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1． Audit 定义‐背诵： External audits provide assurance to shareholders that the financial statements are prepared, in all material respects , in accordance with an applicable financial reporting framework.
2． Assurance engagement 定义‐背诵：
An assurance engagement is an engagement in which a practitioner express a conclusion designed to enhance the degree of confidence of the intended urs other than the responsible party about the outcome of the evaluation or measurement of a subject matter against criteria . 3． Assurance engagement 5要素，选择题‐知道：(审计是鉴证业务的一种)
* A cond element is a suitable subject
matter. The subject matter is the data
that the responsible party has prepared
and which requires verification.
* Suitable criteria are required in an
assurance engagement. The subject
matter is compared to the criteria in
order for it to be assd and an opinion
provided.
✓ Sufficient appropriate evidence has to be obtained by the practitioner in order to give the
required level of assurance.
✓ An assurance report is the opinion
that is given by the practitioner to the intended ur and
the responsible party .
Engagement
Level of Assurance Examples External audit
法令审计 Reasonable assurance Highest level
Positive expression
In our opinion , the financial statements prent fairly, in all material respects, in accordance with International Financial Reporting Standards. Review 审阅
Limited assurance
Moderate level
Negative expression Bad on our work described in this report, nothing has come to our attention that caus us to believe that the financial
statements do not prent fairly , in all
material respects, in accordance with IFRS
april fool4． Ture and Fair 选择题‐知道：
英语在线翻译中文尽管ISA 对真实公允没有定义，但我们可以如下理解：
✓ True ‐ Information is factual and conforms with reality in that there are no factual erros. In
addition it is assumed that to be true it must comply with accounting standards and any rel
evant legislation . Lastly true includes data being correctly transferred from accounting records to the financial statement.信息符合事实，遵守会计准则和法规。数据没有抄错。 ✓ Fair – Information is clear, impartial and unbiad , and also reflects plainly the commercial
substance of the transactions of the entity.信息清楚，不偏不倚，符合交易的商业实质。
5． Limitations of external audits 理解，一定要会！
✓Sampling – it is not practical for an auditor to test 100% of transactions and so they have to apply sampling methodologies in lecting balances/transactions to test. Therefore, there could be an error in an item not lected for testing by the auditor.
✓Evidence is persuasive not conclusive – the opinion is bad on audit evidence gathered;
however, while this evidence can indicate possible issues affecting the audit opinion, evidence involves estimates and judgements and hence does not give a definite conclusion. ✓Inherent limitations of internal control systems – an internal control system is operated by people and hence is liable to human error. In addition, there is the possibility of controls override by management and of collusion and fraud. It is impossible to remove all of the inherent limitations and as the auditor relies on the internal control systems, this can reduce the ufulness of the audit.
6．Asrtion 非常重要！！！定义‐背诵：
资产负债表认定 对象：All asts, liabilities and equity interests
Completeness完整性should have been recorded have been recorded.该记的，已记录了 Existence存在性 Exist记录的，都存在
Valuation估值 included in the financial statements at appropriate amounts价值正确
举例：IAS2存货carried at the lower of historical cost and NRV.
实质：从存货held for sale能够实现的经济利益economic来确认价值
The entity holds or controls the rights/obligation to the entity.
Rights& Obligations
权利和义务
利润表认定 对象：All transactions and events
Completeness完整性should have been recorded have been recorded.该记的，已记录了 Occurrence发生性 Recorded have occurred and pertain to the entity.记录的，都发生了 Accuracy机械正确性Relative amounts and other data have been recorded appropriately.适当Classification分类 Recorded in the proper accounts.正确恰当的科目
Cut‐off截止性 Recorded in the correct accounting period. 正确的会计期间
wood是什么意思舞弊三要素：Intensive动机、Opportunity机会、自我行为合理化
举例：明年的销售计入今年，来获得奖金提成
7．Audit risk定义‐背诵：
✓Audit risk is the 'risk that the auditor express an inappropriate audit opinion when the financial statements are materially misstated'.
