考前沖刺階段22年09月講義spreport文字

GoldenACCAAudit&AssuranceSubstantiveprocedureReport+文字Instructor:Luxi考情分析-IntangibleCash&bank,考情分析-ActionAction+Source+ 文件or流 認考情分析-ActionAction+Source+Agreethesubsequentpaymenttothepostyear-endcashbookandbankstatementstoconfirmcompleteness考情分析-NCA&intangibleasset:Fixedassetregister, ;Generalledger;ValuationreportTitledeedsandlandregistration maretInventory:Inventorycountinstructions;Inventorycountsheets;GRNandRecentmaterial s;Postyear-end s;Receivables:ARconfirmationletters;Salesledger;Goodsdispatchnotesand Receivablelist;ReceivablescontrolaccountagedreceivablesreportCash&bank:Bankstatement;Bankreconciliation;BankPayable:APlist(currentyearandprioryear);Purchaseledger;PurchaseledgercontrolGeneralledger;After sandcredit rProvisions:Correspondencewiththirdparties;Enquirylettertothelawyer;Boardminutes;WrittenmanagementrepresentationActionAction+Source+Agreethesubsequentpaymenttothepostyear-endcashbookandbankstatementstoconfirmcompleteness若用分析性程序，則不用寫認從案例本身入從認定入從文從會計準則入如果上述思路下寫的程序還不夠分數(shù)，可以考慮寫萬能審計程“萬能”審計程序總結(jié)如下獲 列表進行“賬賬核實期初余額，核實其期初余額的準確性看董確認披露是否完整準確，是否符合IAS或 的規(guī)定Examplequestion2020Sep/DecItis1July20X5.YouareanauditmanagerofSagittarii&Coandyouareinchargeoftwofinalauditswhichareduetocommenceshortly.VegaVistaCoandCanopusCoarebothexisting swithafinancialyearended31March20X5.VegaVistaCoisanot-for-profitcharitableorganisationwhichraisesfundsfordisadvantagedfamiliesandthedraftfinancialstatementsshowrevenueof$0.8m.CanopusComanufacturespaintproductsinsevenfactoriesacrossthecountryandthedraftfinancialstatementsshowtotalequityandliabilitiesof$1.6m.Thefollowingmattershavebeenbroughttoyourattentionfor Examplequestion2020Sep/DecVegaVistaeVegaVistaCogenerateseinanumberofways.ThemainsourceofeisviaanannualfoodandmusicfestivalheldinSeptembereveryyear.Tickets,whichcost$35,aresoldinthenine-monthperiodpriortotheeventandcanbepurchasedinadvanceonlineoronthedayoftheeventforcash.Approximay15,000peopleattendedtheSeptember20X4eventandmoreareanticipatedfor20X5.Attheeventthereareanumberofstallssellingfoodandthecharityreceivesafixedpercentageofthesesundrysales.Also,duringthefestival,volunteersofthecharitysignupindividualstomakemonthlydonations,andthesearepaidbybanktransfertothecharity.Duringtheauditnning,thecompletenessandcut-offofewasflaggedasakeyauditrisk.Examplequestion2020Sep/Dec RestructuringCanopusCorecentlyannouncednstofundamentallyrestructureitsproductionprocessesduetoachangeinthefocusofthe 'soperatins.Itsincludeda$2.1mrestructringproisionintedraftfinancialstatements.Therestructureinvolvesarefurbishmentofthefactories,thepurchaseofnewntandequipmentandretrainingofexistingstaff.ThesenswerefinallyagreedataboardmeetinginMarch20X5andannouncedtoshareholdersandemployeesjustbeforetheyearend.BankInreadinessfortheoperationalchanges,thedirectorsofCanopusCodecidedtorestructuresbankloans.Asaresult,severallong-termloanswererepaidearlyandanewten-yearbankloanof$4.8mwastakenouton1January20X5.Repaymentsof$150,000areduequarterlyinarrearswhichincludesinterest.Examplequestion2020Sep/DecDescribesubstantiveprocedurestheauditorshouldperformtoobtainsufficientandappropriateevidenceinrelationtoVegaVistaCo'sNote.YoushouldassumethatthecharityadoptsInternationalFinancialReportingStandards.