F8總結(jié)材料之SP和TOC

1、TOCTests of con trol /test /effect iven ess /con trols(in preve nti ng, detect ing orcorrecting material misstatements)Substantiveprocedure s /detectingmaterialmisstatements/at the assertionlevel.bala nces, disclosures and substa ntiveThey include tests of detail of transactions, an alytical procedu

2、res.案例題盡量結(jié)合實(shí)際經(jīng)驗(yàn)Man ageme nt letter format:地址The Directors(公司名稱)Blake Co(121 happy ) Street(Happy) Town5 December 2013起頭Management letterDear SirsWe write to bring to your attention(題目 requirement 容)正文結(jié)尾If you require any further information on the above, please do not hesitate to contact us.Yours fa

3、ithfully（審計(jì)公司名稱）Sales system TOC存在問(wèn)題：Authorizati on人不對(duì)： not senior eno ugh/not sufficie ntly senior (without eno ughexpertise and experie nee), not sufficie ntly in depe ndentCredit limit 的問(wèn)題：too high ,irrecoverable debt/too low, loss of salesCon trol的方法：為防止 customer 發(fā)錯(cuò)單： an order acceptanee is auto

4、matically sent to the customer bymail/email con firm ing the goods ordered and a likely despatch date.為防止遺漏處理：Flag 標(biāo)記(sales order ) as (fulfilled)為防止拖延 outstanding receivable ,sales order;為了避免拖延所設(shè)期限predeterminedperiod+為保證所設(shè)期限有效執(zhí)行Credit limit, outsta ndi ng sales order, discou nt level等等很多東西 都需要 revi

5、ew, 且 on a regular basis ，且 by a responsible official(fi nan cial director.)TOC方 法：IT systemFictitious例 ITest data could be used to attempt tosystem 的反應(yīng)-一般是針對(duì)電腦系統(tǒng)的toc.used, process orders via the website for itemswhich are not curre ntly held ininven tory. The orders should be flaggeds as being out

6、of stock and in dicate anapproximate waiting time.加上 With the client permission 更為細(xì)致對(duì)于電腦系統(tǒng)的就是跟它反著來(lái)然后看系統(tǒng)的 反應(yīng)，女口over agreedcredit limit例 2 The auditor should attempt to enter an order for a fictitious customer account number. The system should not accept this order.例 3 With the client' s permissio

7、n, attempt to enter a sales orderwhich will take a customer over the agreed credit limit, the system should reject the order.找人:Discuss with()()For a sample of new customers accepted in the year, review theauthorisationof the credit limit, and ensure that this was performedby a responsible official.

8、enquiry of () as toDiscuss with members of the sales team()the process for setting sales discounts.找一手證據(jù):找樣本的目 的/樣本數(shù)量大?。ㄈ纾簉eport ）Approval/si gn atureIn spect a sample of (credit applicati on)from(eg:creditage ncy) +Review/view()authority/sig natureFor evidence of authorization, for example the sig

9、natureReview report of (eg: credit limit) 或者 file of (.) for evidence of(report 可以反映的容 review by)舉例例 1. Select a sample of despatches by例 1 Review the sales discount report for evidence of review by the sales director.couriers and ask Pear for proofofdespatch by view ing customersig natures.例2. Revi

10、ew a sample of authorized capitalexpenditure forms and identify if thecorrectsignatoryhas authorizedthem.例 3Review a sample of salesinvoicesforevidenceofauthorizationby a responsibleofficial of any discounts allowed.例2. Review the file of reconciliationstoensure that they are being performed ona reg

11、ular basis and that they have beenreviewed by a responsible official.例 3. Review a report of master data changes and review the authority of those making amendments.AgreeInspect a sample of (credit=) applicati on)from(eg:creditage ncy) +選擇1 follow through(核對(duì)的 item 女口： current price /credit limit)(it

12、em所在地如：in thecurre nt price list/used in the sales system)選擇 2 and agree that(期待的目的如： credit limit used in the sales system is correct)=例 1: Inspect a sample of processed credit applications from the credit agency and follow through the credit limit agreed tothe sales system.例2 Obtain a copy of the

13、current price list and agree ( for a sample of invoices ) that relevant/current prices have been used.例 3 Inspect a sample of GDNs and agree that a valid sales invoice has been correctly raised.To (warehouse)Observe()process by ()to ascerta in /assess Visit a warehouse and observe the goods despatch

14、 process to assess whether all goods are double checked againstthegoods despatch note (GDN) and the despatch list prior to sending out.Cash system11.06 Q1.c & 10.06 Q3.b顧客郵寄現(xiàn)金付款ObjectiveCo ntrolMitigate risk親屬關(guān)系Members who are related should notThis should reduce the risk ofpermittedto work in t

