1、2022年10月29日星期六战略系统审计战略系统审计Scoping:Forming a Point of View Perform company and industry analytical procedures Research and analyze external communications Partners connect with staff members Document the teams understanding of the business Knowledge broker to capture and share industry information Fo
2、rm a point of view on the risks that management should be concerned aboutScoping:Business Analysis FrameworkStrategic Analysis Understand the clients strategic advantage Risk Assessment Understand the risks that threaten attainment of the clients business objectives“The primary goal of management co
3、ntrol is to ensure that risk monitoring and control activities are aligned properly with overall strategic objectives”p.35 Strategic risks Process risksScoping:Risk Assessment Key Risks Key RiskWe identify audit risk through understanding the entitys business objectives and related risks.Business Ri
4、sksAudit Risks Key Risk Key Risk Key Risk Key RiskKey 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:Analytica
5、l Procedures High Level Understand the business Identify areas of risk Disaggregated Account Level Determine the nature,timing&extent of testing External benchmarking to peers,market trends Looking for anomalies,areas of risk Use of extensive knowledge management tools availableBusiness Process Anal
6、ysis Understand the key processes and related competencies needed to realize strategic advantage Process driven competition Measure and benchmark process performance Document understanding of the clients ability to create value and generate future cash flows using a client business model,process ana
7、lyses,key performance indicators,and a business risk profileBusinessRisks related to achieving ObjectivesBusiness Process A Completeness Accuracy Validity Restricted AccessBusiness Process B Completeness Accuracy Validity Restricted Access Business Process C Completeness Accuracy Validity Restricted
8、 AccessAccount Balances and TransactionsAccount Balances and TransactionsGeneral Computer ControlsAccount Balances and TransactionsConnecting the Dots Business ObjectivesFinancial Statement Assertions/Audit ObjectivesClasses of Transactions Occurrence Completeness Accuracy Cutoff ClassificationAccou
9、nt Balances Rights&Obligations Existence Completeness Accuracy/ValuationPresentation&Disclosure Occurrence/R&O Completeness Understandability Accuracy/ValuationAssess implications for business and audit Is risk identification complete?Are they prioritized properly?Are there controls to minimize risk
10、s to acceptable level?Do accounting choices and disclosures adequately reflect uncontrolled risks?Groups residual business risk by financial statement assertionScoping Translated into Audit StrategyWhere controls over significant account balances or classes of transaction are not aligned,we will nee
11、d to perform substantive tests of details.StakeholdersRisksControlsAlignmentBusiness ObjectivesBusiness MeasurementUse the comprehensive business knowledge decision frame to develop expectations about key assertions embodied in the overall financial statementsCompare reported financial result to exp
12、ectations and design additional audit test work to address any gaps between expectations and reported resultsTransaction based auditing procedures are applied to non-routine transactions and non-routine and highly judgmental accounting estimates(p.36).Computer audit techniques filter routine transac
13、tions for unusual itemsAdditional test work is performed when interrelated financial and Nonfinancial performance measures are inconsistent and when key financial-statement assertions are not consistent with the auditors understanding of the organizations strategic-systems dynamicQuality of earnings
14、 are assessedProcess performance evaluated onCycle timeProcess qualityProcess costScoping:Audit Team of SpecialistsOur best teams use our specialist capabilities to help in forming a point of view.StakeholdersBusiness ObjectivesFinancial RiskBusiness ProcessEnterprise-wide RiskSystems&TechnologyEner
15、gy Trading RiskBusiness ResilienceProject ManagementInternal Audit Security Data RiskRegulatory/CompliancePerformance ImprovementTreasuryRisksControlsAlignmentComputer-Assisted Audit TechniquesFraudAudit Comfort Cycle4 Key Questions What does management need to get comfort on?Market OverviewStrategy
16、Value Creating ActivitiesFinancial PerformanceOTHER AUDIT PROCEDURES FINANCIAL STATEMENTSCOMPLETIONACCEPTANCE/CONTINUANCE ASSESSMENTSUBSTANTIVE AUDIT EVIDENCEMAINLY SUBSTANTIVEANALYTICAL PROCEDURESSIGNIFICANTCONTROLSCOMFORTNO/LIMITEDCONTROLSCOMFORTMAINLY TESTSOF DETAILS How does management get comfo
17、rt?Are they entitled to that comfort?Can we audit that comfort?“Taking Stock”:Real-Time Linkage in the Iterative ProcessShare team members cumulative knowledgeUpdate risk identification and assessmentConsider the audit comfort gained to date,by audit assertionAnswer:“Do we have enough comfort?”Answe
18、r:“What do we do next?”Substantive Audit EvidenceMarket OverviewStrategyValue Creating ActivitiesFinancial PerformanceOTHER AUDIT PROCEDURES FINANCIAL STATEMENTSCOMPLETIONACCEPTANCE/CONTINUANCE ASSESSMENTSUBSTANTIVE AUDIT EVIDENCEMAINLY SUBSTANTIVEANALYTICAL PROCEDURESSIGNIFICANTCONTROLSCOMFORTNO/LI
19、MITEDCONTROLSCOMFORTMAINLY TESTSOF DETAILSAssurance HierarchyWill we obtain audit assurance from tests of controls?Test controls.No further testing required.Can we obtain audit assurance from substantive analytical procedures?Perform substantive analytical procedures.Perform tests of details.Do we n
20、eed additional audit assurance?No Yes No No Yes Yes Other Audit ProceduresMarket OverviewStrategyValue Creating ActivitiesFinancial PerformanceOTHER AUDIT PROCEDURES FINANCIAL STATEMENTSCOMPLETIONACCEPTANCE/CONTINUANCE ASSESSMENTSUBSTANTIVE AUDIT EVIDENCEMAINLY SUBSTANTIVEANALYTICAL PROCEDURESSIGNIF
21、ICANTCONTROLSCOMFORTNO/LIMITEDCONTROLSCOMFORTMAINLY TESTSOF DETAILSOther Audit Procedures:More Connecting the Dots Link to financial statements Review necessary to reconcile management information to the financial statements Review non-standard journal entries and other adjustments to ascertain whether entries may be based upon the risk of management override on controls Perform ongoing analytical procedures,including updating
