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F8总结之SP和TOC

发布时间：2014-11-23   来源：文档文库   
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TOC
Tests of control /test /effectiveness / controls (in preventing, detecting or correcting material misstatements Substantive procedures /detecting material misstatements/ at the assertion level. They include tests of detail of transactions, balances, disclosures and substantive analytical procedures. 案例题尽量结合实际经验

Management letter format: 地址 The Directors (公司名称Blake Co （121 happy） Street （Happy） Town 5 December 2013 起头
Management letter Dear Sirs We write to bring to your attention （题目requirement内容） 正文 结尾
If you require any further information on the above, please do not hesitate to contact us. Yours faithfully （审计公司名称）

Sales system TOC 存在问题：
Authorization人不对：not senior enough/not sufficiently senior (without enough expertise and experience,not sufficiently independent Credit limit的问题：too high ,irrecoverable debt/too low, loss of sales
Control 的方法：
为防止customer发错单：an order acceptance is automatically sent to the customer by mail/email confirming the goods ordered and a likely despatch date. 为防止遗漏处理：Flag标记（sales order）as (fulfilled 为防止拖延outstanding receivable ,sales order; 为了避免拖延所设期限predetermined period +为保证所设期限有效执行Credit limit, outstanding sales order, discount level等等很多东西都需要review,且on a regular basis ，且by a responsible official(financial director..



TOC方法：
IT system Fictitious ….used, system 的反应 -----一般是针对电脑系统的toc 加上 With the client’s permission更为细致
例1Test data could be used to attempt to process orders via the website for items which are not currently held in inventory. The orders should be flagged as being out of stock and indicate an approximate waiting time.
对于电脑系统的就是跟它反着来然后看系统的例2 The auditor should attempt to enter an order for a fictitious 反应，如over agreed customer account number. The system should not accept this order. credit limit
例 3 With the client’s permission, attempt to enter a sales order which will take a customer over the agreed credit limit, the system should reject the order.
找人：
Discuss with((
enquiry of ( as to (

找一手证据：
For a sample of new customers accepted in the year, review the authorisation of the credit limit, and ensure that this was performed by a responsible official. Discuss with members of the sales team the process for setting sales discounts.
找样本的目大 的/样本数量
Approval/sigInspect a sample of (credit nature application from(eg: credit agency + Review/view (authority/signature For evidence of authorization, for example the signature 举例
例1. Select a sample of despatches by couriers and ask Pear for proof of despatch by viewing customer signatures.
例2. Review a sample of authorized capital expenditure forms and identify if the correct signatory has authorized them.
小（如：report）
Review report of (eg: credit limit或者 file of (.. for evidence of(report 可以反映的内容 review by
例1 Review the sales discount report for evidence of review by the sales director.
例2. Review the file of reconciliations to ensure that they are being performed on a regular basis and that they have been reviewed by a responsible official.
例3. Review a report of master data changes and review the authority of those making amendments. 例3 Review a sample of sales



invoices for evidence of authorization by a responsible official of any discounts allowed.
Agree Inspect a sample of (credit= application from(eg: credit agency +
选择1 follow through(核对的item如：current price /credit limit(item所在地如：in the current price list/used in the sales system
=》例1: Inspect a sample of processed credit applications from the credit agency and follow through the credit limit agreed to the sales system.
例2 Obtain a copy of the current price list and agree（ for a sample of invoices） that relevant/current prices have been used. 选择2 and agree that(期待的目的
如：credit limit used in the sales 例3 Inspect a sample of GDNs and agree that a valid sales invoice has been correctly system is correct raised.


To (warehouseObserve(process ascertain /assess……

by (to Visit a warehouse and observe the goods despatch process to assess whether all goods are double checked against the goods despatch note (GDN and the despatch list prior to sending out.
Cash system 11.06 Q1.c & 10.06 Q3.b 顾客邮寄现金付款 Objective Control 亲属关系
Related! Members who are related should not permitted to work in the same department whereby they can breach segregation of duty controls. 收到、记录现金时的审核: 至少两人 Eg1. Cash receipt should be processed by two members of staff. Eg2. A second member of the accounts team or staff independent of the accounts team should assist with the mail, one should open the post and the second should record XX in XX. Eg1. This should reduce the risk of one person being able to steal cash receipts. In order to commit the fraud these two members of staff would need to collude and to avoid detection, also collude with other members of the finance team. Eg2. ToC: observe the mail opening process to assess if the control is operating effectively. Mitigate risk This should reduce the risk of staff colluding and being able to commit a fraud without easily being discovered. All cash received are correctly recorded in the accounts.