15、he samestaff colludi ngand being able toRelated!departme nt whereby theycan breachcommit a fraud without easilysegregati on of duty con trols.being discovered.Allcash收到、記錄現(xiàn)金時(shí)的審核：至少兩人receivedEg1. Cash receiptshould beEg1. This should reducethe riskareprocessed by two members of staff.of one personbei

16、ng able to stealcorrectlycash receipts.In order to commitrecorded inEg2. A second memberof the accountsthe fraud these two members oftheteam orstaff in depe ndent ofthestaff would n eed to collude andacco un ts.acco untsteam should assist withto avoid detection,also colludethe mail, one should ope n

17、 the postwith other membersof the financeand the sec ond should record XX inteam.XX.Eg2. ToC: observe the mailopening process to assess if thecontrolisoperat ingeffectively.Double check :保證準(zhǔn)確、及時(shí)發(fā)現(xiàn)錯(cuò)誤Mon thlycustomer statements should? If customers receive regularbe sent out promptly to allstatements

18、then they would be incustomers.The salesledgera positionto flag to XX thatsupervisor should review to ensurethere was adelay in theirthat all customers have bee n sent stateme nts.payments being credited to their acco un ts. This should the n flag a possible teeming and lading 'fraud.* Bank reco

19、n ciliati onshould bereviewed by a resp on sible official (differe nt to the preparer of the recon ciliatio n)on a regular basis.Any unrecon ciled amounts should be promptlyin vestigatedandresolved.PS: Bank reconciliations should be performed mon thly.*銀行調(diào)節(jié)表很重要的原因A small unrecon ciled amount can act

20、uallyreprese nt two largebala nceswhich almost canceleach other out and hence could in dicatesig ni fica ntproblemswith cash and bank.ToC:Review thefileofrecon ciliati ons for evide nee of regular performanee and review by senior finance team members.輪崗：?jiǎn)T工不敢欺詐On a regular basis staff within the fina

21、nce departme nt should rotate duties .If staff members know that theywill n eed to rotate their rolesthe n they will beless in cli nedto commit fraudulent activities, as the chances of them being caught in crease sig ni fica ntly.建立審部門(mén)Man ageme ntshouldcon siderestablish ingan internalauditdepartmen

22、t which couldassess theeffective nessofcon trolsandidentify areas of weakness, as well asperformspecificfraudin vestigati onsHelptodeteremployeescommitt ingfraud.Fraudule ntactivities would be more likely to be ide ntifiedquicklyasin ternalcon trolswouldbetested.Co ntrolToC現(xiàn)金儲(chǔ)存（題目中提到的）is notadequate

23、 forsecurity ofStored in a fire proof safe；Access to the safe should berestrictedtosupervisedin dividuals.Enquire of management where the cash receiptsnot ban ked arestored. Inspect the location to en sure cash is suitably secure.適當(dāng)安全（considerabl e cash receipts 女口果 bank every several days）Cash and

24、cheques should be ban ked every dayIn spect the pay in g-i n-books（里面記錄了每天存入銀行的錢）tosee if cash and cheques have been banked daily or less frequently.Review bank statementsagainstthe cash received log to confirm allamountswereban kedpromptly.記賬Segregati on of duties.【Risk:Cashier incorrectlyenter are

25、ceipt ,and this could have impact on both （題目中一起做的兩個(gè)賬戶 ），and this weak segregation of duties could increase the risk of teeming and lading.】（原來(lái)那個(gè)人）update（其中一個(gè)賬戶）（另 外一個(gè)具體的人如團(tuán)隊(duì)中一個(gè)成員） update（另一個(gè)賬戶）Observetheprocessforrecord ing cash received log to the releva nt ledgers and note if the segregatio nof d

26、uties isoccurri ng.Payroll system有的在requieme nt 中雖然寫(xiě)了ide ntify and expla in，但是后面有一個(gè)小問(wèn)給你繼續(xù)expla in 這時(shí)前面就直接ide ntify 就好Deficie ncy（explai n 部分）control打卡過(guò)程Abse nt worker/moreReconcile number of workers physicallytha n he deserveprese nton the production line with thenumber of employees logged in record

27、edin the recording system加班問(wèn)題In order to getAll overtime should be authorised,more payme nt/logeither by（ the shift manager）out lateauthorizing(an estimated amount of overtime ) prior to the( 工作容 )commencing or by the manager confirming the( recorded hours in the payroll department computer system)

28、after the shift has been completed密碼Easily guessThe code word should be based on a random sequence of letters and numbers and changed on a regular basis.怕遺漏tag the emails with a receipt and for those without a receipt ,ask the payroll departme nt for reply in time to ensure that all emails are actua

29、lly received怕支付給虛擬員工 Dumm' employees /Fictitious staffPrior to net wages being sent to the bank for payment,( 責(zé)任人 the financial accountant) should review and authorize it to ensure that it is correctsegregati on of duties, HR who add the new staff to the staff list, the one who pay通用of duties/si

