如何成为合格的审计咨询师11.pptVIP

Tests of Controls and Substantive Testsof Transactions for Cash Receipts Determine whether cash received was recorded Prepare proof of cash receipts Test to discover lapping of accounts receivable Learning Objective 7 Apply the methodology for controls over the sales and collection cycle to write-offs of uncollectible accounts receivable. Audit Tests forUncollectible Accounts Existence of recorded write-offs is the most important transaction-related audit objective. What is a major concern in testing accounts charged off as uncollectible? – covering up a defalcation by charging off accounts receivable that have been collected Additional Internal ControlsOver Account Balances Realizable value Rights and obligations Presentation and disclosure Effect of Results of Controls andSubstantive Tests of Transactions The parts of the audit most affected by the tests for the sales and collection cycle are: Accounts receivable Cash Bad debt expense Allowance for doubtful accounts Role of all Audit Tests in theSales and Collection Cycle Sales transactions Cash receipts transactions Ending balance Ending balance TOC + STOT + AP + TDP = Sufficient competent evidence per GAAS Audited by TOC, STOT, and AP Audited by AP and TDP Audited by TOC, STOT, and AP Sales Accounts Receivable Cash in Bank End of Chapter 11 知识回顾Knowledge Review * 11 - * ?2003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/Beasley 11 - * ?2003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/Beasley 11 - * ?2003 Prentice Hall Business Publishing, Essentials of Auditing 1/e, Arens/Elder/Beasley Audit of the Sales andCollection Cycle Chapter 11 Learning Objective 1 Identify the accounts and the classes of transactions in the sales and collection cycle. Accounts in the Salesand Collection Cycle Sales Cash sales Sales on account Cash in Bank Cash Discounts Taken Sales Returns and Allowances Bad Debt Expense Accounts Receivable Beginning Cas