审计学：一种整合方法(英文版)-第14版-参考答案AEB14-SM-CH01-v1

1-1Chapter1TheDemandforAuditandOtherAssuranceServicesReviewQuestions1-1Therelationshipamongauditservices,attestationservices,andassuranceservicesisreflectedinFigure1-3onpage12ofthetext.Anassuranceserviceisanindependentprofessionalservicetoimprovethequalityofinformationfordecisionmakers.AnattestationserviceisaformofassuranceserviceinwhichtheCPAfirmissuesareportaboutthereliabilityofanassertionthatistheresponsibilityofanotherparty.Auditservicesareaformofattestationserviceinwhichtheauditorexpressesawrittenconclusionaboutthedegreeofcorrespondencebetweeninformationandestablishedcriteria.Themostcommonformofauditserviceisanauditofhistoricalfinancialstatements,inwhichtheauditorexpressesaconclusionastowhetherthefinancialstatementsarepresentedinaccordancewithanapplicablefinancialreportingframeworksuchasU.S.GAAPorIFRS.Anexampleofanattestationserviceisareportontheeffectivenessofanentity’sinternalcontroloverfinancialreporting.Therearemanypossibleformsofassuranceservices,includingservicesrelatedtobusinessperformancemeasurement,healthcareperformance,andinformationsystemreliability.1-2Anindependentauditisameansofsatisfyingtheneedforreliableinformationonthepartofdecisionmakers.Factorsofacomplexsocietywhichcontributetothisneedare:1.Remotenessofinformationa.Owners(stockholders)divorcedfrommanagementb.Directorsnotinvolvedinday-to-dayoperationsordecisionsc.Dispersionofthebusinessamongnumerousgeographiclocationsandcomplexcorporatestructures2.Biasesandmotivesofprovidera.Informationwillbebiasedinfavoroftheproviderwhenhisorhergoalsareinconsistentwiththedecisionmaker'sgoals.3.Voluminousdataa.Possiblymillionsoftransactionsprocesseddailyviasophisticatedcomputerizedsystemsb.Multipleproductlinesc.Multipletransactionlocations4.Complexexchangetransactionsa.Newandchangingbusinessrelationshipsleadtoinnovativeaccountingandreportingproblemsb.Potentialimpactoftransactionsnotquantifiable,leadingtoincreaseddisclosures1-21-31.Risk-freeinterestrateThisisapproximatelytheratethebankcouldearnbyinvestinginU.S.treasurynotesforthesamelengthoftimeasthebusinessloan.2.BusinessriskforthecustomerThisriskreflectsthepossibilitythatthebusinesswillnotbeabletorepayitsloanbecauseofeconomicorbusinessconditionssuchasarecession,poormanagementdecisions,orunexpectedcompetitionintheindustry.3.InformationriskThisriskreflectsthepossibilitythattheinformationuponwhichthebusinessriskdecisionwasmadewasinaccurate.Alikelycauseoftheinformationriskisthepossibilityofinaccuratefinancialstatements.Auditinghasnoeffectoneithertherisk-freeinterestrateorbusinessrisk.However,auditingcansignificantlyreduceinformationrisk.1-4Thefourprimarycausesofinformationriskareremotenessofinformation,biasesandmotivesoftheprovider,voluminousdata,andtheexistenceofcomplexexchangetransactions.Thethreemainwaystoreduceinformationriskare:1.Userverifiestheinformation.2.Usersharestheinformationriskwithmanagement.3.Auditedfinancialstatementsareprovided.Theadvantagesanddisadvantagesofeachareasfollows:ADVANTAGESDISADVANTAGESUSERVERIFIESINFORMATION1.Userobtainsinformationdesired.2.Usercanbemoreconfidentofthequalificationsandactivitiesofthepersongettingtheinformation.1.Highcostofobtaininginformation.2.Inconveniencetothepersonprovidingtheinformationbecauselargenumberofuserswouldbeonpremises.USERSHARESINFORMATIONRISKWITHMANAGEMENT1.Noauditcostsincurred.1.Usermaynotbeabletocollectonlosses.AUDITEDFINANCIALSTATEMENTSAREPROVIDED1.Multipleusersobtaintheinformation.2.Informationriskcanusuallybereducedsufficientlytosatisfyusersatreasonablecost.3.Minimalinconveniencetomanagementbyhavingonlyoneauditor.1.Maynotmeetneedsofcertainusers.2.Costmaybehigherthanthebenefitsinsomesituations,suchasforasmallcompany.1-31-5Todoanaudit,theremustbeinformationinaverifiableformandsomestandards(criteria)bywhichtheauditorcanevaluatetheinformation.ExamplesofestablishedcriteriaincludegenerallyacceptedaccountingprinciplesandtheInternalRevenueCode.Determiningthedegreeofcorrespondencebetweeninformationandestablishedcriteriaisdeterminingwhetheragivensetofinformationisinaccordancewiththeestablishedcriteria.TheinformationforJonesCompany'staxreturnisthefederaltaxreturnsfiledbythecompany.TheestablishedcriteriaarefoundintheInternalRevenueCodeandallinterpretations.FortheauditofJonesCompany'sfinancialstatementstheinformationisthefinancialstatementsbeingauditedandtheestablishedcriteriaaregenerallyacceptedaccountingprinciples.1-6TheprimaryevidencetheinternalrevenueagentwilluseintheauditoftheJonesCompany'staxreturnincludeallavailabledocumentationandotherinformationavailableinJones’officeorfromothersources.Forexample,whentheinternalrevenueagentauditstaxableincome,amajorsourceofinformationwillbebankstatements,thecashreceiptsjournalanddepositslips.Theinternalrevenueagentislikelytoemphasizeunrecordedreceiptsandrevenues.Forexpenses,majorsourcesofevidencearelikelytobecancelledchecksandelectronicfundstransfers,vendors'invoices,andothersupportingdocumentation.1-7Thisapparentparadoxarisesfromthedistinctionbetweenthefunctionofauditingandthefunctionofaccounting.Theaccounti