30、g nto takeApproval/nu mbercon secutively/segregati onresp on sibility/review by senior regularlySP萬(wàn)能 procedure :Prese ntati on 1）在報(bào)表上的分類 2 ）披露對(duì)不對(duì)?Compare&lnquireRario:1）與同行比2 ）與往年比? Cast and agree?Subseque nt eve nts?Support ing docume nts?Con firmati on letter/e nquiry letterSend a（上面兩者）to（可以提供

31、信息的人）to obtain （ 想獲得的信息）Represe ntati on letterDiscuss with （responsiblepeople）about（ 討論的項(xiàng)目 ）to （討論的目的如：assess thereas on able ness of）and obta in a writte n man ageme nt represe ntati on letterconfirmin g（）SAP and compare（在流量中比較常用 ）:大致估算，如receivable days, estimatedrevenueAcco unts Receivable傾向于多記De

32、scribe substa ntive procedures the auditor should perform to con firm XX' s yearend receivables.給一個(gè)balanee，要判斷它是否真實(shí)公平地反映了事實(shí)找可能導(dǎo)致沒(méi)有真實(shí)反映的原因，及相應(yīng)的procedure原因Procedure年末賬目記混了（Cut of f 的問(wèn)題）1nspect the dates of a sample of goods despatched notes（GDN） before and just after the year end andfollow through

33、 tothedates of releva ntsales in voice and the dates recorded in thesales day book to en sure they are recorded in the correctaccounting period2.For the last day of the financial year and the first day of the newfinancial year,agree total sales income from ticket office recordstothe cash book and re

34、ceivables ledger ensuring they are recorded in the correct period.baddebt的provisi on不合理(違背 valuation )1n spect the aged receivables report to ide ntify anyslowmoving balances , discuss these with the creditcontrol managerto assess whether an allowa nee or write dow n is n ecessary.2. Review board mi

35、nu tes of XX to assess whether there are anymaterial disputed receivablesIf any balanceshave beenflagged as disputed by the receivable, the n these should bediscussed with management to identify whether a write down isn ecessary3. Discuss with (credit control manager)about (the provisionpolicy) to (

36、assess the reas on able ness of the policies)a nd obta ina writte nman ageme nt represe ntati onlettercon firm in g(that the policies are con sidered reas on able)存在虛假的入賬以 增加收入或者資產(chǎn)（違背 occurrenee ，故意）通過(guò)給顧客發(fā)詢證函來(lái)確認(rèn)balance的真實(shí)性1.詳細(xì)版 Select a sample ofthose customers with strange receivable balances(mater

37、ialbalance/smallbalance with large transaction/zeroor negative balance/balance with longaging),prepare theconfirmation letterwhich ask the customer for theamount due to the company and send to the management for review and approval then send them out and receive directly by the auditor簡(jiǎn)單版 Select a s

38、ample of customers then obtain direct confirmation from the (customer 的名稱 /)of the amounts due to (公 司的 名稱)using a receivables confirmation letter.2. (通過(guò)期后收到 cash 說(shuō)明receivable 是否真實(shí))Where direct confirmation is not possible, obtain evidence of cash receipt after theend of the financial year from the

39、bank statements of (公司名稱)post year follow through topre-year-e nd receivable bala nces3. Review after date sales day book for debit notes indicating that sales may have been overstated in the prior year.沒(méi)有發(fā)生的Select a sample of year-end receivablebalances and agree backtransaction 誤記入to valid support

40、 ingdocume ntati on of GDNand sales in voices in賬目（違背order to en sure existe nee and accuracyoccurrenee 無(wú)意）發(fā)生的 transactionSelect a sample of valid support ing docume ntati on of GDNs and忘記計(jì)入賬目in voicesand trace to the sales day book to en sure the（completeness 的問(wèn)題）complete ness在加總時(shí)加錯(cuò)了或把 control acco

41、unt和 sales ledger的 list 核對(duì) 1 .Cast the list of者在記賬時(shí)數(shù)目記receivables on the receivable ledger and agree to the total on the錯(cuò)了（ accuracy 的問(wèn)題）receivable ledgercontrol account.把 general ledger 和 sub-ledger 的 list 核對(duì) 2.0btain the detailed list sorted by the customer andagree to the total on the general led

42、ger andthe financial statements（從 list 至U total ）3.Select a sample of year-e ndreceivable bala ncesand agreeback to valid support ing docume nts of GDNs and sales in voices in order to en sure existe nee and accuracy（從 balanee 至U supporting documents）SAPCalculate average receivable days andcompare t

