AuditoftheAcquisitionandPaymentCycle(英文版)(ppt36页)课件.pptVIP

Audit of the Acquisitionand Payment Cycle Chapter 18 Transactions in the Acquisition and Payment Cycle Accounts in the Acquisitionand Payment Cycle Accounts in the Acquisitionand Payment Cycle Classes of Transactionsand Accounts Classes of Transactionsand Accounts Business Functionsin the Cycle Related Documentsand Reports Related Documentsand Reports Related Documentsand Reports How E-Commerce Affects the Acquisition and Payment Cycle How E-Commerce Affects the Acquisition and Payment Cycle Methodology for Designing Tests ofControls – Acquisitions and Disbursements Methodology for Designing Tests ofBalances – Accounts Receivable Understand Internal Control Assess Planned Control Risk Evaluate Cost-Benefit of Testing Controls Segregation of Duties Authorization purchasing, receiving, and cash disbursements Custody of plant assets, cash and inventory Recordkeeping for purchases and payments Reconciliation of assets Control Activities Purchase requisitions/orders are authorized Restricted access to assets - inventory, plant, check book Setup accounts payable only when required documents are present and checked to PO Record payable when goods or services received Record payment when check is sent Controls and Substantive Tests ofTransactions for Acquisitions Controls and Substantive Tests ofTransactions for Cash Disbursements Methodology for Designing Testsof Details of Balances for A/P Methodology for Designing Testsof Details of Balances for A/P Methodology for Designing Testsof Details of Balances for A/P Analytical Procedures for the Acquisition and Payment Cycle Analytical Procedures for the Acquisition and Payment Cycle Out-of-Period Liability Tests Out-of-Period Liability Tests Cutoff Tests Inventory Considerations If not at year end – roll count to year end Cycle inventory – sample from cycles Auditor not present for count Inventory affects on F/S pervasive Reliability of Evidence Special Audit Considerations Emphasis on completeness, unrecor