✓The auditor shall obtain sufficient appropriate audit evidence to reduce audit risk to an acceptably low level.
✓It is made up of 3 component parts, inherent risk, control risk and detection risk.
8．Inherent risk定义‐背诵：
✓Inherent risk is the susceptibility of an asrtion about a class of transaction, account balance or disclosure to a misstatement that could be material, either individually or when aggregated with other misstatements, before consideration of any related controls.
✓Inherent risk is affected by the nature of an entity and factors which can result in an increa include:
‐Changes in the industry it operates in.
‐Events or transactions that involve significant accounting estimates.
举例：PESTEL跟政治、经济、社会、高科技、环境、法律高度相关的企业，IR风险比较高。另外，复杂计算比简单计算的出错率高；估计的数字比事实数据容易出错；其他考虑因素：客户的业务性质、以前审计的结果、初次审计还是连续审、关联方、非常规交易等。
9．Control risk定义‐背诵：
✓Control risk is the risk that a misstatement which could occur in an asrtion about a class of transaction, account balance or disclosure and which could be material, either individually or when aggregated with other misstatements, will not be prevented, or detected and corrected, on a timely basis by the entity’s internal control.
✓The following factors can result in an increa in control risk:
‐Lack of personnel with appropriate accounting and financial reporting skills.
‐Installation of significant new IT systems related to financial reporting.
10．D etection risk定义‐背诵：
✓Detection risk is the risk that the procedures performed by the auditor to reduce audit risk to an acc
eptably low level will not detect a misstatement which exists and which could be material, either individually or when aggregated with other misstatements. Detection risk is affected by sampling and non‐sampling risk.
✓Detection risk is affected by sampling and non‐sampling risk and factors which can result in an increa include:
‐Inadequate planning.
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‐Inappropriate assignment of personnel to the engagement team.
11．M ateriality定义‐背诵：
✓Misstatements, including omissions, are considered to be material if they, individually or in the aggregate, could reasonably be expected to influence the economic decisions of urs taken on the basis of the financial statements.
✓In asssing the level of materiality, there are a number of areas that should be considered.
First the auditor must consider both the amount (quantity) and the nature (quality) of any misstateme
nts, or a combination of both. The quantity of the misstatement refers to the relative size of it and the quality refers to an amount that might be low in value but due to its prominence could influence the ur’s decision, for example, directors’transactions.
✓As per ISA 320, materiality is often calculated using benchmarks such as 5% of profit before tax or 1% of total revenue or total expens. The values are uful as a starting point for asssing materiality.
✓The asssment of what is material is ultimately a matter of the auditor’s professional
judgement, and it is affected by the auditor’s perception of the financial information needs of urs of the financial statements and the perceived level of risk; the higher the risk, the lower the level of overall materiality.
✓In asssing materiality, the auditor must consider that a number of errors each with a low value may, when aggregated, amount to a material misstatement.
12．P erformance materiality定义‐背诵：
✓In calculating materiality, the auditor should also t the performance materiality level.
Performance materiality is normally t at a level lower than overall materiality. It is ud for testing individual transactions, account balances and disclosures. The aim of performance materiality is to reduce the risk that the total of errors in balances, transactions and disclosures does not in total exceed overall materiality.
gto什么意思13．B usiness risk定义‐背诵：
✓Business risk resulting from the entity's failure to meet its objectives and strategies that may result in material misstatement of the financial statements
✓It is usually split into financial risk, operational risk and compliance risk.
✓The auditor should obtain an understanding of the entity's process for:
‐ 辨识涉及财务报告目的的商业风险(举例：公司有现金流问题、客户破产、供应商涨价) ‐ 确认指出这些风险的措施
14．R isk asssment押题‐一定要会！！！
风险评估的步骤：Enquiries, Analytical procedures, Obrvation & Inspection.
