如何成为合格审计咨询师02 .ppt

Substantial Doubtabout Going Concern 1. Significant recurring operating losses or working capital deficiencies 2. Inability of the company to pay its obligations as they come due 3. Loss of major customers, the occurrence of uninsured catastrophes 4. Legal proceedings, legislation, that might jeopardize the entity’s ability to operate Auditor Agrees with a Departurefrom a Promulgated Principle The auditor must be satisfied and must state and explain, in a separate paragraph or paragraphs in the audit report, that adhering to the principle would have produced a misleading result in that situation. Emphasis on a Matter Under certain circumstances, the CPA may want to emphasize specific matters regarding the financial statements, even though the CPA intends to express an unqualified opinion. Reports InvolvingOther Auditors 1. Make no reference in the audit report. 3. Qualify the opinion. 2. Make reference in the report (modified wording report). Learning Objective 4 Identify the types of audit reports that can be issued when an unqualified opinion is not justified. Departures from anUnqualified Opinion 1. Scope limitation 2. GAAP departure 3. Auditor not independent Qualified Opinion A qualified opinion report can result from a limitation on the scope of the audit or failure to follow generally accepted accounting principles. Adverse Opinion It is used only when the auditor believes that the overall financial statements are so materially misstated or misleading that they do not present fairly the financial position or results of operations and cash flows in conformity with GAAP. Disclaimer of Opinion It is issued when the auditor is unable to be satisfied that the overall financial statements are fairly presented. Learning Objective 5 Explain how materiality affects audit reporting decisions. Materiality A misstatement in the financial statements can be considered material if knowledge of the misstatement would affect a decision of a reasonable user of the