofGroupprofitlossandpleteinformationinthenotestotheGroupfinancialAccountingissues-Risk,Evidence/AuditAdditionalinfoandObtainindividualFSofPrimalBurgersCo,toascertainthedetailoftheamountsrecognised;thiswillassisttheauditteaminnningtoauditthecompliancewithmeasurementanddisclosurerequirementsofIFRS5.FileacopyofduediligencereportproducedbyUsami&Co,toascertainkeyfindings,e.g.valuationsofassetsandliabilities;thiswillhelpinnningtoauditthemeasurementofthedisposalgroupandwhetheranyimpairmentshouldberecognised.Understandthemanagement’srationaleandhowthedisposalfitsinwiththeGrouprestructuringasawhole,byreferencetodetailsofBODminutesofmeetingatwhichapprovalwasgivenforthedisposal.InformationregardingthepotentialacquirersofPrimalBurgersCoandthestageofnegotiations;thiswillhelptheauditteamdevelopanexpectationastowhetherthedisposalislikelytotakeceaftertheyearendandthepotentialsalesprice.Obtainacopyofmanagement’sassessment/workingsoftheimpactontheGroup’sfinancialonthesaleofPrimalBurgersCoandtheoverallimpactoftherestructureoftheBusinessRevenue,Profit,Cashflows,Reputation,把自己當(dāng)成公司的Director，而不是Auditor，不要出現(xiàn)會(huì)計(jì)準(zhǔn)則RiskofMaterialMisstatement=【1】計(jì)算重要性水平并得出結(jié)論Calculateandconcludeon【1 相關(guān)的會(huì)計(jì)準(zhǔn)則StateRelevantaccounting【1】識(shí)別風(fēng)險(xiǎn)或錯(cuò)報(bào)IdentifyriskorMisstatementapplyto【1】評估對財(cái)報(bào)的影響EvaluationimpactonfinancialAuditrisk=WithWithoutGroupauditRMM–IndividualFSRMM–ConsolidatedFSOverseassubsidiaries'FSinforeigncurrency-translationInitialandsubsequentmeasurementofgoodwillConsolidationofeandexpensesofnewlyacquiredsubsidiaryAuditofconsolidationschedule,e.g.Intra-grouptransactionsAuditofdisposalofsubsidiaryDifferentfinancialyearendsDifferentaccountingpoliciesAuditofAssociateDetection1styearaudit:lackofexistingknowledge/openingbalanceSubsidiaryisauditedbycomponentauditor,relyonworkAuditQualifiedopinion根據(jù)原因&程度決定審計(jì)意見類KAM&EOM&OM&OI&GCuncertainty在審計(jì)報(bào)告中的位置和內(nèi)Prioryearproblem去年的問題，今年發(fā)CriticizeauditOtherReportoninternalcontrolReportongeneralKeyAuditMattersparagraph-當(dāng)期審計(jì)過程中，依審計(jì)師判斷，有重大意義的事項(xiàng)（判斷的領(lǐng)域，期間發(fā)生的重大事項(xiàng)），比如GoodillipairentEmphasisofMatterparagraph–Highlightimportantthingsrelatedtoaccountingwhichhavebeenaccountedforcorrectly強(qiáng)調(diào)會(huì)計(jì)面的事項(xiàng)，而且是記對了OtherMatterparagraph–審計(jì)過，去年是其 審計(jì)OtherInformationparagraph–年報(bào)中的信息與財(cái)報(bào)不MaterialUncertaintyRelatedtoGoing存在Goingconcernuncertainty，且已經(jīng)充分披露，使用這個(gè)段落，通常放在KAM前TypeJustifyauditopinion&Impacton會(huì)計(jì)準(zhǔn)則為什么給這個(gè)意見報(bào)告怎么變Basisparagraphimmediayafterparagraphtoexinmisstatement/limitation,Headingshouldbe,Stateexceptforthis,FSareT&F,etc.

