《审计学一种整合方法15版英文教辅资源arens15_irm__10.pdf》由会员分享，可在线阅读，更多相关《审计学一种整合方法15版英文教辅资源arens15_irm__10.pdf（17页珍藏版）》请在taowenge.com淘文阁网|工程机械CAD图纸|机械工程制图|CAD装配图下载|SolidWorks_CaTia_CAD_UG_PROE_设计图分享下载上搜索。
1、17-1 Chapter 17 Audit Sampling for Tests of Details of Balances The approach to covering audit sampling for tests of details of balances in Chapter 17 is similar to the approach for audit sampling for tests of controls and substantive tests of transactions in Chapter 15.Nonstatistical sampling is co
2、vered early in the chapter,followed by discussions of monetary unit sampling and variables sampling(statistical sampling methods).The section on monetary unit sampling has been substantially revised based on the 2012 AICPA Audit Sampling Audit Guide.We believe that the format of Chapter 17 will prov
3、ide you with maximum flexibility in deciding how you wish to approach the topic of audit sampling for tests of details of balances.The chapter is built around the fourteen steps of audit sampling,which were first introduced in Chapter 15.All fourteen steps apply to both non-statistical and statistic
4、al sampling.Each step is covered in detail during the discussion of nonstatistical sampling on pages 557 through 565.The discussions of monetary unit sampling(pages 566 through 573)and variables sampling(pages 573 through 582)use these same fourteen steps,but focus on the differences between how the
5、 steps are applied under these statistical methods compared to nonstatistical sampling.Before assigning Chapter 17,you must decide how you want to approach the topic of audit sampling for tests of details of balances.There are four possible approaches for covering Chapter 17:(1)Cover nonstatistical
6、sampling only(2)Cover nonstatistical sampling,followed by monetary unit sampling(3)Cover nonstatistical sampling,followed by variables sampling(4)Cover nonstatistical sampling,followed by both monetary unit sampling and variables sampling(this approach is not recommended unless you have extra time i
7、n your course schedule)Note that it is not feasible to cover either monetary unit sampling(MUS)or variables sampling without first covering nonstatistical sampling.This is because the MUS and variables sampling portions of the chapter revolve around the fourteen steps outlined during the nonstatisti
8、cal sampling discussion.The following are the primary topical areas that we suggest you cover:Chapter opening vignette Comparisons of audit sampling for tests of details of balances and for tests of controls and substantive tests of transactions Nonstatistical sampling Monetary unit sampling ignore
9、this section if using approach(1)or(3)discussed earlier Variables sampling ignore this section if using approach(1)or(2)discussed earlier Instructor Note:Statistical sampling is a highly complex subject to which justice cannot always be done in an introductory auditing course.There is certainly stro
10、ng justification for skipping the topic entirely in the introductory course.We recommend this be done when an advanced auditing course is included in the auditing curriculum.17-2 Chapter Opening Vignette “Both Statistical and Nonstatistical Sampling are Acceptable Under GAAS,But Whichever is Used,It
11、 Must be Done Right”The fundamental point of this vignette in one sense is that statistical sampling requires a greater level of expertise than nonstatistical sampling.However,non-statistical sampling also requires expertise.Ascertaining how much sampling error to attribute to a nonstatistical sampl
12、e is not an easy problem.In the vignette,an expert was brought in for part of the statistical task,but did not complete it.The staff auditor who completed the statistical evaluation made an error in the calculations.This case highlights the complexity of statistical calculations,and the need for the
13、 auditor to thoroughly understand the requirements of any audit task,regardless of time constraints.Since the auditor did not understand the statistical method,it is questionable whether a statistical evaluation should have been performed.However,the sample was selected based on the original audit p
14、lan,which called for a statistical evaluation.The vignette offers an opportunity to discuss the relative merits of statistical and nonstatistical sampling,and what requirements exist for both to“do it right.”Comparisons of Audit Sampling for Tests of Details of Balances and for Tests of Controls and
15、 Substantive Tests of Transactions(page 556)We introduce the topic of audit sampling for tests of details of balances using the summary of the audit process in Figure 13-9(page 423).We then point out to students that Chapter 17 deals with audit sampling for tests of details of balances.(See Figure 1
16、3-9)Next,we discuss the fact that audit sampling for tests of details of balances focuses on dollar misstatements in account balances.You should compare this to determining an exception rate for tests of controls and the rate of monetary misstatements for substantive tests of transactions(Chapter 15