Double check：保证准确、及时发现错误 Monthly customer statements should be sent out promptly to all customers. The sales ledger supervisor should review to ensure that all customers have been sent statements.
*** Bank reconciliation should be reviewed by a responsible official (different to the preparer of the reconciliation on a regular basis. Any unreconciled amounts should be promptly investigated and resolved.
PS: Bank reconciliations should be performed monthly. 轮岗: 员工不敢欺诈
??? If customers receive regular statements then they would be in a position to flag to XX that there was a delay in their payments being credited to their accounts. This should then flag a possible ‘teeming and lading’ fraud. *银行调节表很重要的原因
A small unreconciled amount can actually represent two large balances which almost cancel each other out and hence could indicate significant problems with cash and bank. ToC: Review the file of reconciliations for evidence of regular performance and review by senior finance team members. On a regular basis staff within the If staff members know that they will finance department should rotate need to rotate their roles then they duties. will be less inclined to commit fraudulent activities, as the chances of them being caught increase significantly. Management should consider establishing an internal audit department which could assess the effectiveness of controls and identify areas of weakness, as well as perform specific fraud investigations. Control Help to deter employees committing fraud. Fraudulent activities would be more likely to be identified quickly as internal controls would be tested.
建立内审部门

现金储存（题ToC Enquire of management where the Stored in a fire proof safe；
目中提到的）is Access to the safe should be restricted cash receipts not banked are stored. not adequate to supervised individuals. Inspect the location to ensure cash is for security of suitably secure.适当安全
(considerable cash receipts如果bank every several days 记账
Cash and cheques should be banked Inspect the paying-in-books(里面记every day 录了每天存入银行的钱 to see if cash and cheques have been banked daily or less frequently. Review bank statements against the cash received log to confirm all amounts were banked promptly.
Segregation of duties. 【Risk: Cashier incorrectly enter a Observe the process for recording


receipt ,and this could have impact on both cash received log to the relevant (题目中一起做的两个账户，and this weak ledgers and note if the segregation of segregation of duties could increase the duties is occurring. risk of teeming and lading.】
(原来那个人update(其中一个账户 （另外一个具体的人如团队中一个成员）update(另一个账户

Payroll system 有的在requiement中虽然写了identify and explain，但是后面有一个小问给你继续explain这时前面就直接identify就好 打卡过程
Deficiency（explain部分）
control Absent worker/more Reconcile number of workers physically present than he deserve on the production line with the number of employees logged in recorded in the recording system 加班问题
In order to get more All overtime should be authorised, either payment/log out late by( the shift manager authorizing (an estimated amount of overtime prior
to the( 工作内容 commencing or by the manager confirming the( recorded hours in the payroll department computer system after the shift has been completed 密码 Easily guess The code word should be based on a random sequence of letters and numbers and changed on a regular basis. 怕遗漏

tag the emails with a receipt and for those without a receipt ,ask the payroll department for reply in time to ensure that all emails are actually received Prior to net wages being sent to the bank for payment, (责任人the financial accountant should review and authorize it to ensure
that it is correct 怕支付给虚拟员工 ‘Dummy’ employees /
Fictitious staff
segregation of duties, HR who add the new staff to the staff list, the one who pay
通用
Approval/number consecutively/segregation of duties/sign to take responsibility/review by senior regularly



SP 万能procedure：
Presentation 1 在报表上的分类 2）披露对不对 Compare&Inquire
Rario: 1与同行比 2）与往年比 Cast and agree Subsequent events Supporting documents Confirmation letter/enquiry letter Send a(上面两者to(可以提供信息的人to obtain (想获得的信息
Representation letter Discuss with (responsible peopleabout(讨论的项目 to (讨论的目的如：assess the reasonableness of …and obtain a written management representation letter confirming( SAP and compare(在流量中比较常用：大致估算，如receivable days, estimated revenue