TypeCriticizeauditreport 2018/3&6Criticallyappraisetheextractfromtheauditor’sreportontheconsolidatedfinancialstatementsoftheBlackmoreGroupfortheyearended31March2018.YouareNOTrequiredtore-drafttheextractfromtheauditor’sreport.(12marks)YouarethemanagerresponsiblefortheauditoftheBlackmoreGroup(theGroup),alistedmanufacturerofhighqualitymusicalinstruments,fortheyearended31March2018.ThedraftfinancialstatementsoftheGrouprecognisealossbeforetaxof$2·2million(2017–lossof$1·5million)andtotalassetsof$14·1million(2017–$18·3million).Theauditisnearingcompletionandtheauditseniorhasdraftedtheauditor’sreportwhichcontainsthefollowingextract:KeyauditTheGroupentersintostructuredforwardcontractstopurchasematerialsusedinitsmanufacturingprocess.ThevaluationoftheseunquotedinstrumentsinvolvesguessworkandisbasedoninternalmodelsdevelopedbytheGroup’sfinancedirector,ThomasBolin.MrBolinjoinedtheGroupinJanuary2018andthereissignificantmeasurementuncertaintyinvolvedinhisvaluationsasaresultofhisinexperience.Asaresult,thevaluationofthesecontractswassignificanttoouraudit.CustomerIncludedinreceivablesshownontheconsolidatedstatementoffinancialpositionisanamount$287,253fromacustomerwhichhasceasedtrading.OnthebasisthattheGrouphasnosecurityforthisdebt,webelievethattheGroupshouldmakeafullprovisionforimpairmentof$287,253therebyreducingprofitbeforetaxationfortheyearandtotalassetsasat31March2018bythatamount.QualifiedopinionarisingfromdisagreementaboutaccountingInouropinion,exceptfortheeffectonthefinancialstatementsofthematterdescribedabove,thefinancialstatementshavebeenproperlypreparedinallmaterialrespectsinaccordancewithIFRSEmphasisofWedrawattentiontothelossbeforetaxof$2·2millionfortheyearended31March2018andthattheGroupisinbreachofloancovenantswithitskeyfinanceproviders.AmaterialuncertaintythereforeexistswhichmaycastdoubtontheGroup’sabilitytocontinueasagoingconcern.Ouropinionisnotmodifiedinrespectofthismatter.SuggestedThesectionshouldincludeanintroductionstatingSignificanceofKAM=Keyauditmattersarethosemattersthat,inourprofessionalwereofmostsigni?canceinourauditofthe?nancialstatementsofthecurrentAuditorisnotformingaseparateopinionontheitemsidentifiedasKAM=Thesematterswereaddressedinthecontextofourauditofthe?nancialstatementsasawhole,andinformingouropinionthereon,andwedonotprovideaseparateopiniononthesematters.Thisisanareaofsignificantauditjudgementwithahighriskofmaterialmisstatement,henceinclusionasKAMisappropriate.Auditorshouldfythesizeandsignificanceoftheissueand ineditsDescribehowtheKAMwasaddressedintheBesides,thereportshouldnotrefertotheGroup’sfinancedirectorbynameandshouldnotimplycriticismofhimasresultofhisinexperience.Theuseoftheword‘guesswork’isinappropriateand287,253/2,200,000=13%ofLoss,materialto287,253/14,100,000=2%ofTA,materialtoThisisamaterialbutnotpervasivemisstatement,qualifyexceptforopinionisHowever,thedetailsofthematerialmisstatementshouldnotbeincludedintheKAMatallbutbegiveninthebasisforqualifiedopinionOpinionTitle=Qualified2)Sequence=Theopinionparagraphshouldbeclearlycrossreferencedtothe‘BasisforQualifiedOpinion’paragraphwhichshouldbecedimmediaybelowtheopinionparagraphandshouldclearlydescribetheissuewhichhasgivenrisetoaqualifiedopinion.AsforGCuncertainty,auditor’sreportshouldnowincludeaspecificsectionheaded‘MaterialUncertaintyRelatedtoGoingConcern’immediayafterthebasisforopinionparagraphandbeforetheKAMsection.ThematerialuncertaintyrelatedtogoingconcernshouldbecrossreferencedclearlytothenotewherethedirectorshavegivendetailsoftheDueOperationalandITduediligence生產(chǎn)經(jīng)營，IT風(fēng)險(xiǎn)方Peopledue 