Auditing and Assurance Concepts and Applications 1 2 Handout
September 21, 2022 | Author: Anonymous | Category: N/A
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NF>552/NF>5
Tlnom `g K`itmits Lu dh th ia lid Ls su rli km3 K`i kmp ts lid Lp po hk lth `i s <
(Qmmjs 7-1) Ludht `g Klsb ............................................................................................................................ > Hitr`dukth`i t` Ludht `g Klsb ..................................................................................................................... > Ludht @ncmkthvms lid Ur`kmdurms .............................................................................................................. ;
(Qmmjs 1-2) Ludht `g ^mkmhvlnoms ................................................................................................................. 4 Hitr`dukth`i t` ^mkmhvlnoms ....................................................................................................................... 4 Ludht @ncmkthvms lid Ur`kmdurms .............................................................................................................. 4
(Qmmj 5% `g K`fpliy N's mquhty, imhtbmr k`is`ohdlth`i i`r mquhty fmtb`d hs rmquhrmd. Lu dh t @n cmk th vms lid Ur` kmd ur ms Lu dh t @n cmk th vms
Qbmi ludhthia hivmstfmits, tbm prhikhplo `ncmkthvm g`r tbm sunstlithvm tmsts hs t` dmtmrfhim tbm g`oo`whia3 g`o o`whia3 Ls smr th `i Mxhstmikm
Lu dh t @n cmk th vms Loo rmk`rdmd hivmstfmits `i tbm stltmfmit `g ghilikhlo p`shth`i mxhst.
@kkurrmikm
Loo rmk`rdmd hik`fm gr`f hivmstfmits bls lkkrumd t` tbm mithty lt tbm rmp`rthia dltm. K`fpomtmimss Loo hivmstfmits `wimd ny tbm mithty lt tbm rmp`rthia dltm lrm hikoudmd hi tbm stltmfmit `g ghilikhlo p`shth`i. Loo hik`fm lkkruhia gr`f hivmstfmits lt tbm rmp`rthia dltm bls nmmi rmk`rdmd.
Tbhrd Xmlr K`fprmbmish vm Mxlfhilth`i (TX (TXKM) KM) Blid`ut Blid`ut
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Lu dh t Ur `k mdu rms @ntlhi `r prmplrm l ohsthia `g smkurhthms lid hivmstfmits `wimd ny tbm k`fpliy lid rmoltmd rmvmium lkk`uits lid rmk`ikhom tbmf t` tbm amimrlo omdamr. Hispmkt smkurhthms `i blid. @ntlhi k`ighrflth`i `g tbm smkurhthms bmod ny `tbmrs. Hi lddhth`i t` t` ludht ludht pr pr`kmdurms `kmdurms > lid ;, v`ukb g`r tbm smomktmd purkblsms lid sloms trlislkth`is `g smkurhthms durhia tbm ymlr.
*Ur`pmrty `g [TH [TH Ulam 8 `g >>
NF>552/NF>5
Ls smr th `i ^habts lid @nohalth`is
Lu dh t @n cmk th vms Tbm mithty `wis `r bls l omalo rhabt t` tbm hivmstfmits hikoudmd hi tbm stltmfmit `g ghilikhlo p`shth`i.
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7. 1.
Lu dh t Ur `k mdu rms Hi lddhth`i t` t` ludht ludht pr pr`kmdurms `kmdurms > lid ;, vmrhgy tbm kohmits' kut-`gg `g smkurhthms trlislkth`is. Umrg`rf liloythklo pr`kmdurms. K`fputm rmvmium gr`f smkurhthms hidmpmidmitoy. Dmtmrfhim tbm flrjmt vloum `g smkurhthms
Hivmstfmits lrm hikoudmd hi tbm
2.
Loo`klth`i
stltmfmit ghilikhlo p`shth`i lt tbm lppr`prhltm`glf`uits.
Lkkurlky
Hivmstfmit hik`fm hs hikoudmd hi tbm stltmfmit `g k`fprmbmishvm hik`fm lt tbm lppr`prhltm lf`uit.
lt tbm stltmfmit `g ghilikhlo p`shth`i g`r dltm. Mvloultm tbm fmtb`d g`r lkk`uithia smkurhthms. 552/NF>5
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Hidmghihtm ohgm3 I` g`rmsmmlnom ohfht t` tbm pmrh`d `vmr wbhkb tbm lssmt hs mxpmktmd t` amimrltm imt klsb higo`ws g`r tbm mithty. L k`fpliy's nrlid ilfm hs k`ishdmrmd li hidmghihtm hitliahnom lssmt nmklusm ht stlys whtb tbm k`fpliy g`r ls o`ia ls ht k`ithiums `pmrlth`is. Ghihtm ohgm3 L ohfhtmd pmrh`d `g nmimght t` tbm mithty. Li mxlfpom `g l dmghihtm hitliahnom lssmt w`uod nm l omalo larmmfmit t` `pmrltm uidmr li`tbmr k`fpliy's pltmit, whtb i` polis `g mxtmidhia tbm larmmfmit. Tbm larmmfmit tbus bls l ohfhtmd ohgm lid hs kolsshghmd ls l dmghihtm lssmt.
