澳洲注册会计师考试要点总结-审计CPA-AAA-2.docx

第2章 General audit principles and auditor’s responsibilities 11/100 ISA apply to audits of all sizes and complexity. SME must comply with all relevant ISAs, not all ISAs may be relevant to an SME(中小企业) Overall objectivities of auditor: (2.6) To obtain reasonable assurance… to express an opinion… To report on financial statements and communicated… Inherent risk at the assertion level can be mitigated by appropriate internal controls. The less the risk of material misstatement, the greater the detection risk that can be accepted. For a given level of detection risk, higher inherent and control risks, greater the audit risk. For a given level of audit risk, the acceptable level of detection risk bears an inverse relationship to the assessed risks of material misstatement at the assertion level. Example can increase control risk: Poor attitude of management towards controls; Limited segregation of duties; Staff not taking regular leave; Decrease in the size of the internal audit group Example can increase inherent risk: (2.9) Terms of audit engagement: 2 precondition of audit: acceptable financial reporting framework; acknowledgement from management on its responsibility for preparation of financial statement, internal control system, providing necessary access and information. Without these 2 preconditions, audit cannot accept the engagement unless required by law. New engagement letters if: Indication of misunderstands objective and scope of audit; Revised terms; Recent change of senior management or charged with governance; Significant change in ownership, nature or size of entity’s business; Change in legal or regulatory requirements Change in the financial reporting framework 3 reasons to Change engagement to lower level of assurance: Change the need for a service; misunderstanding of the nature of the audit; Restriction on the scope of the engagement Independence： maximum hours test (2.15) 审计期间Non-audit service 最多10小时。审计期间前12个月可再多10小时 Non-audit