人員方面（合同終止成本，整合成本等Environmentalduediligence環(huán)境，安全等方Forensicaudit收 +量化損Useaccountingandauditingknowledgetogatherevidenceforlegal ，類似于審計(jì)，通 的財(cái) 發(fā)現(xiàn)將用 或協(xié)助解決糾AssuranceonExaminationonPFIForecastSOCFForecastSOPLForecastSOFP2019/9&12mendtheprocedureswhichshouldbeperformedinorderto fytheinventoryloss;and(6EvaluatethedeficienciesinBeyerCo’sinternalcontrolsystem,and inhowcontributedthefraud,togetherwithmendationstopreventsuchafraudreoccurring.(6Havingacceptedtheengagement,theoperationsdirectorprovidesyouwiththesummaryoftheallegationsofthewhistle-‘Thewarehousemanagerhasbeenworkingwithoneofthesalesrepresentativestodispatchgoodstoafictitiouscustomerwhichthewarehousemanagerhascreatedonthedispatchsystem.Thesalesordersareinputbythesalesrepresentativeintothedispatchsystemwhichisnotdirectlylinkedtotheinvoicingandaccountingsystem.Afterthegoodsdispatchnoteisissuedbythewarehousemanagerandthegoodsleavethewarehousefordeliverytothefictitiouscustomer,thesalesrepresentativecancelstheoriginalorder.Thewarehousemanagerreversesthedispatchimmediaysothatthedailyreportoninventorymovementusedtogenerate sinthesalessystemdoesnotreflectmovementofthegoods.Thesalesrepresentativetakesdeliveryofthegoodsattheaddressofthefictitiouscustomerandthensellsthepartsontheinternet,splittingtheproceedswiththewarehousemanager.Thewarehousemanagersupervisesandparticipatesinallinventorycountsandthiswayensuresheisabletoadjusttherecordsofinventorytodisguisethemissingitems.TheoperationsdirectorhasinformedyouthatnoauthorisationisrequiredforeitherthecancellationordersorthereversalofdispatchSuggestedInterviewsales,warehouseandaccountingstafftoidentifythesystem ceforcreatingaorderandforsettingupcustomerswithinthesalesandinventoryObtainreconciliationofall cedincludingcancelledordersto sraisedtothetotalofall cedbut dtoestablish umpotentialvalueoftheArrangetoconductafullinventorycounttoidentifydiscrepanciesbetweentheinventoryandphysicalInvestigaterecordsofinventorywrittenofftoidentifypossibleattemptstodisguisetheIdentifywhichcustomersthoseordersareassignedtoandverifytheirexistencewithintheinvoicingsystemand,wherepossible,theirregisteredbusinessaddresstoensuretheyaregenuineFromthis,identifyfictitiouscustomersandreconciletheircancelledorderstothediscrepanciesObtaininventorylistingtoidentifythecostofthepartsstolenandcalculatethecostoftheinventoryidentifiedasrelatingtothefictitiouscustomerorders.ControlLackofsegregationofdutiesandmonitoringoforderThereisalackofinternalcontroloverthewarehouseteam,particularlyinrelationtoauthorisationapprovalofThewarehousemanagerhavingtheabilitytocreatenewcustomersonthesystemwithoutauthorizationhasallowedfictitiouscustomerstobecreated.Theability