TAILIEUCHUNG - Lecture Auditing and assurance services in Australia (4th ed): Chapter 9 - Grant Gay, Roger Simnett

Chapter 9 - Tests of controls. In this chapter we will discuss: understand that tests of controls are undertaken when the auditor intends to rely on a control to reduce a risk of material misstatement; appreciate that when undertaking tests of controls, the auditor must collect audit evidence about the existence, effectiveness and continuity of controls. | Part Three Tests of Controls and Tests of Details 9- Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett Chapter 9 Tests of controls 9- Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett Learning objective 1: Tests of controls When control risk is assessed at less than high, it is necessary to gather evidence that controls are working. This evidence is gathered via a test of controls. If control risk is assessed at high, the auditor will not undertake test of controls. Auditor selects most efficient and effective combination of tests of controls, and substantive tests of transactions, balances and disclosures. 9- Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett Assessing control risk To assess control risk as high, auditor must expect not to rely on evidence from the internal control system and that substantive procedures alone will provide sufficient appropriate evidence. Areas where substantive procedures alone may not provide sufficient appropriate evidence include routine recording of significant classes of transactions, such as revenue or purchases. These systems are often highly automated with little or no manual intervention. 9- Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett Planning the scope of tests of controls Nature: refers to type of tests, tests of controls or substantive testing. Also refers to type of evidence-gathering procedures (. inspection, observation). Timing: to aid ability to meet deadlines and scheduling of staff, tests of controls .

• Kế toán - Kiểm toán
• Assurance services profession
• Assurance services
• Auditing services
• Audit process
• Tests of controls
• Sales cycle
• Structure of the profession
• Audit firms
• Assurance framework
• Accounting information
• Professional status
• Regulation of auditing
• The auditing profession
• Corporate governance
• Professional ethics
• Legal liability
• Liability to clients
• Financial repport audit process
• Financial report assertions
• The business
• Strategic business risk
• Inherent risk assessment
• Inherent risk
• Internal control structure
• Assessing control risk
• Substantive tests
• Substantive tests of transactions
• Audit sampling
• Sampling theory
• Adjusting events
• Financial report
• Auditor’s reporting obligations
• Professional reporting obligations
• Prospective financial information
• Highlight information
• Institute of internal auditors
• Government accounting
• Reporting duties
• E commerce systems
• Business risk assessments