Auditing审计考试整理

选择题10*2=20 判断10*1=10 简答3*10=30 计算分析1*20=20 综合1*20=20

小题（借鉴往年的范围整理，如有不符合，萝卜不负责。）

一.P9 .An Att attestation service is a type of assurance service in which the CPA firm issues a report about a subject matter or assertion that is

made by another party. Attestation services fall into five categories: 1. Audit of historical financial statements

2.Audit of internal control over financial reporting 3.Review of historical financial statements

4.Attestation services on information technology

5.Other attestation services that may be applied to a broad range of subject matter

二.P11 CPA firms perform numerous other services that generally fall

outside the scope of assurance services. Three specific examples are: 1.Accounting and bookkeeping services 2.Tax services

3. Management consulting services 三、P17，c. Which of the following professional services is an attestation engagement (1) A consulting service engagement to provide computer-processing advice to a client. (2) An engagement to report on compliance with statutory requirements.

(3) An income tax engagement to prepare federal and state tax returns. (4) The preparation of financial statements from a client's financial records.

d. Which of the following attributes is likely to be unique to the audit work of CPAs as compared to the work performed by practitioners of other professions (1) Independence. (2) Competence. (3) Due professional care. (4)Complex body of knowledge.

四、independence of mind andindependencein appearance.lndependence of mind.reflects the auditor's state of mind that permits the audit to be iased attitude. Inderendence of mind reflects a long-standing requirement that members be independent in fact. Independence in appearance is the result of others' interpretations of this independence.If auditors are independent in fact but users believe them to be advocates for the client, most of the value of the audit functionislost. 五、P143

b. Because of the risk of material misstatement, an audit should be planned and per formed with an attitude of

(1) objective judgment. (3) professionalskepticism.

(2) independentintegrity. (4) impartialconservatism. c.The major reason an independent auditor gathers audit evidence is to (1 form an opinion on the financialstatements. (3) evaluate management.

(2) detect fraud. (4) assess controlrisk. 六、P169

a. Which of the following types of documcntary evidence should the auditor consider to be the most reliable

(1) A sales invoice issued by the client and supported by a deliyery receipt from an outside truckcr.

(2) Confirmation of an account payabic balance mailed by and rctumcd directly to the auditor.

(3) A check, issued by the company and bearing the payee's endorsemcnl, that is included with the bank siatemenrs mailed directly to the auditor.

(4) An audit scheduJe preparcd by the clients controller and reviewed by the clienr's treasurer.

b. Which of the follawing statements concerning audit evidence is true (l) To be approptiate. audit evidence should be eirher persuasive or relevant, but need not be reliable.

( The measure of thequantity and quality oT audit cyidcnce lies in the auditor's judgemcnt.

(3) The difficulty and expense of obtaining aiidit evidence concerning an account balance is a valid basis for omiuing the test, . (4) A client's accounung records can be sufficient audii evidence to support the fmancial statcments.

c. Audit evidence can comein different forms with different degrees ofpersuasiveness. Which of the foIlowingis thcleast persuas've type ofevidence .

(1）Vendor's invoice

(2) Bank statement obraincd from the client (3) Computations made byihe auditor (4 Prenumbcred salesinvoices

d. Which of the followingpresurnptionsis correct about the reIiabilityof audit evidence (l) Information obrained 'nd'rec\"y.from outside sources is the most reliable audit evidence.

(2) To be reliable, audit cvidence should be convincinS rather than rnerelypersuasive. (3) Reliability of audit evidence refers to the amount of corroborative evidence obtained.

(4 Effective internal control provides more assurance about the reliability of audit evidence.

七、P229

The following questions concern audit risk. choose the best answer a. Some account balances, such as those for pensions and leases, complex calculations. The susceptibility to matcriaI misstatements accounts is defined as Choose the best are the result of in these types of

(l) audit risk. (2) detection risk. (3) inherent risk. (4) sampling risk. b. As the acceptable level of detection risk decreases, the auditor may do one or more of the followinS except change the

(l) nature of audit procedures to more effective procedures. (2) timing of audit procedures, by perhaps performing them at year-cnd rather than an interim date.

(3) extent of audit procedures, by perhaps using larger sample sizes. (4 assurances provided by audit procedures to a lowerlevel. c. Inherent risk and control risk differ from planned detection risk in that they

(l) arise from the misapplication of auditing procedures.

(2) may be assessed in either quantitative or nonquantitative terms. ( 3exist independently of the financial statement audit. (4) can be changed at the auditor's discretion. 八、P264

b. Which of the following would not be considered an inherent limitation of the potential effectiveness of an entity's internal control structure (1) Incompatible duties (3) Mistakes in judgment

(2) Management override (4) Collusion among employees

c.Actions, policies, and procedures that reflect the overall attitude of management, directors, and owners of the entity about internal control relate to which of the following internal control components?

