TAILIEUCHUNG - Lecture Auditing & assurance services (5th) - Chapter 2: Professional standards

The learning objectives for this chapter include: Understand the development and source of generally accepted auditing standards, describe the fundamental principle of responsibilities and how this principle relates to the characteristics and qualifications of auditors, describe the fundamental principle of performance and identify the major activities performed in an audit. | McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 02 Professional Standards “In today’s regulatory environment, it’s virtually impossible to violate rules.” – Bernard Madoff, money manager, on October 12, 2007, approximately one year prior to being arrested for embezzling $50 billion from investors in a Ponzi scheme. 2- Auditing Standards for Public and Nonpublic Entities Audits of Public Entities Audits of Nonpublic Entities AICPA Statements on Auditing Standards Standards issued by the Auditing Standards Board prior to April 2003 not amended or superseded by PCAOB standards (Interim Standards) All current standards issued by Auditing Standards Board PCAOB Auditing Standards All current standards issued by PCAOB Not applicable 2- Generally Accepted Auditing Standards Identify necessary qualifications and characteristics of auditors and guide the conduct of the audit Purpose of GAAS is to achieve the following objectives of an audit examination Obtain reasonable assurance about whether financial statements are free of material misstatement Report on the financial statements and communicate in accordance with auditor’s findings 2- Comparison of AICPA GAAS to Principles: Responsibilities General Standards Responsibilities Principle Training and proficiency 2. Independence in mental attitude 3. Due professional care Auditors are responsible for: competence and capabilities ethical requirements (independence and due care) professional skepticism and professional judgment 2- Responsibilities Principle Competence and capabilities Experience and expertise Independence Independence in fact vs. independence in appearance Financial and managerial relationships Due care Level of performance by reasonable auditor in similar circumstances Professional skepticism and judgment Skepticism: Appropriate questioning and critical assessment of evidence Judgment: Application of training, knowledge, and .

• Kế toán - Kiểm toán
• Auditing services
• Assurance services
• Contemporary auditing environment
• Financial statement audit
• Professional standards
• Auditing standards
• Financial statement auditing
• Auditing business processes
• Auditing internal control
• Internal auditing services
• Internal auditing
• Auditing the purchasing process
• Auditing the financing
• Auditing demands logic
• Financial statement auditing environment
• Auditing environment
• Audit planning
• Internal control
• Related services