43、his to prioryear, investigate any significant differences. If there is unusual fluctuation, then discuss with the managers about the reas on.Prese ntati onI.Obtain the statement of financial position of（公司名稱）and ensure that the receivables amount is disclosed as a current asset2.Review the sales led

44、ger for anycredit bala ncesand discusswithmanagement whether these should be reclassifiedaspayables可以與provision 結(jié)合起來(lái)作為一種會(huì)計(jì)估計(jì)Provisi on& curre nt liability要recog nition:評(píng)估可能性+可以計(jì)量是否需要記Provision信息來(lái)源提供信息Discuss with management（issue 的容，女口： the nature of the dispute betweenSmoothbrush and the former

45、 finance director（FD）,）to ensure that a full understanding of the issue is obtained andto assess whether anobligation exist.Write to the company ' s lawyersto obtain their views as to theprobabilityofthe（負(fù)債發(fā)生的 scenario,如口 FD' s claim beingsuccessful.）Review board minutes and any company corr

46、espondence about（可能導(dǎo)致 liability的事項(xiàng)女口： the former FD ' s claims of unfair dismissal/the reorganization）to assess ifa reliable estimateof anypotential payments can be made.（是否能量化 ）to assess whether there is any evidence to （公司可能得為之支付的事情如：support the formerFD' s claims of unfair dismissal.）（評(píng)估可

47、能性）若要記，怎樣確認(rèn)figure的正確性拆成明細(xì)并給明細(xì)找到 supporting documentsObtain a breakdown of the （ 具體項(xiàng)目如： reorganization）provisionand for thecosts in cluded with in the provisi on, agree to support ingdocume ntati on toconfirm validityof those items.Recalculate 一下保證計(jì)算的正確性Cast the breakdown of the reorganization provis

48、i ontoen surearithmeticalaccuracy看期后的支付Obtain evidenee of subsequent payment from the bank statement or cash book after the year end toconfirm if the amount ofthe provisi onat the yeare nd date isreas on able.Represe ntati on letterObtain a written representationletter from thedirectors of （公司名稱）con

49、firming their view（公司采取做法的依據(jù)及做法 是對(duì)的 女口 the formerFD' s chances of asuccessful claim are remote,and hence noprovisionor contingent liabilityis required.）disclosureReview the disclosures ofthe（ 題目中討論的項(xiàng)目reorga ni zati on） in the finan cialstateme nts to en sure they arein accorda nee with IAS 37Pro

50、visi ons. ContingentLiabilities and Contingent Assets.AP傾向于少記原因年末賬目記混了（Cut of f 的問(wèn)題）In spect the dates of a sample of goods received no tes（GRN） before and just after the year end andfollow through tothedates of releva ntin voice receivedand the dates recorded inthe purchase day book to ensure they

51、are recorded in the correct accounting period女口果只說(shuō) Select a sample of invoices received after the year end and trace to the GRNand purchase day book to ensure that the purchase are recorded in the correct accounting period少記了 payable:存 在虛假的做賬以減 少負(fù)債/發(fā)生的transaction 忘記計(jì) 入賬目（completeness的問(wèn)題）通過(guò)給顧客發(fā)詢證函來(lái)確認(rèn)

52、balance的真實(shí)性Select a sample of payablebalances, especially for the abnormal balances andperform a tradepayables circularization, reconcile the obtained supplier statements tothe purchase ledger balances, and investigate any differences.Review the list of trade payables against prior years to identify

53、 any significantomissions.方法是對(duì)的才能保證最后balance的正確性Enquire of management theirprocess for identifyinggoods received but not invoiced in the purchaseledger to ensure that the recognition method is reasonable看期后實(shí)際支付或者需要支付的款項(xiàng)與前一會(huì)計(jì)年度交易有關(guān)Review afterdate invoices /credit notes /payments, if they relate to t

54、he current yearthen follow through to the purchase ledger or accruallisting to ensurecompleteness （其實(shí)是都是觀察期后事項(xiàng)可是目的不一樣，在寫(xiě)的時(shí)候和completeness 和 cut-off 其實(shí)是一樣的）退了貨未發(fā)生但還 在賬上（違背 occurrenee ）Review the payable ledger forold un paid in voices.Enquire ofthe chief acco unt the reas on for non-payme nt,which may

55、 be indicative of goods being returned and this may lead to the payable figure being overstated.在加總時(shí)加錯(cuò)了或 者在記賬時(shí)數(shù)目記 錯(cuò)了（ accuracy 的問(wèn) 題）1. 把general ledger 和sub-ledger 的 list 核對(duì) Cast the list of trade payables from the purchase ledger and agree to the balances on the general ledger and the financial statements.2. 把 control account和sales ledger 的 list 核對(duì) cast the list of payableson the purchase ledger andreconcile the total of purchase ledger withthe total of purchase ledger control account.（從 list 至U total ）3.Select a sam