(1) Control environment (3) Risk assessment (2) Information and communication (4) Monitoring Vendor account d.reconciliations are performed by three clerks in the accounts payable department on Friday of each week. The accounts payable supervisor reviews the completed reconciliations the following Monday to ensure they have been completed. The work performed by the supervisor is an example of which COSO component

(1) Control activities (3) Risk assessment

(2) Information and communication (4) Monitoring 简答

1.Element of assurance engagement(P29 上lesson notes 里找，5句话，一句2分)

①Three party relationship: Users—shareholders

Practitioner—auditor，and Responsible party—managements

②subject matter:financial statements ③suitable criteria

④sufficient,appropriate evidence

⑤conclusion:the audit report provides an opinion on whether the

financial statements conform in all material respects with the applicable financial reporting framework.

2.Element of internal control（要素列出来，举例子） ①control environment

Accountability

Commitment to compentence Organization structure ②risk assessment Monitor changes

Consider the potential ③control activities

Develop general controls over technology

Establish appropriate policies,procedures,and expectations ④information and communication

Use relevant,quality information to support the functioning of internal controls

Communicate with external parties relevant information related to internal controls ⑤monitoring

Perform periodic evaluations

3.understand the client business(5条) ①industry and external environment ②business operations and processes ③management and governance ④objectives and strategies ⑤measurement and performance

4.internal control&substantive test（测试什么，举例子） 5.control activity

①adequate separation of duties充分责任分离 会计和货币资金岗位分离

②proper authorization of transaction and activities适当的授权 ③adequate documents and records 充分的凭证和记录

④physical control over assets and records在资产和记录上的实物控制 ⑤independent checks on performance独立绩效检查 计算

计算分析就是靠审计风险模型的计算以及风险要素的影响因素，答题主要涉及到内控的三个，以及审计的目标。

Following are situations which use the audit risk model to plan audit evidence requirements. The numbers are used only to demonstrate the relationships among the factors in the risk model. Situation 1 2 3 4 Audit risk 1% 3% ?(a) 5% Inherent risk 100% ? (b) 60% 50% Control risk 50% 50% 20% ? (c) Detection risk ? (d) 10% 25% 20% Required:

(1)Using the audit risk model, calculate the missing percentage for each situation.

PDR=AAR/(IR*CR)

PDR=planned detection risk AAR=acceptable audit risk IR=inherent risk CR=control risk

a. audit risk =DR*IR*CR=25%*60*20%=3%

b inherent risk=AR/(DR*IR)=3%/(10%*50%)=60% c control risk =AR/(DR*IR)=5%/(20%*50%)=50%

d detection risk =AR/(IR*CR)=1%*(100%*50%)2%(给出98%的保证) (2)which of the four situations requires the greatest degree of assurance from substantive audit evidence and which requires the least? 1 3

检查风险越低，保证程度越高，收集证据越多

(3) For each of the following independent factors, identify the type of risk they most directly relate to or are influenced by:

i. Accounts involving complex calculations IR 跟计算和账户本身的

性质有关

ii.Accounts consisting of amounts derived from accounting estimates

IR

iii. Selection of an inappropriate audit procedure DR 审计师用

的程序不对

iv.Misinterpreting the audit results DR 和审计师有关

v. Use of a perpetual inventory system CR （永续、定期盘存：内控

系统）

(3)Assume the auditor decides to increase the level of assessed control risk ,What impact, will there be on the audit procedures (nature, extent, and timing of audit procedures) ①high quality

②large size

③closer to date

风险要素判断

①acceptable audit risk

Reliance by external users Likehood of financial failure Integrity of management ②inherent risk

Nature of business

Results of previous audits

Initial versus repeat engagement Related parties

Complex or nonroutine transactions Judgment required Makeup of population

Factors related to misstatements arising from fraudulent financial reporting

Susceptibility of assets to misappropriation ③control risk

Effectiveness of internal contols Planned reliance 综合

最后一个综合题就是考赵老师之前说过的，给出五个小例子，判断所属的业务循环，账户，认定和审计程序。还有一个内外部的证据，赵老师上课讲过的书上的习题部分。

1. Baggie International Co (Baggie) is a manufacturer of electrical equipment. It has factories across the country and its customer base includes retailers as well as individuals, to whom direct sales are made through their website. The company’s year end is 30 September 20X7. You are an audit supervisor of Suarez & Co and are currently reviewing documentation of Baggie’s internal control in preparation for the interim audit.

