8考試技術(shù)報(bào)告

Examtechnique:auditorAuditorreportingformsanimportantpartoftheAdvancedAuditandAssurancesyllabusandexam.PriortoSeptember2018auditorreportingtypicallyfeaturedinoneoftheoptionalquestionsandwasoftentheleastpopularquestioneachsession.Candidatesshouldbeawarethatastheexammovestoitsnewsyllabusformatallquestionswillbecompulsoryandoneofthe25-markquestionseachsessionwillbedrawnfromthecompletionandreportingareaofthesyllabus.Questionscouldfocusonsyllabusareasincludingfinalevaluationofauditevidence,matterssuchasgoingconcernandsubsequentevents,andthereportswhichauditorsproduceatthefinalstageoftheaudit,includingtheauditor’sreportshareholdersandreportstothosechargedwithExamtechnique:auditorThisarticlefocussesonauditorreportingtoshareholders.Itisimperativeforcandidatestobepreparedtoanswerquestionsonauditorreportingandwillneedanunderstandingoftheformatofthereport,thetypesofopinionswhichmaybegivenbytheauditorandtheothermodificationswhichcouldberequiredtoanauditor’sreport.Examtechnique:auditorExamquestionsontheauditor’sreporthaveoftentakenoneoftwoforms.Thefirstisanappraisalofinformationprovidedwithinascenarioandarequirementtoconsiderfurtheractionsandpossiblereportingimplications,theotheracritiqueofdraftwordingforanauditor’sreport.Theserequirementsareslightlydifferentasoneisatanearlierstagethantheotherandhenceitisimportanttofocustheanswertowhattherequirementisaskingfor.Therearealsodifferentwordingsoftherequirementswhichmeanthattheanswerstotwoquestionsmaylooksimilarbutconclusionshavebeenreachedfordifferentreasons.Appraisalofinfo,Furtheraction,Justifyopinion+CritisiseauditExamtechnique:auditorAuditTheauditopinionisperhapsthemostimportantthingtounderstandforanauditor’sreportquestion.Wheretheauditorhasgatheredsufficientandappropriateevidencethatthefinancialstatementsarefreefrommaterialmisstatementsanunmodifiedopinioncanbeissued.Examtechnique:auditorISA700(revised)ForminganOpinionandReportingonFinancialStatementsgivestwoalternativeformsforanunmodifiedopinion.Theseare:Inouropinion,theaccompanyingfinancialstatementspresentfairly,inallmaterialrespects,thefinancialpositionofthecompanyasat31December20X1andofitsfinancialperformanceanditscashflowsfortheyearthenendedinaccordancewithInternationalFinancialReportingStandards(IFRS),orInouropinion,theaccompanyingfinancialstatementsgiveatrueandfairview,inallmaterialrespects,thefinancialpositionofthecompanyasat31December20X1andofitsfinancialperformanceanditscashflowsfortheyearthenendedinaccordancewithInternationalFinancialReportingStandardsExamtechnique:auditorCommonerrorinthe–candidatesoftenstatethatthefirstoftheseopinionsisincorrectandthatthereportshouldstatethefinancialstatementsaretrueandfair–thisisnotthecase,eitherwordingisallowedbythestandard.Examtechnique:auditorThenextthingacandidateneedstohaveclearintheirmindarethepossiblemodificationsforopinions.TheseariseiftheauditorisnotabletoobtainsufficientappropriateaudithasconcludedthatthefinancialstatementsareNOTprepared,inallmaterialrespects,inaccordancewiththerequirementsoftheapplicablefinancialreportingframeworkwhichincludesconsiderationofthequalitativeaspectsoftheentity’saccountingpractices,includingindicatorsofpossiblebiasinmanagement’sjudgments.Wherethisisthecasetheauditorwillneedtoassesswhethertheissuesconsideredarematerialormaterialandpervasive.Examtechnique:auditorISA705(revised),ModificationstoTheOpinioninTheIndependentAuditor’sReportidentifiesthreetypesofmodifiedopinion:Qualifiedopinion–wheretheauditorsconcludeseitherthatthemisstatementsinthefinancialstatementsarematerialbutnotpervasive(qualifiedonthebasisofmaterialmisstatement)ortheauditorisunabletoobtainsufficientappropriateauditevidenceonwhichtobasetheopinionbutconcludethepossibleeffectsonthefinancialstatementsofundetectedmisstatementswouldbematerialbutnotpervasive(qualifiedonthebasisofaninabilitytoobtainsufficientauditevidence).Qualifiedopinionsaregivenintheformof'exceptfor'opinionsandexamplesofthewordingforsuchopinionscanbefoundinISA705(revised)para17會(huì)Examtechnique:auditorAdverseopinion–wheretheauditorconcludesthatthematerialmisstatementsinthefinancialstatementsarepervasive(thereforetheydonotpresentfairly/arenottrueandfair)and,會(huì)計(jì)問題，影響重大且廣泛Disclaimerofopinion-wheretheauditorconcludesthatthereisinsufficientevidenceonwhichtobaseanopinionandthepossibleeffectsofundetectedmisstatementsarematerialandpervasive審計(jì)問題，影響Examtechnique:auditorInordertodistinguishbetweenthesetypesofmodifiedopinionacandidatemustdeterminetwothings:Isthereamaterialmisstatementoristhereinsufficientevidencetoknowwhetherthereisamaterialmisstatement,andIstheeffectmaterialormaterialandExamtechnique:auditorIndeterminingwhetheramisstatementispervasiveISA705(revised)givesthefollowingdefinition:Pervasive–Atermused,inthecontextofmisstatements,todescribetheeffectsonthefinancialstatementsofmisstatementsorthepossibleeffectsonthefinancialstatementsofmisstatements,ifany,thatareundetectedduetoaninabilitytoobtainsufficientappropriateauditevidence.Pervasiveeffectsonthefinancialstatementsarethosethat,intheauditor’sjudgment:Arenotconfinedtospecificelements,accountsoritemsofthefinancialIfsoconfined,representorcouldrepresentasubstantialproportionofthefinancialstatements,orInrelationtodisclosures,arefundamentaltousers’understandingoftheExamtechnique:auditorCommonerrorsinthe–candidatesoftenidentifycorrectlythereisamaterialmisstatementintheaccountsthatisnotpervasive,thenstatethattheopinionshouldbeunmodifiedorthatthemisstatementshouldbecoveredbyanemphasisofmatterparagraph.Thisisincorrect;amaterialmisstatementwhichisnotpervasivewillresultinaqualifiedopinion.Examtechnique:auditorBasisforopinionTheauditor’sreportcontainsaparagraphaftertheopinionparagraphdescribingthebasisonwhichauditorsformtheiropinion.Whereamodifiedauditopinionisgiventhedetailsofthemisstatementsortheinabilitytoobtainsufficientappropriateauditevidencewillbeprovided.Commonerrorinthe–usingoutdatedstandardsandstatingthebasisforopinionparagraphispresentedbeforetheauditopinion.Examtechnique:auditorInarequirementthataskscandidatestoconsidertheeffectontheauditor’sreportratherthantheeffectononlytheauditopinion,thereareothermodificationswhichshouldbeconsidered.Emphasisofmatter(EoM)–usedbyauditorswheretheyconsiderthatthereisamattercorrectlypresentedordisclosedinthefinancialstatementsthattheauditordeemstobeoffundamentalimportancetoauser’sunderstandingofthefinancialstatements.Thisparagraphisusedtodrawattentiontothematterbeingemphasisedbyreferringtowhereitispresentedanddisclosedinfinancialstatements.ThisparagraphisnotusedforgoingconcernExamtechnique:auditorCommonerrorsinUsinganEoMparagraphforamaterialmisstatementorfailuretoobtainevidence–thesegiverisetoqualifiedopinionsUsinganEoMparagraphforuncertaintiessurroundinggoingconcern–thesehaveaseparateparagraphUsinganEoMparagraphforsomethingwhichwouldbeakeyauditmatterforalistedcompany.Examtechnique:auditorOthermatter(OM)–usedbyauditorswheretheyconsideritnecessarytocommunicateamatterotherthanthosepresentedordisclosedinthefinancialstatementsthatisrelevantforauser’sunderstandingoftheaudit,auditor’sresponsibilitiesortheauditor’sreport.Examtechnique:auditorOtherISA720(Revised),TheAuditor’sResponsibilitiesRelatingtoOtherInformationalsorequirestheinclusionofanOtherInformationparagraphwhichincludes:Astatementthatmanagementisresponsiblefortheotherotherinformation,ifany,obtainedbytheauditorpriortothedateoftheauditor’sreport,andforanauditoffinancialstatementsofalistedentity,otherinformation,ifany,expectedtobeobtainedafterthedateoftheauditor’sreportAstatementthattheauditor’sopiniondoesnotcovertheotherinformationandAccordinglythattheauditordoesnotexpress(orwillnotexpress)anauditopinionoranyformofassuranceconclusionthereonExamtechnique:auditorAdescriptionoftheauditor’sresponsibilitiesrelatingtoreading,consideringandreportingonotherinformationasrequiredbythisISA,andWhenotherinformationhasbeenobtainedpriortothedateoftheauditor’sreport,either:astatementthattheauditorhasnothingtoreport,oriftheauditorhasconcludedthatthereisanuncorrectedmaterialmisstatementoftheotherinformation,astatementthatdescribestheuncorrectedmaterialmisstatementoftheotherinformationCommonexam–notappreciatingthattheaudithasaresponsibilityforreportingmisstatementsintheotherinformationinadditiontoinconsistencies.Examtechnique:auditorMaterialUncertaintyRelatedtoGoingConcern–ISA570(revised)GoingConcernrequiresauditorstoincludeaparagraphdrawingattentiontouncertaintiesrelatingtogoingconcernwhichareadequatelydisclosedinthefinancialstatementsbyreferencetothosedisclosures.Examtechnique:auditorCommonexamIncludinggoingconcernissuesinanEoMparagraph–thisisnolongerinlinewithrevisedISAs570and706Statingthatanuncertaintyarisingduetogoingconcernsmeansthebreakupbasisofaccountingshouldbeused–anuncertaintysuchaswithdrawalofoneformoffinanceorthelossofamajorcustomermaygiverisetouncertaintiesbutdonotalwaysmeanacompanywillceasetradingandberequiredtousethebreakupbasisofaccounting.Candidatesshouldappreciatethatitisextremelyraretosee'break-upbasis'financialstatements,whichareonlyusedwhereareportingentityhasnooptionbuttowindupoperations.Usingtheuncertaintyparagraphwheretheuncertaintyisnotdisclosedinfinancialstatements–thiswouldgiverisetoamaterialmisstatementandrequireaqualifiedoradverseopinion.Examtechnique:auditorNotethatallthreeofthesemodificationsdonotresultinaqualifiedopinion.Theymodifyonlythereport.Noneoftheseisanalternativetoaqualificationoftheauditopinion.Examtechnique:auditorKeyauditmatters-Forlistedcompanies,auditorsarerequiredtoincludeaKeyAuditMatters(KAM)sectionwithintheauditor’sreportISA701CommunicatingKeyAuditMattersintheIndependentAuditor’sReportdefineskeyauditmattersas—thosemattersthat,intheauditor’sprofessionaljudgment,wereofmostsignificanceintheauditofthefinancialstatementsofthecurrentperiod.KeyauditmattersareselectedfrommatterscommunicatedwithThoseChargedwithGovernance.Theyareareasofhighrisk,highlevelsofmanagementjudgementorsignificanteventsortransactionsarisingwithintheperiod.Theauditorisrequiredtoexplainwhyeachmatterwasdeemedimportantandhowitwasaddressedduringtheaudit.ThissectioncannotbeusedtoavoidgivingaqualifiedExamtechnique:auditorExamAuditorreportingiscoveredbymanyISAsanditisoftenhardtovisualisehowanauditor’sreportshouldlook.Manycandidatesintheexamstillrefertooutdatedauditingstandardsordonotseemtounderstandhowtheauditor’sreportflows.Listedcompaniesgenerallypublishtheirannualreportonlineandthesecanbeaccessedfreely.Candidatesshouldtaketimetoreadtheauditor’sreportsforseveralrealcompaniestoappreciatethisfundamentalpartofthesyllabus.Theprofessionrevolvesaroundtheauditor’sreport,theauditprocessandtheethicsandprofessionalissuesthatsurrounditallleadtothiscrucialdocumentthatistheoutputoftheaudit.Viewanexampleofaauditor’sExamtechnique:auditorExamquestionsonreportingcantakedifferentforms.Here’ssomeexamplesfrompastquestionsandcommonmisstatesthathavebeenseenincandidateanswers.ThelinksbelowcanbeusedtoseethescenariodetailsrelatingtotheMarch/June2018,Q5ScenariosummaryCandidateswerepresentedwithanextractfromaproposedauditor’sreportforalistedcompany,comprisingKAM,qualifiedopinionandEoMExamtechnique:auditorCriticallyappraisetheextractfromtheauditor’sreportontheconsolidatedfinancialstatementsoftheBlackmoreGroupfortheyearended31MarchExamTocriticallyappraisecandidatesshouldconsidereachpieceofinformationandassesswhetheritiscorrectorincorrect,describingwhyandhowtoamenditasnecessary.Examtechnique:auditorCommonsmistakesinthestatingthequalificationmattershouldhavebeenanstatingthefinancialstatementsshouldbepreparedonabreakupbasisbecauseofapotentialbreachoffundingcovenants(it’sanuncertaintyovergoingconcernbutthecompanyisnotabouttocommencewindingup)statingthattheauditorshouldnotdisclosethepotentialuncertaintyregardinggoingconcernbecauseithasn’thappenedyet(theuncertaintyexiststhereforeitwillimpacttheauditor’sreport)notidentifyingthattheuncertaintydiscussiondidnotrefertoadequatedisclosuresintheaccounts(theseareneedediftheopinionwillnotbeExamtechnique:auditorCommonsmistakesinthenotidentifyingthattheEoMparagraphshouldhavebeenaMaterialUncertaintyRelatingtoGoingConcernparagraphsayingthereportwasmissingatitleandsignature–thiswasanextractnotacompletereportExamtechnique:auditorSeptember/December2017,Q5(b)(ii)ScenariosummaryCandidateswerepresentedwithmaterialmisstatementsidentifiedduringtheaudit.Partb(i)askedcandidatestoexplainmatterswhichshouldbediscussedwithmanagementinrelationtotheuncorrectedmisstatementsandthenleadtob(ii)belowAssumingthatmanagementdoesnotadjustthemisstatementsidentified,evaluatetheeffectofeachontheauditopinion.Examtechnique:auditorCommonsmistakesintheconsideringtheeffectsonwiderareasoftheauditor’sreportnotspecificallytheopinionassumingthatmisstatementsindisclosuresdidn’tneedaqualificationandrecommendingusinganEoMinstead-amaterialmisstatementindisclosurestillrequiresaqualifiedauditopinionbelievingthattheauditor’sdisagreementwithmanagementregardingthereductioninprov