(5DescribesubstantiveprocedurestheauditorshouldperformtoobtainsufficientandappropriateauditevidenceinrelationtoCanopusCo'srestructuringprovision.(5marks)Describesubstantiveprocedurestheauditorshouldperformtoobtainsufficientandappropriate (5Answers-(a)VegaVistaCo’s–ObtainascheduleofallVegaVistaCo’seandcasttoconfirmcompletenessandaccuracyofthebalanceandagreethetrial–Comparetheindividualcategoriesofeoffestivalticketsales,sundrysalesanddonationsagainstprioryearsandinvestigateanysignificantdifferences.–Fortheannualfestival,constructaproof-in-totalcalculationofthenumberofticketssold,approximay15,000,multipliedbytheticketpriceof$35.Comparethistotheerecordedanddiscussanysignificantdifferenceswith–Forticketssoldonthedayofthefestivalreconcilefromticketstubsthenumberofticketssoldmultipliedby$35andagreethesesalestocashbankedinthebankstatement.–DiscusswithmanagementtheirproceduresforensuringadvanceticketsalesfortheSeptember20X5festivalexcludedfromeandinsteadrecognisedasdeferredeinthestatementoffinancialAnswers-(a)VegaVistaCo’s–Selectasampleofadvanceticketsalesmadeonline,agreethatthetransactionhasbeenexcludedfromcurrentyearandfollowthroughtoinclusionindeferred–Agreejournalentrytotransferprioryeardeferred erelatingtothe20X4festivaltocurrentyearetotheledgerandagreefigurestoprioryearfinancialstatements.–Forsundrysales,obtainabreakdownoftheereceivedperstallandagreeto ationprovidedeachstallholder.Recalculatethefixedpercentagereceivedisaspertheagreement/contractmadewithVegaVista–Comparesundrysalesperstallholdertoprioryearsalesdataandinvestigateanysignificant–Formonthlydonations,traceasampleofdonationsfromsignup ationtothebankstatements,cashbookandelistingtoensurethattheyarerecordedcomple yandaccura –Forasampleofnewdonorsintheyear,agreethemonthlysumandstartdatefromtheircompletedformsandtracethemonthlydonationsreceivedaccountandagreetothecashbookandbankAnswers-(b)CanopusCo’srestructuring–Castthebreakdownoftherestructuringprovisiontoensureitiscorrectlycalculatedandagreethetotalthetrial–ReviewtheboardminuteswherethedecisiontorestructuretheproductionprocesswastakenandthedecisionwasmadeinMarch–ReviewtheannouncementtoshareholdersandemployeesinlateMarch,toconfirmthatthiswasannouncedbeforetheyearend.–ObtainabreakdownoftherestructuringprovisionandconfirmthatonlydirectexpenditurerelatingtorestructuringisAnswers-(b)CanopusCo’srestructuring–Reviewtheexpendituretoconfirmthattherearenoretrainingcostsofexistingstaff–Forthecostsincludedwithintheprovision,includingacquisitions ntandmachinery,agree ation,suchas s,toconfirmvalidityandvalueofitems–Reviewpostyearendpayments/ srelatingtotheexpenditureandcomparetheactualcostsincurredtotheamountsprovidedtoassesswhethertheamountoftheprovisionisreasonable.