tailieunhanh - Lecture Auditing and assurance services in Australia (4th ed): Chapter 16 - Grant Gay, Roger Simnett

Chapter 16 - Other assurance services and advanced topics. In this chapter we will discuss: explain the different levels of government in Australia and their main responsibilities; explain the concept of accountability; outline the different bases of accounting used in the public sector; explain public sector audit requirements; describe the nature of performance auditing; and describe the nature of regularity audits. | Chapter 16 Other assurance services and advanced topics Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett 16- Learning objective 1: The current framework for assurance services Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett 16- A review of levels of assurance Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett 16- Form of engagement for all subject matter (historical financial information) Level of assurance for all subject matter (historical financial information) Expression of opinion Reasonable assurance (audit) Reasonable (high) Positive Limited assurance (review) Limited (moderate) Negative Agreed-upon procedures Nil Report of factual findings Learning objective 2: Special-purpose audit engagements There are a number of assurance services that have developed in practice which relate to financial information other than general-purpose financial reports. These are: Special-purpose financial reports (ASA/ISA 800) Components of financial reports (ASA/ISA 805) Summarised financial reports (ASA/ISA 810). Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett 16- Learning objective 3: Limited assurance (review) engagements A limited assurance engagement: Is used when limited (moderate) rather than reasonable (high) assurance is deemed appropriate. Involves a reduced set of evidence gathering procedures compared with a reasonable assurance engagement, and is therefore lower cost. Report provides negative conclusion (nothing has come to my attention that financial statements are not . | Chapter 16 Other assurance services and advanced topics Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett 16- Learning objective 1: The current framework for assurance services Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett 16- A review of levels of assurance Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett 16- Form of engagement for all subject matter (historical financial information) Level of assurance for all subject matter (historical financial information) Expression of opinion Reasonable assurance (audit) Reasonable (high) Positive Limited assurance (review) Limited (moderate) Negative Agreed-upon procedures