substantive procedures

ACCA F8的重点内容之一，值得收藏。

substantive procedures

• completeness
  • Reconcile the XXX(某个科目) register/sheet with the opening position
  • Obtain the list/schedule of the XXX(某个科目), cast the balance and trace to trail balance and financial statements
  • Obtain the list/schedule of the XXX(某个科目), recalculate it and agree the total to the general ledger and financial statement
  • Obtain the list/schedule of the XXX(某个科目), compare it with prior year to investigate if there are material exceptions.
  • Cast the list/schedule of XXX(某项操作，如purchase、disposal等), agree the detail to the XXX(某个科目) register/sheet
  • For the sample of XXX(某个科目) physically exist(inventory是physically count), trace them to the XXX(某个科目) register/sheet
  • Trace the sample of shipping documentation(GDN/GRN/sales order/purchase order) to supporting documents(invoices/board minutes/contracts/ledger/note/cash book)
  • For inventory held by third parties, send confirmation to verify the inventory balance at year end
• existence
  • Confirm whether XXX(某个科目) inspected are sequentially pre-numbered
  • Select the sample of XXX(某个科目) recorded in its register/ sheet, physically verify them via site visits
  • Select the sample of year-end XXX(某个科目) balance and trace to supporting documents(invoices/board minutes/contracts/ledger/note/cash book)
  • Select the sample of customer/supplier/bank and send confirmation to them to verify the receivable/payable/bank balance at the year-end
• cut-off
  • Select a sample of GDNs/GRNs around the year-end and trace to year-end XXX(某个科目) balance
• classification
  • Review the list/schedule of XXX(某个科目) to confirm if the nature of XXX(常见的是capital expenditure和expense之间分类错误) is recorded correctly
  • Review financial statement to investigate whether XXX(某个科目) is correctly classified as XXX(报表中的某一项，如current asset)
• rights and obiligations
  • Verify the ownership of XXX(某个科目) via inspection of supporting documents(invoices/board minutes/contracts/ledger/note/cash book) for evidence of ownership
  • Obtain a certificate of XXX(某个科目) from bankers, stating that they are free from mortgage
  • Inspect the board minutes for anthorisation/ approval/ consent of the XXX(某项操作)
• valuation
  • Calculate XXX(与某个科目相关的ratio) for the current year and compare this to prior year to investigate any sinificant fluctuations
  • Note down last year's XXX(某个科目) for any indicator of impairment
  • Select the sample of year-end XXX(某个科目) balance, recalculate it and trace to relevant notes(breakdown/ register/ schedule/ sheet/GDN/GRN) post year-end
  • Select the sample of XXX(某项操作) and agree cost to supporting documents(invoices/board minutes/contracts/ledger/note/cash book)
  • Trace XXX(reversal/unpresented cheques) to supporting documents(invoices/board minutes/contracts/ledger/note/cash book) to investigate unusual amounts
  • Review the reasonableness for XXX(某项操作) by comparison to prior year and industry practices
  • Review aged XXX(适用于inventory/receivable/payable) reports to identify any slow-moving items
  • Agree the revalued amounts to the valuation statement provided by the valuer
  • Evaluate the competence, capability and independence of the valuer by reviewing the qualification, independence and related experience
• accuracy
  • Recalculate the XXX(某个科目) according to relevant standards, and agree to the XXX(某个科目) ledger/confirmation letter/financial statement
  • Agree the amounts paid per director to board minutes to ensure the sums included are genuine
• occurrence
  • Select the sample of XXX(某项操作) and agree the proceeds to supporting documents(invoices/board minutes/contracts/ledger/note/cash book)
  • Trace the notes of XXX(某项操作) to the cash book and cash statements.
• presentation
  • Complete the disclosure checklist to ensure that all the disclousres relevant to XXX(某个科目) have been made
  • Review the disclosures relating to the XXX to ensure they comply with XXX(某个科目的准则/local legislation)