–Obtainawrittenrepresentationconfirmingmanagementdiscussionsinrelationtotheannouncementtherestructuringandtoconfirmthecompletenessofthe–ReviewtheadequacyofthedisclosuresoftherestructuringprovisioninthefinancialstatementsassesswhethertheseareinaccordancewithIAS?37Provisions,ContingentLiabilitiesandContingentAnswers-（c）CanopusCo’sbank?Obtainascheduleofopeningandclosingloansdetailinganychangesduringtheyear.Castthescheduletoconfirmitsaccuracyandagreetheclosingbalancestothetrialbalanceanddraftfinancialstatements.?Forthenewloantakenoutintheyear,reviewtheloanagreementtoconfirmtheamountborrowed,thetermsandtheinterestrate?Forthenewloantakenoutintheyear,agreetheloanproceedsof$4.8millionpertheloanagreementtothebookandbank?Forloansrepaid,agreethefinalsettlementamountperbankcorrespondencetopaymentsoutduringtheyearinthecashbookandbankstatements.?Agreethequarterlyrepaymentofthenewloanof$150,000paidon31March20X5tothecashbookandAnswers-（c）CanopusCo’sbank?Reviewthebankcorrespondenceandloanagreementsforconfirmationofanyearlysettlementchargesincurredontheloansrepaid.Agreethatthesewerechargedtothestatementofprofitorlossasafinancecharge.?Obtaindirectconfirmationattheyear-endfromtheloanprovideroftheoutstandingbalancesandanysecurityprovided.Agreeconfirmedamountstotheloanschedule.?Reviewallloanagreementsfordetailsofcovenantsandrecalculateallcovenantstoidentifyanypotentialor?Reviewthedisclosureofnon-currentliabilitiesinthedraftfinancialstatements,includinganysecurityprovidedandassesswhethertheseareinaccordancewithaccountingstandardsandlocallegislation.Additionally,confirmthatthesplitofcurrentandnon-currentloansinthefinancialstatementsiscorrect.?Recalculatethesplitoftheloanrepaymentmadeon31March20X5betweeninterestandprincipal,recalculateandagreetoinclusioninstatementofprofitorloss,andoutstandingloanbalancereducedbyprincipalamountExamplequestion2020SEP/DECDuringtheauditofCanopusCo'srestructuringprovision,theauditteamdiscoveredthat$270,000ofcostsincludeddidnotmeetthecriteriaforinclusionasperIAS37Provisions,ContingentLiabilitiesandContingentAssets.Thefinancedirectorhassuggestedthatnoadjustmentismadeinthe20X5financialstatementsastheprovisionisamatterofjudgementandtheprovisionhasbeendeemedreasonablebytheboard.(d)Discusstheissueanddescribetheimpactontheauditor'sreport,ifany,shouldthisissueremain考情分析-考情分審計報告及意考情分何種情況展示何種意情形第一句，抄題（題目中的錯報及情況簡單描述第二句，該 如何調(diào)第三句，計算重要性，確認這是一個重大錯報（一般情況都是重大錯報，但不排除特殊情況第四句，對審計報告的影響。這部分需要包含兩點1.審計報告中出具什么意見及原因；2.以什么段Answers-(d)ImpactonAuditor’sTherestructuringprovisionof$2.1millionincludes$270,000ofcostswhichdonotmeetthecriteriaforinclusionasperIAS37Provisions,ContingentLiabilitiesandContingentAssets.Hencebyincludingthisamounttheprovisionandexpensesforthisyearareoverstatedandprofitsunderstated.Theerrorismaterialasitrepresents2.3%oftotalequityandliabilities/totalassets(0·27m/11.6m)andhencethefinancedirectorshouldadjustthefinancialstatementsbyremovingthiscostfromtheprovisionandinsteadexpensingittoprofitorlossasitisincurred.Theargumentthattheprovisionisjudgementalandhasbeendeemedreasonablebytheboardisnotvalid.IAS37hasstrictcriteriaforwhatcanandcannotbeincludedwithinarestructuringprovision.Forexample,trainingcostsforexistingstaffmustbespecificallyexcluded.Answers-(d)ImpactonAuditor’sIfthefinancedirectorrefusestoamendthiserrortheauditopinionwillbemodifiedduetoamaterialmisstatement.AsmanagementhasnotcompliedwithIAS37andtheerrorismaterialbutnotpervasive,aqualif