審計資料-審計報告及內(nèi)容

AuditReportsChapter3AssociationwithF/S AuditorshavetoissueareportwhenassociatedwithF/Sshowing:Whatservices,ifany,wereperformed.Levelofresponsibility,ifany.Associationoccurswhen:F/Sareonauditor’sletterheadProducedbyaccountant’scomputerF/Sstatethattheyaretheauditors.LevelsofAssurancePositiveassurance-factualstatementofauditorsopinion;F/SareGAAP.UsedforF/Saudits.NegativeAssurance-basedonourreview,wearenotawareofanymaterialmodifications.Usedforreviews.Noassurance-disclaimerofopinion,noopinionatall.Usedforcompilations.AssuranceF/SAudits

Anauditor'sopiniononfinancialstatementsisanexplicitstatementoftheauditor'sconclusion.Allreportsexceptdisclaimerarepositiveassurance.Examplesofpositiveassurancereports:UnqualifiedQualifiedAdverseNegativeAssuranceNegativeassuranceisastatementthattheauditorisnotawareofanymaterialdeparturesfromGAAPToweakofaconclusionforanauditUsedinreviews,letterstounderwritersandreviewsofinterimfinancialstatements.PartsoftheStandard

UnqualifiedAuditReport1.Reporttitle2.Auditreportaddress3.Introductoryparagraph4.Scopeparagraph5.Opinionparagraph6.NameofCPAfirm7.AuditreportdateConditionsforStandard

UnqualifiedAuditReport1.Allfinancialstatementsareincluded.2.Thethreegeneralstandardshavebeen followedinallrespectsontheengagement.3.Sufficientevidencehasbeenaccumulated toconcludethatthethreestandardsof fieldworkhavebeenmet.ConditionsforStandard

UnqualifiedAuditReport4.Thefinancialstatementsarepresentedin accordancewithgenerallyaccepted accountingprinciples.5.Therearenocircumstancesrequiringthe additionofanexplanatoryparagraphor modificationofthewordingofthereport.FourCategories

ofAuditReportsStandardunqualifiedUnqualifiedwithexplanatoryparagraphormodifiedwordingQualifiedAdverseordisclaimerComponentsofAuditors’ReportThreeparagraphsIntroductoryScopeOpinionIntroductoryParagraphDefinesassociation,objectandresponsibilitiesofserviceWehaveauditedtheaccompanyingconsolidatedbalancesheetsofXYZCorpasofDecember31,2001and2000andtherelatedstatementsofincome,cashflowsandshareholders’equityforeachofthethreeyearsintheperiodending2001.Thefinancialstatementsaretheresponsibilityofmanagement.Ourresponsibilityistoexpressanopiniononthesefinancialstatementsbasedonouraudits.ObjectofAuditTheBalanceSheetIncomestatementCashFlowStatementFootnotedisclosuresandadditionalinformationlikeEPSThesupportingrecordsarenottheobjectoftheaudit.ScopeParagraphDefineswhatanauditis.WeconductedourauditsinaccordancewithGAAS.Thosestandardsrequirethatweplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreeofmaterialmisstatement.ScopeParagraphCont.Anauditincludesexamining,onatestbasis,evidencesupportingtheamountsanddisclosuresinthefinancialstatements.Anauditalsoincludesassessingtheaccountingprinciplesusedandsignificantestimatesmadebymanagement,aswellasevaluatingtheoverallfinancialstatementpresentation.Webelieveourauditsprovideareasonablebasisforouropinion.

