审计学：一种整合方法-第12版-英文版Chapter19.ppt

2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-1Audit of the Acquisition and Payment Cycle:Tests of Controls,Substantive Tests of Transactions,and Accounts Payable.Chapter 192008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-2 2Learning Objective 1Identify the accounts and theclasses of transactions in theacquisition and payment cycle.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-3 3Transactions in the Acquisition and Payment Cycle1.Acquisitions of goods and services2.Cash disbursements3.Purchase returns and allowancesand purchase discounts2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-4 4Accounts in the Acquisitionand Payment CycleCash in BankPurchase Returnsand AllowancesPurchaseDiscountsCashdisbursementsPurchasereturns andallowancesPurchasediscountsAcquisitionsof goods andservicesRaw MaterialPurchasesProperty,Plantand EquipmentPrepaidExpensesAccounts Payable2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-5 5Accounts in the Acquisitionand Payment CycleAcquisitionsof goods andservicesAccounts PayableManufacturing Expense Control AccountSubsidiary accountsRepair and maintenanceTaxes,SuppliesFreight in,UtilitiesAdministrative Expense Control AccountSubsidiary accountsSupplies,Officers travelLegal feesAuditing fees,TaxesSelling Expense Control AccountSubsidiary accountsCommissionsTravel,delivery expensesRepairs,Advertising2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-6 6Learning Objective 2Describe the business functionsand the related documents andrecords in the acquisition andpayment cycle.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-7 7Classes of Transactionsand Accounts Inventory Property,plant,and equipment Prepaid expenses Leasehold improvements Accounts payable Manufacturing expenses Selling and administrative expensesAcquisitions:2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-8 8Classes of Transactionsand Accounts Cash in bank(from cash disbursements)Accounts payable Purchase discountsCash disbursements:2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-9 9Business Functions in the Cycle Processing purchase orders Receiving goods and services Recognizing the liability Processing and recording cash disbursements2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-1010Related Documentsand Reports Purchase requisition Purchase order Receiving reportProcessing purchase orders:Receiving goods and services:2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-1111Related Documentsand Reports Vendors invoice Voucher Debit memoRecognizing the liability:Acquisitions transaction file2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-1212Related Documentsand Reports Acquisitions journal or listing Accounts payable master file Accounts payable trial balance Vendors statementRecognizing the liability:2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-1313Related Documentsand Reports Cash disbursements transaction file Check Cash disbursements journal or listingProcessing and recording cash disbursements:2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-1414Learning Objective 3Describe how e-commerceaffects the acquisition ofgoods and service.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-1515How E-Commerce Affects the Acquisition and Payment CycleInternet-based technologies allow for electroniclinkages between suppliers and customers.Information about products is available overthe Internet.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-1616How E-Commerce Affects the Acquisition and Payment CycleSome companies use extranets which allowcompanies to communicate and conduct business in a secure setting.Other companies use business-to-businessauctions hosted on the Internet tonegotiate purchases.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-1717Learning Objective 4Understand internal control,anddesign and perform tests ofcontrols and substantive testsof transactions for the acquisitionand payment cycle.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-1818Methodology for Designing Controls and Substantive TestsUnderstand internal control acquisitions and cash disbursementsAssess planned control risk acquisitions and cash disbursementsDetermine extent of testing controlsAudit proceduresSample sizeItems to selectTimingDesign tests of controls andsubstantive tests of transactionsfor acquisitions and cashdisbursements to meettransaction-related audit objectives2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-1919Understand Internal Control Perform walk-through tests Study the clients flowcharts Review internal control questionnaires2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-2020Assess Planned Control Risk Authorization of purchases Separation of asset custody fromother functions Timely recording and independentreview of transactions Authorization of payments2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-2121Determine Extent of Testingof Controls The auditor identifies the key internal controlsand weaknesses and assesses control risk The auditor performs tests of controls to obtainevidence that controls are operating effectively2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-2222Controls and Substantive Testsof Transactions for Acquisitions Recorded acquisitions are for goodsand services received(occurrence)Existing acquisitions are recorded(completeness)Acquisitions are accurately recorded(accuracy)2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-2323Controls and Substantive Testsof Transactions for Acquisitions Acquisitions are correctly includedin the master files(posting andsummarization)Acquisitions are correctly classified(classification)Acquisitions are recorded on thecorrect dates(timing)2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-2424Attributes SamplingBecause of the importance of tests of controlsand substantive tests of transactions foracquisitions and cash disbursements,the useof attributes sampling is common in thisaudit area.