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[专业英语]2007年注册会计师考试加试《英语》辅导讲义（二） [复制链接]

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— 本帖被阿文哥从注册会计师考试试题移动到本区(2012-07-02) —

      2007年注册会计师考试加试《英语》辅导讲义（二），Materiality is the magnitude of an omission or misstatement of accounting information that, in the light of surrounding circumstances, makes it probable that the judgment of a reasonable person relying on the information would have been changed or influenced by the omission or misstatement.

四、审计英语讲解
Auditing
1. Assurance engagements and external audit
◇Materiality, true and fair presentation, reasonable assurance
Materiality is the magnitude of an omission or misstatement of accounting  information that, in the light of surrounding circumstances, makes it probable  that the judgment of a reasonable person relying on the information would have  been changed or influenced by the omission or misstatement. An auditor must  consider materiality both in (1) planning the audit and designing audit  procedures and (2) evaluating audit results.
◇Appointment, removal and resignation of auditors
◇Types of opinion: standard unqualified opinion, Unqualified with additional  explanatory language, qualified opinion, adverse opinion, disclaimer of  opinion
◇Professional ethics: independence, objectivity, integrity, professional  competence, due care, confidentiality, professional behavior
◇Engagement letter
2. Planning and risk assessment
◇General principles
○Plan and perform audits with an attitude of professional skepticism
○Audit risks = inherent risk × control risk × detection risk
(1) Inherent risk refers to the likelihood of material misstatement of an  assertion, assuming no related internal control. This risk differs by account  and assertion.
(2) Control risk is the likelihood that a material misstatement will not be  prevented or detected on a timely basis by internal control. This risk is  assessed using the results of tests of control.
(3) Detection risk is the likelihood that an auditor’s procedures lead to an  improper conclusion that no material misstatement exists in an assertion when in  fact such a misstatement does exist. The auditor’s substantive tests are  primarily relied upon to restrict detection risk.
○Risk-based approach
◇Understanding the entity and knowledge of the business
The CPA should obtain a level of knowledge of the client’s business that will  enable effective planning and performance of the audit in accordance with  generally accepted auditing standards. This knowledge helps the auditor in
(1) Identifying areas that may need special consideration
(2) Assessing conditions under which accounting data are produced, processed,  reviewed and accumulated
(3) Evaluating accounting estimates for reasonableness (e.g., valuation of  inventories, depreciation, allowance for doubtful accounts, percentage of  completion of long-term contracts)
(4) Evaluating the reasonableness of management representations
(5) Making judgments about the appropriateness of the accounting principles  applied and the adequacy of disclosures
◇Assessing the risks of material misstatement and fraud
○Materiality (level), tolerable error
◇Analytical procedures
Analytical procedures are normally used at three stages of the audit: (1)  planning, (2) substantive testing, and (3) overall review at the conclusion of  an audit. They are required during the planning and overall review stages.
Analytical procedures used for 3 purposes:
(1) Planning nature, timing, and extent of other auditing procedures
(2) Substantive tests about particular assertions
(3) Overall review in the final stage of audit
◇Planning an audit
◇Audit documentation: working papers
◇The work of others
○Rely on the work of experts
○Rely on the work of internal audit
3. Internal control
Internal control is a process effected by an entity’s board of directors,  management, and other personnel—designed to provide reasonable assurance  regarding the achievement of objectives in the following categories: (1)  reliability of financial reporting, (2) effectiveness and efficiency of  operations, and (3) compliance with applicable laws and regulations.
Five components of internal control
(1) control environment
(2) risk assessment
(3) control activities
(4) information and communication
(5) monitoring
◇The evaluation of internal control systems
○Tests of control
○Substantive procedures (time, nature, extent)
◇Transaction cycles: revenue, purchases, inventory, etc.
4. Audit evidence
◇Obtain sufficient, appropriate audit evidence