17、).Review Questions 17-1 and 17-7 can be covered during this discussion.Nonstatistical Sampling(page 557)We suggest that you begin your discussion of nonstatistical sampling for tests of details of balances by referring back to the fourteen steps of audit sampling for tests of controls and substantiv
18、e tests of transactions,which were introduced in Chapter 15.You can then use OH-17-1 to show how these fourteen steps compare between audit sampling for tests of details of balances(Chapter 17)and for tests of controls and substantive tests of transactions(Chapter 15).(See OH-17-1;also shown on Slid
19、es 17-8 to 17-10)Next,we cover each of the fourteen steps in detail.The following comments,beyond what the book discusses,are useful.State the objectives of the audit test(page 557).The purpose of tests of details of balances is to determine whether the account balance being audited is fairly stated
20、.17-3 Decide whether audit sampling applies(page 557).No additional comments.Define a misstatement(page 557).Stress that any misstatement found in a sample is defined as a misstatement condition.Define the population(page 558).The population is defined as the recorded dollar population.During this d
21、iscussion,we usually introduce the concept of stratified sampling.The first table on OH-17-2 is a useful way to illustrate the concept of stratified sampling,using the example from page 558 and the accounts receivable population in Table 17-1(page 558).(See OH-17-2)(See Table 17-1)Define the samplin
22、g unit(page 559).No additional comments.Specify tolerable misstatement(page 559).We explain that tolerable misstatement is performance materiality applied to a sampling application,and refer students back to Chapter 9 for a discussion of performance materiality.Specify acceptable risk of incorrect a
23、cceptance(ARIA)(page 559).Compare ARIA to the acceptable risk of overreliance,which applies to audit sampling for tests of controls and substantive tests of transactions.You can also discuss how ARIA affects sample size and the resulting evidence accumulation.Figure 17-1(page 560)and Table 17-2(page
24、 560)are helpful here.Review Questions 17-10 and 17-11 also deal with ARIA.(See Figure 17-1)(See Table 17-2)Estimate misstatements in the population(page 561).No additional comments.Determine the initial sample size(page 561).Table 17-3(page 561)is a good summary of the factors that determine initia
25、l sample size.Problem 17-27 part a.can be used here.(See Table 17-3)Select the sample(page 562).We stress that any of the sampling methods discussed in Chapter 15 can be used for nonstatistical sampling.Problem 17-27 part c.is helpful during this discussion.Perform the audit procedures(page 562).The
26、 second table on OH-17-2 shows the results of performing the audit procedures for the example on page 562.(See OH-17-2)Generalize from the sample to the population(page 562).We refer students back to the discussion of a point estimate in Chapter 9.The third table on OH-17-2 illustrates the calculati
27、on of a point estimate for the example on page 563.(See OH-17-2)17-4 Review Question 17-3 can be used here.The mid-chapter vignette on page 564 provides a great example of the importance of properly projecting sample misstatements.Analyze the misstatements(page 563).We emphasize that auditors must e
28、valuate the cause of each misstatement to assess whether it indicates a need to revise risk assessments and evidence.Decide the acceptability of the population(page 562).We explain that for nonstatistical sampling,the auditor calculates the difference between the point estimate and tolerable misstat
29、ement(sampling error).This can be related back to the discussion in Chapter 15 of SER-TER,which also results in sampling error.We then discuss determining the sufficiency of sampling error in order to determine the acceptability of the population.Problem 17-27 part d.or Problem 17-28 is helpful here
30、.Case 17-35 part a.gives students practice in evaluating the results of a nonstatistical sample.Finally,we discuss the auditors options when a population is rejected(see page 564).Monetary Unit Sampling(page 566)Note:You should skip this section if you decide to use approach(1)or(3)discussed on page
31、 17-1.To provide continuity,the text discussion of monetary unit sampling(MUS)refers to the same fourteen steps discussed during the non-statistical sampling portion of the chapter.We focus on the differences between how these fourteen steps are applied for MUS compared to nonstatistical sampling.Fo
32、llowing are the most important differences that we suggest that you cover(see pages 566 through 573 for detailed discussion):The sampling unit is an individual dollar.The population size is the recorded dollar population.Sample size is determined by statistical formula.Sample selection is done using
33、 probability proportional to size(PPS).MUS techniques are used to generalize from the sample to the population.We suggest using OH-17-1 as a frame of reference for discussing how the fourteen steps are applied using MUS.(See OH-17-1)Next,we discuss the concept of monetary unit sampling and discuss i