典型例题：2008.6 Q3（学习理解）& 2015.6（练习）
常识：成本和费用应该随销售增长而增长
行业水平（假设）：当年行业景气，行业整体增长40%
答题思路：结合常识和行业水平，将文章中指出的背景/变化也一并考虑，串联起来分析不正常的现象，并给出一个合理的解释。（审计就是在之后的过程中验证这些解释） 不正常点 可能原因
公司表现不佳，销售还增长17% 1.可能针对行业整体而言的，行业整体增长40%的前
提下，17%增长是表现不佳；
2.可能销售收入高估了；
COS下降17% 1.COS与销售不成同向变化，可能使用了廉价采购，
来年质量有隐患；
2.可能采购成本低估了；
管理费用下降6% 1.管理费用应该与销售同向变化。可能费用被低估
了；
2.或者管理人员数量减少；
销售和分配费用增加42% 1.涨幅超过销售，不正常。可能费用归类错误
沙鼠
mis‐location。这也同时解释了管理费用过低。
应付利息小幅降低 1.文中数据表明银行账户有余额，可以偿付借款来降
低利息。可能原因：贷款不能提早还。
投资收入‐任何之前财报没有的新项目都是unusual，都要讨论 1.数据比较高，数据本身可能存在错误；
2.也可能把其他利润归到投资收入
15．S ource of information 选择题‐知道：
信息渠道 期望从中得到的信息
Prior year audit file 去年发现的问题，如何解决，哪些今年需要注意
Prior year financial statements 公司的规模、关键的会计政策
Permanent audit file 永久性审计底稿，也成P file，诸如营业执照等，第一次要
后备档，以后就不再索要了；（其他有些每年更新的法律登
记文件，则每年都需索要最新版本）
Discussion with management 年中发生的，涉及改变公司运营或有较大影响的 Company website 网页公开的刊物，了解公司背景和发展现状，是否有新的审
计风险出现2017会计初级成绩查询
电汇英文
Financial statements of competitors 属于参照物，需要他的会计政策和财务数据，来评估待查对象的表现，判断公司的持续经营能力。
16．P urpos of audit planning 理解‐背诵：
核心思想：Reduce the risk of giving an inappropriate audit opinion
✓Helping the auditor to devote appropriate attention to important areas of the audit.
✓Helping the auditor to identify and resolve potential problems on a timely basis.
fishandchips
✓Helping the auditor to properly organize and manage the audit engagement so that it is performed in an effective and efficient manner.
✓Assisting in the lection of engagement team members with appropriate levels of capabilities and competence to respond to anticipated risks and the proper assignment of work to them.
✓Facilitating the direction and supervision of engagement team members and the review of their work.
✓Assisting, where applicable, in coordination of work down by experts.
17．C omputer control 选择题‐知道：包括GC和AC区别，AC举4个例子等。
General control 包含很多应用，是信息系统的基础。确保每个具体应用的有效性，确保整个信息系统持续、恰当的运作。 1)Development of computer applications开发电脑应用：
系统设计、程序和文件的标准；权责分离‐设计和测试，不同人；在引入新程序时，培训员工，并有适当的指导文件
2)Prevention or detection of unauthorid changes to programs：
预防或阻止未被授权的系统修改，如系统修改记录、密码保护限制非法入侵、中央服务器的限制登录、病毒检查、系统程序备份、离开电脑文件备份、电脑进入屏保，重新登录要输密码、权限等级划分、更改权利授权 3)Controls to prevent unauthorid amendments to data files
防止未授权的数据修改，如设置修改口令、指定用户可改
4)Controls to ensure continuity of operation
确保持续运作，如防火防爆、备份电源、系统崩溃后数据恢复、维护协议
Application control
确保所有交易是被授权和记录的，交易是完整和正确的，且1)Controls over input: completeness完整性
Control total（包括batch control）确保交易输入的总额和分项加总一致；Document counts十张发票对应10个发票号；
One‐for‐one checking每输入一个数值，跟原始数据核对下
2)Controls over input: accuracy准确性
Reasonableness test合理性（销售税/销售额=税率，符合税法）
