tailieunhanh - Lecture Auditing and assurance services (International edition) - Chapter 1: An introduction to assurance and financial statement auditing

After reading the material in this chapter, you should be able to: understand why studying auditing can be valuable to you and why it is different from studying accounting, be able to explain why there is a demand for auditing and assurance, know the basic definition of a financial statement audit. | Chapter One An Introduction to Assurance and Financial Statement Auditing The Demand for Auditing and Assurance The development of the corporate form of business and the expanding world economy over the last 200 years have given rise to an explosion in the demand for assurance provided by auditors. Principals and Agents Managers Stockholders Agents Principals A public company is a company that sells its stocks or bonds to the public, giving the public a valid interest in the proper use, or stewardship, over the company’s resources. The Role of Auditing Auditing and Assurance Defined Auditing Assurance Services A systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating the results to interested users. Auditing and Assurance Defined Auditing Assurance Services An engagement in which practitioner expresses a conclusion designed to enhance the degree of confidence of the intended users other than the responsible party about the outcome of the evaluation or measurement of a subject matter against criteria. Fundamental Concepts in Conducting a Financial Statement Audit Audit Risk Audit risk is the risk that the auditor express an inappropriate audit opinion when the financial statements are materially misstated. The auditor’s standard report states that the audit provides only reasonable assurance that the financial statements do not contain material misstatements. Reasonable assurance implies some risk that a material misstatement could be present in the financial statements and the auditor will fail to detect it. Materiality (IASB) Omissions or misstatements of items are material if they could, individually or collectively, influence the economic decisions of users taken on the basis of the financial statements. Materiality depends on the size and nature of the omission or misstatement judged in | Chapter One An Introduction to Assurance and Financial Statement Auditing The Demand for Auditing and Assurance The development of the corporate form of business and the expanding world economy over the last 200 years have given rise to an explosion in the demand for assurance provided by auditors. Principals and Agents Managers Stockholders Agents Principals A public company is a company that sells its stocks or bonds to the public, giving the public a valid interest in the proper use, or stewardship, over the company’s resources. The Role of Auditing Auditing and Assurance Defined Auditing Assurance Services A systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating the results to interested users. Auditing and Assurance Defined Auditing Assurance Services An engagement in which practitioner expresses a .

• Kế toán - Kiểm toán
• Auditing services
• Auditing business processes
• Financial statement auditing
• Audit planning
• Internal control
• Auditing business processes
• Assurance services
• Auditing internal control
• Internal auditing services
• Internal auditing
• Auditing the purchasing process
• Auditing the financing
• Auditing demands logic
• Financial statement auditing environment
• Auditing environment
• Related services