审计知识梳理

审计是指由专设机关依照法律对国家各级政府及金融机构、企业事业组织的重大项目和财务收支进行事前和事后的审查的独立性经济监督活动。下图介绍了审计的相关内容，赶快收藏下图学习吧！

Concept of Audit

• Definition of audit
  • Concept of audit
    • External audits provide assurance to assurance to shareholders that the financial statements are prepared ,in all material respects,in accordance with an applicable finanical reporting framework.
    • The ultimate aim of the audit progress is for the auditors to be in the position to express their opinion to the shareholders as to whether the financial statements have been prepared,in all material respects,in accordance with the applicable finanical reporting framework.
      • Opinion
        • In our opinion,the financial statements present fairly,in all material respects,(or give a true and fair view of) the finanical position of ABC Company as at 31 December 20X1,and of its finanical performance and its cash flows for the year then ended in accordance with International Finanical Reporting Standards.
  • Materiality
    • Information is material if its omission or misstatement could influence the economic decisions of users taken on the basis of the financial statements.
    • Both the amount(quantity) and nature(quality) of misstatements need to be considered.e.g. lack of disclosure regarding ongoing litigation is likely to be considered material.
      • The calculation of materiality(e.g): between 5 and 10% of profit before tax.
  • Reasonable assurance
    • No auditor can give 100%(absolute assurance).The highest level of assurance given,as in the case of statutory audit,is described as 'reasonable assurance'.
    • 'Reasonable assurance' is not absolute assurance because there are inherent limitations of an audit which result in the auditor forming an opinion on evidence that is persuasive rather than conclusive.
      • Limitations of the audit,e.g.:
        • Audit is not objective.Judgement has to be made.Not all items in the financial statement are tested.
• Assurance engagement
  • Definition
    • 'An assurance engagement is an engagement in which a 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 subjrct matter against criteria.
    • Examples
      • A review of the effectiveness of an entity's internal control or computer systems.
      • A review of an entity's half year results.
  • Levels of assurance
    • External audit
      • Reasonable assurance --Positive expression
        • In our opinion,the financial statements present fairly,in all material respects,in accordance with International Financial Reporting Standards.
        • In a reasonable assurance engagement the practitioner will conclude whether the subject matter conforms in all material respects with identified suitable criteria.在合理的鉴证业务中，从业者将得出结论，鉴证业务是否在所有重大方面都符合确定的合适标准
    • Review
      • Limited assurance--Negative expression
        • Based on our work described in this report,nothing has come to our attention that causes us to believe that financial statement do not present fairly,in all material respects,in accordance with International Financial Reporting Standards.
        • In a limited assurance engagement the practitioner will conclude whether the subject matter, will respect to identified suitable criteria,is plausible in the circumstances.在有限的鉴证业务中，从业人员将确定鉴证对象是否符合已确定的合适标准。