Accounts Receivable倾向于多记
Describe substantive procedures the auditor should perform to confirm XX’s year end receivables. 给一个balance，要判断它是否真实公平地反映了事实 找可能导致没有真实反映的原因，及相应的procedure 原因
Procedure 年末账目记混了（Cut 1.Inspect the dates of a sample of goods despatched notes(GDN before and just after the year end and follow through to the dates of relevant of f的问题）
sales invoice and the dates recorded in the sales day book to ensure they are recorded in the correct accounting period 2.For the last day of the financial year and the first day of the new financial year, agree total sales income from ticket office records to the cash book and receivables ledger ensuring they are recorded in the correct period. bad debt 的provision不合理（违背valuation）
1.Inspect the aged receivables report to identify any slow moving balances, discuss these with the credit control manager to assess whether an allowance or write down is necessary. 2.Review board minutes of XX to assess whether there are any material disputed receivables If any balances have been flagged as disputed by the receivable, then these should be discussed with management to identify whether a write down is necessary
3. Discuss with (credit control managerabout (the provision policy to (assess the reasonableness of the policiesand obtain a written management representation letter confirming(that the policies are considered reasonable


存在虚假的入账以增加收入或者资产(违背occurrence，故意
通过给顾客发询证函来确认balance的真实性1.详细版Select a sample of those customers with strange receivable balances(material balance/small balance with large transaction/zero or negative balance/balance with long aging,prepare the confirmation letter which ask the customer for the amount due to the company and send to the management for review and approval then send them out and receive directly by the auditor 简单版Select a sample of customers then obtain direct confirmation from the (customer的名称/of the amounts due to（公司的名称）using a receivables confirmation letter. 2. (通过期后收到cash说明receivable是否真实Where direct confirmation is not possible, obtain evidence of cash receipt after the end of the financial year from the bank statements of (公司名称 post year follow through to
pre-year-end receivable balances 3.Review after date sales day book for debit notes indicating that sales may have been overstated in the prior year.
没有发生的transaction误记入账目(违背occurrence无意
发生的transaction忘记计入账目（completeness的问题）
在加总时加错了或者在记账时数目记错了（accuracy的问题）
Select a sample of year-end receivable balances and agree back to valid supporting documentation of GDN and sales invoices in order to ensure existence and accuracy
Select a sample of valid supporting documentation of GDNs and invoices and trace to the sales day book to ensure the completeness 把control account 和sales ledger的list核对1.Cast the list of receivables on the receivable ledger and agree to the total on the receivable ledger control account. 把general ledger 和sub-ledger的list核对2.Obtain the detailed list sorted by the customer and agree to the total on the general ledger and the financial statements （从list到total）
SAP 3.Select a sample of year-end receivable balances and agree back to valid supporting documents of GDNs and sales invoices in order to ensure existence and accuracy （从balance到supporting documents）
Calculate average receivable days and compare this to prior year, investigate any significant differences. If there is unusual fluctuation, then discuss with the managers about the reason. 1.Obtain the statement of financial position of(公司名称 and ensure that the receivables amount is disclosed as a current asset
Presentation
2.Review the sales ledger for any credit balances and discuss with management whether these should be reclassified as payables 可以与provision结合起来

