战略系统审计资料(英文版).pptxVIP

ACCEPTANCE/CONTINUANCE ASSESSMENTMarket OverviewStrategyValue Creating ActivitiesFinancial PerformanceSUBSTANTIVE AUDIT EVIDENCESIGNIFICANTCONTROLSCOMFORTNO/LIMITEDCONTROLSCOMFORTMAINLY SUBSTANTIVEANALYTICAL PROCEDURESMAINLY TESTSOF DETAILSOTHER AUDIT PROCEDURES FINANCIAL STATEMENTSCOMPLETIONAudit Comfort Cycle 4 Key QuestionsWhat does management need to get comfort on?How does management get comfort?Are they entitled to that comfort?Can we audit that comfort?Scoping: Forming a Point of View Perform company and industry analytical procedures Research and analyze external communicationsPartners connect with staff membersDocument the team’s understanding of the businessKnowledge broker to capture and share industry information Form a point of view on the risks that management should be concerned aboutScoping: Business Analysis FrameworkStrategic AnalysisUnderstand the client’s strategic advantage Risk AssessmentUnderstand the risks that threaten attainment of the client’s business objectives“The primary goal of management control is to ensure that risk monitoring and control activities are aligned properly with overall strategic objectives” p. 35Strategic risksProcess risksBusiness Risks Key RiskWe identify audit risk through understanding the entity’s business objectives and related risks. Key Risk Key Risk Key Risk Key RiskAudit Risks Scoping:Risk Assessment – Key RisksKey risks are those conditions or factors within an audit that, in the judgment of the auditor, give rise to a greater risk of material financial misstatement or other matters resulting in the issuance of an inappropriate audit report. Scoping: Analytical Procedures High LevelUnderstand the businessIdentify areas of risk Disaggregated Account LevelDetermine the nature, timing extent of testing External benchmarking to peers, market trendsLooking for anomalies, areas of risk Use of extensive knowledge management tools availableBusiness Process AnalysisUnderstand the key proce