VerificationofSelectedAccounts(英文版)

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1、Click to edit Master title style,Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,15-,*,2003,Prentice Hall Business Publishing,Essentials of Auditing 1/e,Arens/Elder/Beasley,Completing the TestsintheAcquisitionandPaymentCycle:Verificationof SelectedAccounts,Chapter1

2、5,LearningObjective 1,Recognize the many accountsin,theacquisitionandpaymentcycle.,Assets,Cash,Inventory,Supplies,Property,plant,and equipment,Patents,trademarks,and copyrights,Prepaid rent,Prepaid taxes,Prepaid insurance,AccountsAssociatedwithAcquisitionandPaymentCycle Transactions,AccountsAssociat

3、edwithAcquisitionandPaymentCycle Transactions,Cost of goods sold,Rent expense,Property taxes,Income tax expense,Insurance expense,Professional fees,Retirement benefits,Utilities,Expenses,AccountsAssociatedwithAcquisitionandPaymentCycle Transactions,Accounts payable,Rent payable,Accrued professional

4、fees,Accrued property taxes,Other accrued expenses,Income taxes payable,Liabilities,LearningObjective 2,Design and perform audit,tests ofproperty,plant,and,equipment related accounts.,AuditingManufacturing EquipmentandRelatedAccounts,Analytical procedures,Currentyeardisposals,Ending balance in the a

5、ssetaccount,Depreciationexpense,Ending balance in accumulated depreciation,Currentyearacquisitions,plusverifications of:,Analytical Procedures for ManufacturingEquipment,Analytical ProcedurePossible Misstatement,Compare depreciationMisstatement in,expense divided by grossdepreciation expense,manufac

6、turing equipmentand accumulated,cost with previous years.depreciation,Compare accumulatedMisstatement in,depreciation dividedby grossaccumulated,manufacturing equipmentdepreciation,costwithprevious years.,AnalyticalProcedures forManufacturingEquipment,AnalyticalProcedurePossible Misstatement,Compare

7、 monthlyor annualExpensing amounts,repairs and maintenance,that shouldbe,supplies expense,small toolscapitalized,expense,and similaraccounts,withprevious years.,Compare gross manufacturingIdle equipment or,costdivided bysomemeasureequipmentthathas,of production with previousbeendisposed of,but,years

8、.notwritten off.,VerifyingCurrent Year Acquisitions,The properrecordingof current year additions,is important becauseof the long-term effect,the assetshaveon the financial statements.,Because oftheimportanceof current period,acquisitions,sevenof the nine balance-related,auditobjectives areusedas afr

9、ame ofreference.,MajorBalance-RelatedAudit Objectives,Existing acquisitions arerecorded.,Completeness,1.,Examine vendors,invoicesof closely related,accounts to uncoveritemsthatshould be,manufacturing equipment.,2.Reviewleaseandrental agreements.,Current year acquisitionsas listedareaccurate.,MajorBa

10、lance-RelatedAudit Objectives,Accuracy,1.,Examine vendors,invoices.,Current year acquisitionsas listedareproperly classified.,MajorBalance-RelatedAudit Objectives,Classification,Examine:,1.Vendors,invoicesin mfg.equipment account.,2.Vendors,invoicesof closely relatedaccounts.,3.Rent and lease expens

11、eforcapitalizable leases.,VerifyingCurrent Year Disposals,Review whethernewlyacquired,assets replaceexisting assets.,Analyze gains and losseson disposal.,Review documents forindications,of deletion ofequipment.,Makeinquiriesaboutthepossibility,of the disposalof assets.,VerifyingEnding Balanceof Asse

12、t Accounts,1.,All equipment ownedis recorded.,All recorded equipment physically,exists onthe balance sheet date.,VerifyingDepreciation Expense,The most important objective is accuracy.,Consistent,depreciation,policy,Correct,calculations,VerifyingEnding Balancein AccumulatedDepreciation,1.,Accumulate

13、d depreciationas stated,in the propertymaster file agrees,withthe general ledger.,2.,Accumulated depreciationin the,master file isaccurate.,Learning Objective 3,Design andperform audit,testsof prepaid expenses.,Auditof Prepaid Expenses,Prepaid rent,Organization cost,Prepaid taxes,Patents,Prepaid ins

14、urance,Trademarks,Deferred charges,Copyrights,Prepaid InsuranceInternal Controls,1.,Controls over the acquisitionand,recordingof insurance,2.,Controls over the insurance register,3.,Controlsoverthecharge-offof,insuranceexpense,PrepaidInsuranceAuditTests,Comparetotalprepaidinsuranceandinsurance,expen

15、sewithpreviousyears.,Computetheratioofprepaidinsurancetoinsurance,expenseandcompareitwithpreviousyears.,Comparetheindividualinsurancepolicycoverage,onthescheduleofinsuranceobtainedwiththe,precedingyear,sschedule.,PrepaidInsuranceAuditTests,Comparethecomputedprepaidinsurancebalance,forthecurrentyearo

16、napolicy-by-policybasis,withthatoftheprecedingyear.,Reviewtheinsurancecoveragelistedonthe,prepaidinsuranceschedulewithanappropriate,clientofficialorinsurancebroker.,LearningObjective4,Designandperformaudit,testsofaccruedliabilities.,AuditofAccruedLiabilities,Accruedincometaxes,Accruedinterest,Accruedpensioncosts,Accruedprofessionalfees,Accruedrent,Accruedwarrantycosts,AccruedPropertyTaxesandRelatedAccounts,Accrued Property Taxes,Property Tax Expense,Beginning balance,PaymentsCurrent period,(prop