34、ts advantages and disadvantages.We consider it optional to show how to select a sample for monetary unit sampling.Problem 17-29 is a good one to use for demonstrating how such a sample is selected.Evaluating a sample using monetary unit sampling can be demonstrated by using Problem 17-30.In doing so
35、,we go over the terminology from the Audit Sampling Audit guide.As a part of discussing this material it is essential to refer to Chapter 9,discussing both materiality and the different risks.(See OH-17-3 through OH-17-5)If you want to show how to calculate a sample size for monetary unit sampling,w
36、e recommend Review Question 17-14.17-5 Variables Sampling(page 573)Note:You should skip this section if you decide to use approach(1)or(2)discussed on page 17-1.We typically spend little time on this material.The remainder of the material in this chapter is intended for those who prefer to emphasize
37、 variables sampling in their study of audit sampling.If you plan to emphasize variables sampling,we suggest that you also cover the illustration using difference estimation(pages 579 through 582).Problem 17-33 provides students with practice in applying difference estimation.(See OH-17-6 to T-17-10)
38、CHAPTER 17 CROSS-REFERENCE OF LEARNING OBJECTIVES AND PROBLEM MATERIAL LEARNING OBJECTIVES REVIEW QUESTIONS MULTIPLE CHOICE QUESTIONS DISCUSSION QUESTIONS AND PROBLEMS ACL PROBLEM AND CASES 17-1 Differentiate audit sampling for tests of details of balances and for tests of controls and substantive t
39、ests of transactions.17-1,17-6,17-7 17-2 Apply nonstatistical sampling to tests of details of balances.17-2,17-3,17-4,17-6,17-7,17-10,17-12,17-17 17-24,17-25 17-27,17-28,17-32 17-35 17-3 Apply monetary unit sampling.17-5,17-6,17-8,17-9,17-13,17-14,17-15,17-16,17-20,17-23 17-25,17-26 17-29,17-30,17-3
40、1,17-32 17-34,17-35,17-36 17-4 Describe variables sampling.17-6,17-11,17-18,17-20,17-21,17-22,17-23 17-26 17-32 17-5 Use difference estimation in tests of details of balances.17-19 17-26 17-32,17-33 17-6 OH-17-1 AUDIT SAMPLING FOR AUDIT SAMPLING FOR TESTS OF CONTROLS TESTS OF DETAILS AND SUBSTANTIVE
41、 TESTS OF BALANCES OF TRANSACTIONS Plan the Sample 1.State the objectives of the audit test.2.Decide whether audit sampling applies.3.Define a misstatement.4.Define the population.5.Define the sampling unit.6.Specify tolerable misstatement.7.Specify acceptable risk of incorrect acceptance.8.Estimate
42、 misstatements in the population.9.Determine the initial sample size.Select the Sample and Perform the Audit Procedures 10.Select the sample.11.Perform the audit procedures.Evaluate the Results 12.Generalize from the sample to the population.13.Analyze the misstatements.14.Decide the acceptability o
43、f the population.Plan the Sample 1.State the objectives of the audit test.2.Decide whether audit sampling applies.3.Define attributes and exception conditions.4.Define the population.5.Define the sampling unit.6.Specify tolerable exception rate.7.Specify acceptable risk of overreliance.8.Estimate th
44、e population exception rate.9.Determine the initial sample size.Select the Sample and Perform the Audit Procedures 10.Select the sample.11.Perform the audit procedures.Evaluate the Results 12.Generalize from the sample to the population.13.Analyze the exceptions.14.Decide the acceptability of the po
45、pulation.OH-17-2 SAMPLING ILLUSTRATION Stratum Stratum Criteria No.in Population Dollars in Population 1 2 3$15,000$5,000$15,000$5,000 3 10 27 40$88,955 71,235 47,105$207,295 Dollars Audited Stratum Sample Size Recorded Value Audited Value Client Misstatement 1 2 3 3 9 7 16$88,955 43,995 13,105$146,
46、055$91,695 43,024 10,947$145,666$(2,740)971 2,158$389 Stratum Client Misstatement/Recorded Value of the Sample x Recorded Book Value for the Stratum=Point Estimate of Misstatement 1 2 3 Total$(2,740)/$88,955$971/$43,995$2,158/$13,105$88,955 71,235 47,105$(2,740)1,572 7,757$6,589 OH-17-3 PROBLEM 17-3
47、0 Summary of Overstatement Errors ITEM RECORDED VALUE AUDITED VALUE FACTUAL MISSTATE-MENT MISSTATE-MENT/RECORDED VALUE(TAINTING)1 3 4 6$2,728.00 3,890.00 815.00 3,215.00$2,498.00 1,190.00 785.00 3,190.00$230.00 2,700.00 30.00 25.00.084.694.037.008 Totals$10,648.00$7,663.00$2,985.00 OH-17-4 PROBLEM 1
48、7-30 Calculation of Upper Misstatement Bound (a)TAINTING(b)SAMPLING INTERVAL(c=a x b)PROJECTED MISSTATE-MENT(d)INCREMENTAL CHANGE IN CONFIDENCE FACTOR(e=c x d)PROJECTED MISSTATEMENT PLUS INCREMENTAL ALLOWANCE FOR SAMPLING RISK.694.084.037.008 19,750 19,750 19,750 19,750 13,707 1,659 731 158 1.58 1.4
49、4 1.36 1.31 21,657 2,389 994 207 Totals 16,255 25,247 Add basic precision 19,750 x 2.31 45,623 Upper misstatement bound 70,870 OH-17-5 PROBLEM 17-30 POPULATION IS NOT ACCEPTABLE Available Options:1.Increase the sample size 2.Segregate a specific type of misstatement and test it separately.The sample
50、 would then not include the specified type of misstatement since it is being tested separately.3.Adjust the account balance.4.Request the client to correct the population.5.Consider qualifying the opinion.6.Expand other areas in the audit of accounts receivable.OH-17-6 PROBLEM 17-33 Point Estimate =