Provision& current liability 作为一种会计估计



要recognition:评估可能性+可以计量
是否需要记Provision 信息来源
Discuss with management
提供信息
(issue的内容，如：the nature of the dispute between Smoothbrush and the former finance director (FD,to ensure that a full understanding of the issue is obtained and to assess whether an obligation exist. Write to the company’s lawyers
to obtain their views as to the probability of the （负债发生的scenario,如FD’s claim being successful.）
Review board minutes and any company the former FD’s claims of unfair dismissal/the reorganization to assess if a reliable estimate of any potential to assess whether there is any evidence to (公司可能得为之支付的事情如：support the former FD’s claims of unfair dismissal.（评估可能性）
correspondence about(可能导致liability的事项如： payments can be made.(是否能量化
若要记，怎样确认figure的正确性
拆成明细并给明细找到supporting documents Obtain a breakdown of the (具体项目如：reorganization provision and for the costs included within the provision, agree to supporting documentation to confirm validity
of those items. Cast the breakdown of the reorganization provision to ensure arithmetical accuracy Obtain evidence of subsequent payment from the bank statement or cash book after the year end to confirm if the amount of the provision at the yearend date is reasonable. Recalculate一下保证计算的正确性 看期后的支付
Representation letter Obtain a written representation letter from the confirming their view (公司采取做法的依据及做directors of (公司名称
法是对的如 the former FD’s chances of a successful claim are remote, and hence no provision or contingent liability is required.
disclosure Review the disclosures of the( 题目中讨论的项目reorganization in the financial statements to ensure they are in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets.
AP倾向于少记 原因

年末账目记混了（Cut Inspect the dates of a sample of goods received notes(GRN before and just after the year end and follow through to the dates of relevant of f的问题）



invoice received and the dates recorded in the purchase day book to ensure they are recorded in the correct accounting period

如果只说Select a sample of invoices received after the year end and trace to the GRN and purchase day book to ensure that the purchase are recorded in the correct accounting period 少记了payable:存在虚假的做账以减少负债
/发生的transaction忘记计入账目（completeness的问题）
通过给顾客发询证函来确认balance的真实性Select a sample of payable balances, especially for the abnormal balances and perform a trade payables circularization, reconcile the obtained supplier statements to the purchase ledger balances, and investigate any differences. Review the list of trade payables against prior years to identify any significant omissions.
方法是对的才能保证最后balance的正确性Enquire of management their process for identifying goods received but not invoiced in the purchase ledger to ensure that the recognition method is reasonable 看期后实际支付或者需要支付的款项与前一会计年度交易有关Review after date invoices /credit notes /payments, if they relate to the current year then follow through to the purchase ledger or accrual listing to ensure completeness（其实是都是观察期后事项可是目的不一样,在写的时候和completeness和cut-off其实是一样的）
退了货未发生但还在账上（违背occurrence） 在加总时加错了或者在记账时数目记错了（accuracy的问题）
Review the payable ledger for old unpaid invoices.Enquire of the chief account the reason for non-payment,which may be indicative of goods being returned and this may lead to the payable figure being overstated. 1.把general ledger 和sub-ledger的list核对Cast the list of trade payables from the purchase ledger and agree to the balances on the general ledger and the financial statements. 2.把control account 和sales ledger的list核对cast the list of payables on the purchase ledger and reconcile the total of purchase ledger with the total of purchase ledger control account. （从list到total）
3.Select a sample of year-end payable balances and agree back to valid supporting documents of GRNs and invoices received in order to ensure existence and accuracy （从balance到supporting documents）
SAP等general分析 Presentation
Calculate the trade payable days for 公司名称and compare to prior years, investigate any significant difference, in particular any decrease for this year. 1.Ensure payables included in financial statements as current liabilities to confirm the correct classification of payable. 2.Review the purchase ledger for any debit balances, for any significant amounts discuss with management and consider reclassification as current assets.


Revenue:倾向于数据的分析 需得到什么信息

用信息做什么 分析后怎么办


budgeted income of (公司名称 for the year
sales income from Compare actual income to it
. Ask the directors of(公司名称
to explain any significant deviations
the Compare it with the income of this Obtain explanations from the year
previous year/day 与revenue密切相关的要素parks and change directors with abnormal trend significantly better or worse than expected, obtain explanations from the directors of it.
Compare these trends to the results Where（公司名称）
performed （如：popularity of theme obtained by （公司名称）

in
customer numbers）

Payroll expense Salary，wage和pay这三个词都可以表示“工资”，但其含义不同。salary是指非体力劳动者所得到的“工资、薪水”，通常按月，有时按季或年计算（Salary is usually paid monthly,sometimes three months or a year,for a job,esp.as for workers of higher skill and rank）；wage指简单劳动或体力劳动者所得的“工资、工钱”，通常按周、日等短期计算发给（Wages are paid weekly for a job,esp.as for labourers or workers.），常用复数形式；pay指不论工作性质如何，针对劳动所支付的报酬，它包含salary和wage（s）（pay is paid for a job），为不可数名词。 Agree the total wages and salaries To the detailed trial balance expense in the payroll system