Lu dh t @n cmk th vms lid Ur` kmd ur ms
Tbm ghilikhlo stltmfmit lssmrth`is, spmkhghk ludht usmd t` lkbhmvm tbm `ncmkthvms g`r hitliahnoms lrm`ncmkthvms, ls g`oo`ws3lid tbm k`ff`i ludht pr`kmdurms trldhth`ilooy Ls smr th `i s Mxhstmikm `r `kkurrmikm
Lu dh t @ @nc nc mkt hv ms T` dmtmrfhim tblt hitliahnom lssmts mxhst lid lrm rmprmsmitmd ny k`itrlktulo rhabts, prhvhomams, `r mlrihia p`wmr `wimd ny tbm k`fpliy.
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K`fpomtmimss
T` dmtmrfhim tblt loo trlislkth`is rmoltmd t` hitliahnoms blvm nmmi pr`pmroy
4.
^habts lid @nohalth`is
rmk`rdmd T` dmtmrfhim tblt tbm k`fpliy `wis tbm hitliahnom lssmts
7.
Wloulth`i `r Loo`klth`i
T` dmtmrfhim tblt hitliahnom lssmts lrm stltmd lt k`st omss lf`rthzlth`i
1.
Urmsmitlth`i lid Dhsko`surm
T` dmtmrfhim wbmtbmr prmsmitlth`i lid dhsko`surms k`ikmrihia hitliahnoms lrm ldmqultm lid pmr UL[/UG^[.
2.
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Lu dh t Ur` kmd ur ms @ntlhi li liloyshs `g omdamr lkk`uits g`r hitliahnoms. Dhskuss tbm p`ohky lid mxlfhim d`kufmitlth`i supp`rthia hitliahnom lssmts. Tmst tbm pr`nlnhohty `g guturm mk`i`fhk nmimghts tblt whoo go`w t` tbm mithty. W`ukb lddhth`is t` `r lkquhshth`is durhia tbm ymlr. Mvloultm dhsp`shth`is lid
wrhtm-`ggs tbm ymlr Hi lddhth`idurhia t` ludht pr`kmdurm i`. >, pmrg`rf liloythklo pr`kmdurms Hi lddhth`i t` ludht pr`kmdurms i`. ; lid 4, mvloultm lf`rthzlth`i p`ohky lid vmrhgy k`fputlth`i lid lf`rthzlth`i Mvloultm ghilikhlo stltmfmit prmsmitlth`i lid dhsko`surm g`r hitliahnom lssmts.
(Qmmjs (Qm mjs >-;) >-;) Ludht `g Kurrmit Oh lnhohthms Hitr`dukth`i t` Kurrm Kurrmit it Oh lnhohthm lnhohthms s Tbm HL[ ;1/UL[ ;1 Ur`vhsh`is, K`ithiamit Ohlnhohthms, lid K`ithiamit Lssmts dmghim ohlnhohty ls "l prmsmit `nohalth`i `g tbm mithty lrhshia gr`f plst mvmits, tbm smttomfmit `g wbhkb hs mxpmktmd t` rmsuot hi li `utgo`w gr`f tbm mithty `g rms`urkms mfn`dyhia mk`i`fhk nmimghts."
Nlsmd `i tbm dmghihth`i, l ohlnhohty p`ssmssms tbm g`oo`whia mssmithlo kblrlktmrhsthks3 .
Ulst mvmit - Tbhs stltms tblt ohlnhohty `rhahiltms gr`f l plst mvmit `r trlislkth`i. Tbhs plst mvmit hs k`ff`ioy ji`wi ls li `nohalthia mvmit. Tbhs mvmit puts li mithty hit` l p`shth`i t` smttom tbm prmsmit `nohalth`i, whtb i` lotmrilthvm k`ursms `g lkth`i.
Tbhrd Xmlr K`fprmbmish vm Mxlfhilth`i (TX (TXKM) KM) Blid`ut Blid`ut
*Ur`pmrty `g [TH [TH Ulam >
NF>552/NF>5
;.
@utgo`w `g guturm mk`i`fhk nmim nmimghts ghts - Tbhs stltms tblt loo lkk`uithia ohlnhohty rmquhrms tbm plyfmit `g f`imy, i`i-klsb lssmts, `r kmrtlhi smrvhkm pmrg`rflikm.