AuditedaccordingtoGAASMeansthatthegeneralandfieldworkstandardsofqualitywereadheredtoinconductingthisaudit.Thereportingstandardsareguidelinesforthereportexpression.OpinionParagraphContainstheauditor’sconclusionInouropinion,thefinancialstatementsreferredtoabovepresentfairly,inallmaterialrespects,thefinancialpositionofXYZcorp.asofDecember31,2001and2000andtheresultsoftheiroperationsandcashflowsforeachofthethreeyearsintheperiodendedDecember31,2001,inconformitywithU.S.GAAP.ReportingStandardsF/SareinconformitywithGAAPIdentifiesanychangesinconsistencyIdentifiesanyinadequatedisclosures.ExpressanopinionandidentifiesanyreasonsforopinionsotherthanunqualifiedAuditorsAssuranceofGAAPFinancialStatementsare:InaccordancewithGAAPAccountingprinciplesareappropriateforcircumstancesInformativefortheirusetheclassificationsareneithertocondensedortoodetailedAccuratewithinpracticallimitsofmaterialityAdequatelydisclosedandconsistentTypesofReportsUnqualifiedorclean-noproblems,everythingwasauditedandconformedtoGAAP.UnqualifiedwithanexplanatoryparagraphQualified-everythingOKexceptforaspecificitemoritems.Adverse-notinconformitywithGAAPDisclaimer-NoopinionUnqualifiedReport

withExplanation1.Lackofconsistentapplicationofgenerally acceptedaccountingprinciples.2.Substantialdoubtaboutgoingconcern.3.Auditoragreeswithadeparturefrom promulgatedaccountingprinciples.4.Emphasisofamatter.5.Reportsinvolvingotherauditors.Consistencyversus

ComparabilityChangesthataffectconsistencyandrequireanexplanatoryparagraphiftheyarematerial:1.Changesinaccountingprinciples2.Changesinreportingentities3.CorrectionsoferrorsinvolvingprinciplesConsistencyversus

ComparabilityChangesthataffectcomparabilitybutnotconsistency:1.Changesinanestimate2.Errorcorrectionsnotinvolvingprinciples3.Variationsinformatandpresentationoffinancialinformation4.ChangesbecauseofsubstantiallydifferenttransactionsoreventsSubstantialDoubt

aboutGoingConcern1.Significantrecurringoperatinglossesorworkingcapitaldeficiencies2.Inabilityofthecompanytopayits obligationsastheycomedue3.Lossofmajorcustomers,theoccurrence ofuninsuredcatastrophes4.Legalproceedings,legislation,thatmight jeopardizetheentity’sabilitytooperateReportsforClient’swithGoingconcernissuesUnqualifiedwithanexplanatoryparagraphusingthewordssubstantialdoubtandgoingconcern.DisclaimerbecauseofmassivegoingconcernissuesAdverseorqualifiedifdisclosureofproblemsisinadequateQualified–Someoftheevidenceisnotadequateorunavailable.AuditorAgreeswithaDeparture

fromaPromulgatedPrincipleTheauditormustbesatisfiedandmuststateandexplain,inaseparateparagraphorparagraphsintheauditreport,thatadheringtotheprinciplewouldhaveproducedamisleadingresultinthatsituation.EmphasisonaMatterUndercertaincircumstances,theCPAmaywanttoemphasizespecificmattersregardingthefinancialstatements,eventhoughtheCPAintendstoexpressanunqualifiedopinion.ReportsInvolving

OtherAuditors1.Makenoreferenceintheauditreport.3.Qualifytheopinion.2.Makereferenceinthereport (modifiedwordingreport).Departuresfroman

UnqualifiedOpinion1.Scopelimitation2.GAAPdeparture3.AuditornotindependentQualifiedOpinionAqualifiedopinionreportcanresultfromalimitationonthescopeoftheauditorfailuretofollowgenerallyacceptedaccountingprinciples.AdverseOpinionItisusedonlywhentheauditorbelievesthattheoverallfinancialstatementsaresomateriallymisstatedormisleadingthattheydonotpresentfairlythefinancialpositionorresultsofoperationsandcashflowsinconformitywithGAAP.DisclaimerofOpinionItisissuedwhentheauditorisunabletobesatisfiedthattheoverallfinancialstatementsarefairlypresented.MaterialityAmisstatementinthefinancialstatementscanbeconsideredmaterialifknowledgeofthemisstatementwouldaffectadecisionofareasonableuserofthestatements.LevelsofMaterialityAmountsareimmaterial.Amountsarematerialbutdonotovershadowthefinancialstatementsasawhole.Amountsaresomaterialorsopervasivethatoverallfairnessofthestatementsisinquestion.