For salaries, total net pay in to the listing of payments the payroll records through bank transfer or the

cash book. For wages, total cash the weekly wages paid

withdrawn for wage payments recorded in the cash book to confirm completeness and plus any surplus cash accuracy. subsequently banked the year-end tax liabilities
the payroll system records and subsequent payment in the post year-end cash book (select examplethe individual records of hours worked to wages and salaries in the ensure that individual are paid payroll system fairly. recalculate the gross and net pay and agree to the payroll (expense 涉及到较多的计算 records to verify accuracy. For a sample of employees Re-perform calculation of statutory deductions to confirm
whether correct deductions for this year have been made. Select a sample of joiners and leavers, agree their start/leaving date to supporting documentation(for example the offer/ the resignation letter, recalculate that their first/last pay was accurately calculated and recorded. Review the total payroll Compare this to prior year and budgets and and discuss with expense/ monthly payroll (跟management any significant variances. Income类似都是流量适合用


compare的方式

Inventory
compare Calculate the trade inventory days for 公司名称and compare to prior years, investigate any significant difference, in particular any increase for this year Inventory counting

参与存货盘点时

抽样检查 the controls in operation of
Attend the inventory count (if one is to be performed at the (盘点地点，如：third party warehouses to review the controls in operation of inventory counting to ensure the completeness and existence of inventory. Select a sample of physical stock in the warehouse, obtain the relevant GRNs and agree to the inventory full list(inventory sub-ledger to ensure the completeness
Select a sample of inventory items from the inventory full list ,obtain details such as the store location and agree to the physical stock to ensure existence. Damaged? Observe the physical condition of the stocks, if damaged, document the finding details and discuss with the management about its net realizable value Slow-moving？
Obtain the inventory list and check the purchase dates and finish dates to identify any slow-moving, document the finding details and discuss with the management about its net realizable value (盘点时间不inventory balances and condition Send a confirmation letter requesting direct confirmation of inventory balances and condition at year end from (询证函发往的地方如the third party warehouse 自己搜集证据
Inspect the GRNs and GDNs occurred between the count date and the year end, add the amount of changes to the amount at count date and agree the results to the inventory full list/ledger at the year end. 在y/e问仓库量
Valuation test

自己搜集证据判断standard cost 是否合理 difference Basis of standard costs applied to
the inventory Discuss with management of (公司名称 the basis of the standard costs applied to the inventory valuation, and how often these are reviewed and updated. If necessary, obtain a representation letter from them confirming their view that the standard cost they use is reasonable. Obtain a breakdown of the standard costs and agree a sample of these costs to actual purchase invoices or wage records to assess their reasonableness.
Review the level of variances between standard and actual costs and discuss with management how these are treated.
Standard cost valuation

Selling price 看期后卖多少
Obtain sales invoices issued after the year end to check the actual selling price ,if no invoices issued, check the average selling price in the industry NRV Cut -off 存货盘点时已解决 年前
从帐到实保证existence Select a sample of transactions from the purchase (sale list between 15 days before the year end and the year end and inspect the relevant GRNs(GDNs to ensure that the goods are received(dispatchedbefore the year end. 从实到账保证completeness Select a sample of GDNs(GRNs occurred several days before the year end and trace to the inventory list to ensure that they are excluded(included in the current year.
年后
从帐到实保证existence Select a sample of transactions from the purchase (sale list between the year end and the final audit and inspect the relevant GRNs(GDNs to ensure that the goods are received (dispatched after the year end.
从实到账保证completeness Select a sample of GDNs(GRNs occurred several days after the year end and trace to the inventory list to ensure that they are excluded(included in the next year.

Recognition method disclosure

Discuss with the chief accountant to ensure whether the inventory is recognized at the lower of cost and net present value, if not obtain explanation and assess its reasonableness Ensure inventories included in financial statements as current assets to confirm the correct classification of inventories.

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