UL[ < Urmsmitlth`i `g Ghilikhlo [tltmfmits pr`vhdms tw` (>) kolsshghklth`is g`r ohlnhohty3 ohl nhohty3 kurrmit ohlnhohty lid i`i-kurrmit ohlnhohty. Kurrmit Ohlnhohthms Ls dhskussmd hi UL[ 55
NF>552/NF>5
Tbm sblrm sblrmb`odmrs' b`odmrs' mquhty smkth`i `g tbm stltmfmit stltmfmit `g ghilikhlo p`shth`i sb`uod nm prmsmit prmsmitmd md hi sugghkhmit dmtlho t` pr`vhdm l komlr uidmrstlidhia `g tbm k`rp`rlth`i's klphtlo strukturm lid tbm s`urkms `g klphtlo kurrmitoy hi usm.
L k`rp`r k`rp`rlth`i lth`i fly hssum dhggmrmit kolssms `g sblrm klpht klphtlo. lo. [blrms fly nm hssumd i`-plr `r whtb stltmd vloum: `r whtb plr vloum. Dhggmrmit kolssms hikoudm `rdhilry sblrms lid prmgmrmikm sblrms. Qbmi sblrm klphtlo hs hssumd, hts plr vloum `r stltmd vloum hs krmdhtmd t` tbm sblrm klphtlo lkk`uit. Tbm mxkmss `g tbm pr`kmmds `vmr tbm plr `r stltmd vloum hs krmdhtmd t` sblrm prmfhuf `r lddhth`ilo plhd-hi klphtlo.
[blrms fly nm hssumd g`r klsb `r i`i-klsb k`ishdmrlth`i. Hg tbm sblrms lrm hssumd g`r i`i-klsb k`ishdmrlth`i, tbm sblrm klphtlo hs rmk`rdmd lt li lf`uit mqulo t` tbm g`oo`whia hi `rdmr `g prh`rhty3 . Glhr vloum `g tbm sblrm klphtlo hssumd ;. Ulr vloum `g tbm sblrm klphtlo hssumd.
Hg tbmrm lrm sblrm hssum k`sts, ttbmy bmy sbloo nm dmnhtmd t` sblrm sblrm prmfhuf lrhshia gr`f tbm sblrm hssulikm. Hg tbm sblrm prmfhuf hs hisugghkhmit t` lns`rn sukb mxpmisms, tbm mxkmss sbloo nm dmnhtmd t` "sblrm hssulikm k`sts" t` nm rmp`rtmd ls l k`itrl mquhty lkk`uit ls l dmdukth`i gr`f tbm g`oo`whia hi tbm `rdmr `g prh`rhty . ^mtlhimd mlrihias.
Trmlsury sblrms lrm sblrms sblrms `rhahilooy hssumd ny tbm k`rp`rlth`i k`rp`rlth`i nut rmlkquhrmd rmlkquhrmd g`r s`fm purp`sms. Tbm k`st fmtb`d hs usmd g`r lkk`uithia g`r tbm trmlsury sblrms hi tbhs mxlfpom. Trmlsury sblrms
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lrm rmk`rdmd lt k`st rmalrdomss `g wbmtbmr ht wls lkquhrmd nmo`w `r ln`vm plr vloum. Qbmi rmhssumd, trmlsury sblrms lrm los` krmdhtmd lt k`st. [blrm prmfhuf lkk`uit hs ldcustmd g`r liy dhggmrmikm nmtwmmi tbm rmhssulikm prhkm lid tbm k`st `g trmlsury sblrms. Hg tbm sblrm prmfhuf hs hisugghkhmit t` k`vmr tbm dhggmrmikm, liy rmflhidmr sb`uod nm kblramd t` rmtlhimd mlrihias lkk`uit.
^mthrmfmit `g sblrm klphtlo fmlis rmdmmfhia tbm sblrms sblrms whtb l klikmoolth`i `g tbm st`kj kmrthghkltms kmrthghkltms lid rmvmrthia tbm sblrms t` uihssumd nlshs.
Tbmrm lr lrm m tw` (>) jhids `g rmtlhimd mlrihias3 () Lppr`prhltmd rmtlhimd mlrihias rmprmsmit tbm p`rth`i tblt bls nmmi rmstrhktmd lid tbmrmg`rm i`t lvlholnom g`r dhvhdmid dmkolrlth`i.
Hi liy dhvhdmid dhstrhnuth`i, dhstrhnuth`i, `ioy `ioy tbm `utstlidhia sblrms l lrm rm mithtomd t` rmkmhvm dhvhdmids.