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-2525Important Differences Larger number of transactions Significant judgment Wide range of dollar amount2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-2626Learning Objective 5Describe the methodology fordesigning tests of details ofbalances for accounts payableusing the audit risk model.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-2727Identify client businessrisks affectingaccounts payableMethodology for Designing Testsof Balances for Accounts PayableSet tolerable misstatementand assess inherent riskfor accounts payableAssess control risk forthe acquisition andpayment cyclePhase IPhase IPhase I2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-2828Methodology for Designing Testsof Balances for Accounts PayableDesign and performtests of controls andsubstantive testsof transactionsfor the acquisitionand payment cyclePhase II2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-2929TimingItems to selectSample sizeAudit proceduresMethodology for Designing Testsof Balances for Accounts PayableDesign and performanalytical proceduresfor accountspayable balanceDesign tests ofdetails of accountspayable balance tosatisfy balance-related auditobjectivesPhase IIIPhase III2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-3030Learning Objective 6Design and perform analyticalprocedures for accounts payable.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-3131Analytical Procedures for the Acquisition and Payment CycleReview list of accounts payablefor unusual,nonvendor,andinterest-bearing payablesClassification misstatementfor nontrade liabilitiesAnalytical procedureCompare acquisition-relatedexpense account balanceswith prior years.Misstatement of accountspayable and expensesPossible misstatement2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-3232Analytical Procedures for the Acquisition and Payment CycleAnalytical procedureCompare individual accountspayable with previous yearsUnrecorded or nonexistentaccounts,or misstatementsCalculate ratios,such aspurchases divided by accountspayable,and accounts payabledivided by current liabilitiesUnrecorded or nonexistentaccounts,or misstatementsPossible misstatement2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-3333Learning Objective 7Design and perform tests ofdetails of balances for accountspayable,including out-of-periodliability tests.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-3434Out-of-Period Liability Tests Examine underlying documentation forsubsequent cash disbursements Examine underlying documentation for billsnot paid several weeks after the year-end Trace receiving reports issued beforeyear-end to related vendors invoices2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-3535Out-of-Period Liability Tests Trace vendors statements that show a balancedue to the accounts payable trial balance Send confirmations to vendors with whichthe client does business2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-3636Cutoff Tests Relationship of cutoff to physicalobservation of inventory Inventory in transit FOB destination FOB origin2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-3737Learning Objective 8Distinguish the reliability ofvendors invoices,vendorsstatements,and confirmationsof accounts payable as auditevidence.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-3838Reliability of Evidence Distinction between vendors invoicesand vendors statements Difference between vendors statementsand confirmations2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-3939Sample SizeSample sizes for accounts payable tests varyconsiderably,depending on many factors.Statistical sampling is less commonly usedfor the audit of accounts payable thanfor accounts receivable.2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-4040Types of Audit Tests for theAcquisition and Payment CycleTOC+STOT+AP+TDB=Sufficient appropriate evidence per GAASCash inBankAccountsPayableAcquisitionExpensesPaymentsExpensesAudited byTOC,STOT,and APEndingbalanceEndingbalanceAudited byTOC,STOT,and APAudited byAP andTDBAuditedby AP2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-19-4141Types of Audit Tests for theAcquisition and Payment CycleTOC+STOT+AP+TDB=Sufficient appropriate evidence per GAASAccountsPayableAcquisitionAssetsAcquisitionof assetsEndingbalanceAudited byTOC,STOT,and APAudited byAP andTDB2008 Prentice Hall Business Publishing,2008 Prentice Hall Business Publishing,Auditing 12/e,Auditing 12/e,Arens/Beasley/Elder Arens/Beasley/Elder19-42End of Chapter 19此课件下载可自行编辑修改，供参考！感谢您的支持，我们努力做得更好！