TAILIEUCHUNG - Lecture Principles of auditing and other assurance services (15/e): Chapter 1 - Whittington, Pany

Chapter 1 - The role of the public accountant in the American economy. After studying this chapter, you should be able to: Describe the character of assurance services, identify assurance services that involve attestation, describe the nature of financial statement audits, explain why audits are demanded by society,. | The Role of the Public Accountant in the American Economy Chapter 1 1 The Attest Function Management Subject Matter Suitable Criteria The CPA Gathers Evidence Subject Matter* The Attest Report Issues Report *May be management’s assertion about the subject matter. 1- 2 2 Attestation Engagements Type of Engagement Level of Assurance Nature of Report Procedures Examination Review Agreed-upon procedures Highest Moderate or Limited Varies with procedures Expresses opinion Expresses negative assurance States findings Sufficient to limit attestation risk to low level Generally limited to inquiry & analytical procedures Procedures agreed- upon with the specified users 1- 5 3 Audit of Financial Statements Management Prepares Financial Statements Criteria (., GAAP) The Auditors Gathers Evidence Financial Statements The Auditors’ Report Issues Report 1- 6 4 What Creates the Demand for Audits? Audits lend credibility to information by reducing information risk, the risk that .

• Kế toán - Kiểm toán
• Principles of auditing
• Assurance services
• Public accountant
• American economy
• Professional services
• Financial statements
• Compliance auditing
• Internal auditing profession
• Operational audit
• Lecture Principles of auditing
• Bài giảng Nguyên lý kiểm toán
• Auditor legal liability
• Audit planning
• Audit evidence
• Audit procedures
• Auditing operations
• Completing the audit
• Income statement accounts
• Administrative expenses
• International auditing overview
• The audit market
• Professional accountants
• Client acceptance
• Understanding the entity
• Internal control
• Additional assurance services
• Historical financial information
• Audit report
• Special reports
• Attestation engagements
• Internal control integrated framework
• Examination report
• Professional standards
• Standards of reporting
• GAAP hierarchy
• Public accounting profession
• Professional ethics
• Ethical dilemma
• Nature of ethics
• Establishing professional ethics
• Legal liability of auditors
• CPA liability
• Criminal liability
• Securities laws
• Audit documentation
• Audit risk
• Audit risk formula
• Planning the audit
• Linking audit procedures
• Assessing fraud risks
• Control environment factors
• Accounting System
• Control activities
• IT environment
• Computer hardware
• IT control activities
• Audit sampling
• Statistical sampling
• Random sample
• Statistical sampling plans
• Financial investments
• Audit cash
• Accounts receivable
• Notes receivable
• Revenue cycle
• Revenue cycle controls
• Cost of goods sold
• Conversion cycle
• Physical inventory
• Controls over plant
• Audit of intangibles
• Long lived assets
• Audit of property
• Accounts payable
• Acquisition cycle
• Audit accounts payable
• Equity capital
• Interest bearing debt
• Substantive tests
• Auditors’ reports
• Nonpublic entity audits
• Public company audits
• Integrated audits
• Management’s responsibility
• Analytical procedures
• Substantive testing
• Audit reports
• Corporate governance
• Understanding the client
• Assessing risks