[blrm spoht d`ms i`t lggmkt tbm sblrm klphtlo `g tbm k`fpliy. Ht `ioy hikrmlsms `r dmkrmlsm dmkrmlsms s tbm iufnmr `g `utstlidhia sblrms `utstlidhia lid tbm plr vloum, nut tbm t`tlo sblrm klphtlo rmflhis
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tbm slfm. Dmtlkblnom sblrm wlrrlits wlrrlits tblt tblt lrm hssumd t`amtbmr t`amtbmr whtb whtb prmgmrmikm prmgmrmikm sblrms lrm rmk`rdmd rmk`rdmd ls mquhty lkk`uits g`r tbm lf`uit `g tbm pr`kmmds loo`kltmd lt tbm dltm `g hssulikm. Tbm loo`klth`i `g tbm hssum prhkm hs nlsmd `i tbm rmolthvm glhr vloums `g tbm dmtlkblnom sblrm wlrrlits lid prmgmrmikm sblrms.
[blrm w wlrrlits lrrlits tblt lr lrm m lttlkbmd t` n`ids lrm lsshaimd l p`r p`rth`i th`i `g tbm pr`kmmds pr`kmmds ushia tbm rmshdulo fmtb`d. Tbm flrjmt prhkm `g tbm n`ids whtb`ut tbm wlrrlits hs dmduktmd gr`f tbm t`tlo hssum prhkm, lid tbm rmflhidmr hs lsshaimd t` tbm sblrm wlrrlits. Qbmi hts b`odmrs mxmrkhsm sblrm wlrrlits, tbm lf`uit `g klsb rmkmhvmd pous tbm loo`kltmd vloum `g tbm sblrm wlrrlits lrm krmdhtmd t` mquhty lkk`uits, sblrm klphtlo (lt plr vloum), lid sblrm prmfhuf g`r tbm mxkmss `vmr plr.
[blrm wlrrlits `utstlidhia hs rmp`rtmd ls plrt `g tbm t`tlo sblrm prmfhuf.
[blrm `pth`is arlitmd arlitmd t` jmy mxmkuthv mxmkuthvms ms lid `gghkmrs `g tbm k`fpliy lrm rmk`rdmd ls k`fpmislth`i k`fpmislth`i mxpmism `vmr tbm pmrh`d hi wbhkb tbm smrvhkms lrm rmkmhvmd, fmlsurmd lt tbm glhr vloum lt tbm dltm
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`g arlit. Tbm lf`uit `g k`fpmislth`i mxpmism rmk`rdmd lt mlkb ymlr `g tbm vmsthia pmrh`d hs Tbhrd Xmlr K`fprmbmish vm Mxlfhilth`i (TX (TXKM) KM) Blid`ut Blid`ut
*Ur`pmrty `g [TH [TH Ulam >
NF>552/NF>5
krmdhtmd t` li mquhty lkk`uit kloomd "[blrm @pth`is @utstlidhia." Tbm lf`uit `g klsb rmkmhvmd lt tbm thfm `g mxmrkhsm `g tbm `pth`is, t`amtbmr whtb tbm lppr`prhltm nlolikm `g tbm [blrm @pth`is @utstlidhia, hs krmdhtmd t` mquhty lkk`uits, [blrm Klphtlo, lid [blrm Urmfhuf. Lu dh t @n cmk th vms lid Ur` kmd ur ms Hi mxlfhihia sblrmb`odmrs' mquhty lkk`uits, tbm ludht`r lhfs t` dmtmrfhim (l) tbm pr`prhmty `g tbm kblrams lid krmdhts t` tbm lkk`uits, (n) tbm pr`prhmty `g prmsmitlth`i `g tbm lkk`uits `i tbm stltmfmit `g ghilikhlo p`shth`i, lid (k) tbm kohmit's k`fpohlikm whtb rmomvlit omalo rmquhrmfmits. L sufflry `g tbm flilamfmit
lssmrth`is, ludht `ncmkthvms, lid ludht pr`kmdurms g`r tbm sblrmb`odmrs' mquhty lkk`uits lrm prmsmitmd. Ls smr th `i s Mxhstmikm `r `kkurrmikm
Lu dh t @nc @ nc mkt hv ms T` dmtmrfhim tbm vlohdhty `g rmk`rdmd sblrmb`odmrs' mquhty nlolikms lid wbmtbmr tbm trlislkth`is lktulooy `kkurrmd.
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NF>552/NF>5
(Qmmj (Qm mj ) ) K`rrmkth`i ` g Mrr`r s Lk k` ui th ia Mrr `r s Mrr`rs lrm uihitmith`ilo fhsstltmfmits hi tbm ghilikhlo stltmfmits, hikoudhia tbm `fhssh`i `g li lf`uit `r l dhsko`surm ([lo`slak`o, Thu, & Bmrf`shool, >55
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