RelationshipofMateriality

toTypeofOpinionMaterialityLevelSignificanceinTermsofReasonableUsers’DecisionsTypeofOpinionUsers’decisionsareunlikelytobeaffected.Users’decisionsarelikelytobeaffected.Users’decisionsarelikelytobesignificantlyaffected.ImmaterialMaterialHighlyMaterialUnqualifiedQualifiedDisclaimerorAdverseMaterialityDecisionsFailuretofollowGAAPAuditreportUnqualifiedQualifiedopiniononlyAdverseMaterialityDecisionsScopelimitationAuditreportUnqualifiedQualifiedscopeandopinionDisclaimerMaterialityDecisionsDollaramountcomparedwithabaseMeasurabilityNatureoftheitemDiscussionofConditions

RequiringDepartureAuditor’sscopehasbeenrestricted.StatementsarenotinconformitywithGAAP.Auditorisnotindependent.ScopeRestrictedby

ClientorConditionsImmaterialMaterialLevelofMaterialityExtremelyMaterialUnqualifiedreportQualifiedscope,additionalparagraph,andqualifiedopinion(exceptfor)DisclaimerofopinionScopeLimitationsScopelimitationisalimitationontheauditorbeingabletoperformallnecessaryauditprocedures.Examples:Hiredaftertheyearend,couldnotobserveyearendinventoryphysicalcount.Recordsdestroyedbyfire.Clientdoesnotallowaccesstoallrecords.QualifiedforScopeLimitationModifythescopeandopinionparagraphtoincludethelanguage'exceptfor'theareathatwasnotabletobeauditedAnexplanatoryparagraphisaddeddetailingthelimitation.Qualified-takeresponsibilityforthefinancialstatementsexceptfortheitemsexplained.

ADisclaimerforScope

Limitation'Wewereengagedtoaudit'insteadofthestandardreportintroduction'Wehaveaudited...’Theresponsibilityforanopinionisomitted.Thescopeparagraphisomittedbecauseanauditwasnotperformed.Anexplanatoryparagraphisaddedtodescribethelimitation.Noopinionisexpressed-becauseofthescopelimitationStatementsNotPreparedin

AccordanceWithGAAPImmaterialMaterialLevelofMaterialityExtremelyMaterialUnqualifiedreportAdditionalparagraphandqualifiedopinion(exceptfor)AdverseopinionEvidenceforGAAPDeparture

Foranunqualified,aqualifiedoradverseopinionrelatedtoadeparturefromGAAP,fullysufficientcompetentevidenceisrequiredbecauseafullauditwasperformed.Therewerenorestrictionsongatheringevidence.Auditorisstillperformingafullauditandthereforstillrequiresfullevidence.DisclaimersforGAAPDepartures?CanadisclaimerberenderedforadeparturefromGAAP?No,becauseafullaudithasbeenperformedandourdutyasanauditoristorenderanopinion.ReportModificationsforGAAPDeparture-QualifiedStandardIntroductoryandScopeparagraphExplanatoryparagraphaddeddetailingGAAPdepartureOpinionparagraphmodifiedusing“exceptfortheproblemidentifiedabove”theF/SarefairlypresentedaccordingtoGAAPReportModificationsforGAAPDeparture-AdverseStandardintroductoryandscopeparagraphExplanatoryparagraphdetailingextentofGAAPdepartureOpinion–doesnotfairlypresentinaccordancewithGAAPTheAuditorIsNot

IndependentImmaterialMaterialLevelofMaterialityExtremelyMaterialDisclaimerofopinion(regardlessofmateriality)DisclaimerReportsAssumesnoresponsibilityforthefinancialstatements.Usedfor:SupermaterialscopelimitationsWhenanauditorlacksindependencefromtheclientServiceslessthananauditareperformed.

DisclaimerforUnauditedFinancialStatementsUnauditedfinancialstatementsarethosethatanauditorhasnotperforme