Baggie’s website allows individuals to order goods directly, and full payment is taken in advance. Currently the website is not integrated into the inventory system and inventory levels are not checked at the time when orders are placed. Inventory is valued at the lower of cost and net realisable value.

Goods are despatched via local couriers; however, they do not always record customer signatures as proof that the customer has received the goods. Over the past 12 months there have been customer complaints about the delay between sales orders and receipt of goods. Baggie has investigated these and found that, in each case, the sales order had been

entered into the sales system correctly but was not forwarded to the despatch department for fulfilling.

Baggie’s retail customers undergo credit checks prior to being accepted and credit limits are set accordingly by sales ledger clerks. These customers place their orders through one of the sales team, who decides on sales discount levels.

Required: identify and explain five deficiencies and Recommend a control to address each of these deficiencies

Control dificiences recommendation

2. Cherry Blossom Co (Cherry) manufactures custom made furniture and its year end is 30 April. The company purchases its raw materials from a wide range of suppliers. Below is a description of Cherry’s purchasing system. When production supervisors require raw materials, they complete a requisition form and this is submitted to the purchase ordering department. Requisition forms do not require authorization and no reference is made to the current inventory levels of the materials being requested. Staff in the purchase ordering department use the requisitions to raise sequentially numbered purchase orders based on the approved suppliers list, which was last updated 24 months ago. The purchasing director authorizes the orders prior to these being sent to the suppliers. When the goods are received, the warehouse department verifies the quantity to the suppliers dispatch note and checks that the quality of the goods received are satisfactory. They complete a sequentially numbered goods received note (GRN) and send a copy of the GRN to the finance department.

Purchase invoices are sent directly to the purchase ledger clerk, who stores them in a manual file until the end of each week. He then inputs them into the purchase ledger using batch controls and gives each invoice a unique number based on the supplier code. The invoices are reviewed and authorized for payment by the finance director.

Required: (i) Identify and explain FIVE deficiencies

(ii) Recommend a control to address each of these deficiencies

Control dificiences recommendation

①Requisition forms do not require authorization ② no reference is made to the ① Requisition forms should current inventory levels of the require materials being requested Authorization

③ suppliers list was last updated ② reference should be made to the 24 months ago current inventory levels of the ④ the warehouse department materials being requested verifies ③ suppliers list should be update the quantity to the suppliers ④ the warehouse department dispatch note verifies and checks that the quality of the quantity to the approved the goods received are purchase orders. satisfactory. ⑤ stores the purchase ledger ⑤stores the purchase ledger clerk clerk in in a manual file until the end of every a manual file until the end of every day. day.

④there will be a risk of receiving

⑤ there will be a risk of missing the purchase ledger clerk

3、 You are a member of the recently formed internal audit department of Oregano Co (Oregano). The company manufactures tinned fruit and vegetables which are supplied to large and small food retailers. Management and those charged with governance of Oregano have concerns about the effectiveness of their sales and despatch system and have asked internal audit to document and review the system. Sales and despatch system Sales orders are mainly placed through Oregano’s website but some are made via telephone. Online orders are automatically checked against inventory records for availability; telephone orders, however, are checked manually by order clerks after the call. A follow-up call is usually made to customers if there is insufficient inventory. When taking telephone orders, clerks note down the details on plain paper and afterwards they complete a three part pre-printed order form. These order forms are not sequentially numbered and are sent manually to both despatch and the accounts department.

As the company is expanding, customers are able to place online orders which will exceed their agreed credit limit by 10%. Online orders are automatically forwarded to the despatch and accounts department. A daily

pick list is printed by the despatch department and this is used by the warehouse team to despatch goods. The goods are accompanied by a despatch note and all customers are required to sign a copy of this. On return, the signed despatch notes are given to the warehouse team to file. The sales quantities are entered from the despatch notes and the authorised sales prices are generated by the invoicing system. If a discount has been given, this has to be manually entered by the sales clerk onto the invoice. Due to the expansion of the company, and as there is a large number of sale invoices, extra accounts staff have been asked to help out temporarily with producing the sales invoices. Normally it is only two sales clerks who produce the sales invoices. Required:

Identify and explain FIVE deficiencies in Oregano Co’s sales and despatch system and provide a recommendation to address each of these deficiencies.

Control dificiences recommendation

① telephone orders are checked ⑤ discount should entered by the manually by order clerks after the senior.call.

② clerks note down the details on plain paper and afterwards they complete a three part pre-printed order form

③ These order forms are not sequentially numbered

④ online orders which will exceed their agreed credit limit by 10% ⑤ discount has to be manually entered by the sales clerk onto the invoice

① telephone orders should checked in time.

② clerks note down the details on a three part pre-printed order form directly

③ These order forms should be sequentially numbered

④ online orders should not exceed their agreed credit limit by 10%