◇Assertions contained in the financial statements: completeness, occurrence,  existence, measurement, presentation and disclosure, rights and obligations,  valuation
◇The audit of specific items
○Receivables: confirmation
○Inventory: counting, cut-off, confirmation of inventory held by third  parties
○Payables: supplier statement reconciliation, confirmation
○Bank and cash: bank confirmation
◇Auditing sampling
5. Review
◇Subsequent events
◇Going concern
◇Management representations
◇Audit finalization and the final review: unadjusted differences
6. Reporting
审计
1.鉴证业务和外部审计
◇重要性，真实、公允反映，合理保证
◇注册会计师的聘用，解聘和辞职
◇审计意见类型：标准无保留意见，带解释段的无保留意见，保留意见，否定意见，无法表示意见
◇职业道德：独立、客观和公正，专业胜任能力，应有的关注，保密性，职业行为
◇审计业务约定书
2.审计计划和风险评估
◇一般原则
○计划和执行审计业务应保持应有的职业怀疑态度
○审计风险=固有风险×控制风险×检查风险
○风险导向型审计
◇了解被审单位
◇估计重大错报或舞弊的风险
○重要性水平，可容忍误差
◇分析性复核程序
◇制定审计计划
◇审计记录：工作底稿
◇利用其他人的工作
○利用专家工作
○利用内部审计人员的工作
3.内部控制
◇内部控制系统评价
○控制测试
○实质性程序(时间，性质，范围)
◇交易循环：收入循环、采购循环、存货循环，等等。
4.审计证据
◇获取充分、适当的审计证据
◇财务报表所包含的认定：完整性，发生，存在，计价，表达和披露，权利和义务, 估价
◇具体项目的审计
○应收账款：函证
○存货：盘点，截止测试，对第三方持有存货进行函证
○应付账款：供应商对帐，函证
○货币资金：银行函证
◇审计抽样
5.复核
◇期后事项
◇持续经营
◇管理层声明
◇终结审计和最后复核：未调整差异
6.审计报告
Examples for audit report
(1) Standard unqualified report
Independent Auditor’s Report
To: Board of Directors and Stockholders
ABC Company
We have audited the accompanying balance sheet of ABC Co., Ltd. (“ the  Company”) as of December 31, 2006, and the related statements of income and cash  flows for the year then ended. These financial statements are the responsibility  of the Company’s management. Our responsibility is to express an audit opinion  on these financial statements based on our audits.
We conducted our audits in accordance with the Independent Auditing Standards  for Certified Public Accountants. Those Standards require that we plan and  perform the audit to obtain reasonable assurance about whether the financial  statements are free of material misstatement. An audit includes examining, on a  test basis, evidence supporting the amounts and disclosures in the financial  statements. An audit also includes assessing the accounting principles used and  significant estimates made by management, as well as evaluating the overall  financial statement presentation. We believe that our audits provide a  reasonable basis for our opinion.
In our opinion, the financial statements give a true and fair view( or are  presented fairly, in all material respects, ) the financial position of ABC as  of December 31, 2006 , and the results of its operations and its cash flows for  the year then ended in conformity with the requirements of both the Accounting  Standard for Business Enterprises and other relevant financial and accounting  laws and regulations promulgated by the State.
Zhang Hua, CPA
February 26, 2007
(2) Unqualified with additional explanatory language
Independent Auditor’s Report
To: Board of Directors and Stockholders
ABC Company
We have audited the accompanying balance sheet of ABC Co., Ltd. (“ the  Company”) as of December 31, 2006, and the related statements of income and cash  flows for the year then ended. These financial statements are the responsibility  of the Company’s management. Our responsibility is to express an audit opinion  on these financial statements based on our audits.
We conducted our audits in accordance with the Independent Auditing Standards  for Certified Public Accountants. Those Standards require that we plan and  perform the audit to obtain reasonable assurance about whether the financial  statements are free of material misstatement. An audit includes examining, on a  test basis, evidence supporting the amounts and disclosures in the financial  statements. An audit also includes assessing the accounting principles used and  significant estimates made by management, as well as evaluating the overall  financial statement presentation. We believe that our audits provide a  reasonable basis for our opinion.
In our opinion, the financial statements give a true and fair view( or are  presented fairly, in all material respects, ) the financial position of ABC as  of December 31, 2006 , and the results of its operations and its cash flows for  the year then ended in conformity with the requirements of both the Accounting  Standard for Business Enterprises and other relevant financial and accounting  laws and regulations promulgated by the State.
In the course of our audit, we have reminded the management that, due to the  sharp price decline in the stock market since January 2003, an investment loss  totaling RMB5 700 000 would be incurred if the short-term equity securities held  by your Company were sold out on March 10.
Zhang Hua, CPA
February 26, 2007