Documente Academic
Documente Profesional
Documente Cultură
Modern Auditing:
Auditing:
Assurance
Assurance Services
Services and
and the
the Integrity
Integrity
of
of Financial Reporting, 8th Edition
Financial Reporting, 8 th
Edition
William C. Boynton
California Polytechnic State
University at San Luis Obispo
Raymond N. Johnson
Portland State University
• Competence Issues
• Independence Issues
Preparing
Preparing the
the Engagement
Engagement Letter
Letter
• Clear identification of entity and
financial statements to be audited
A. Inquiries of management
Study
Study Break
Break
2. Outside specialists include all of
the following except:
A. Appraisers
B. Internal auditors
C. Actuaries
D. Attorneys
B. Internal auditors
Risk
Risk Assessment
Assessment Procedures
Procedures
Understanding
Understanding the
the Entity
Entity and
and Its
Its
Environment
Environment
Industry,
Industry, Regulatory,
Regulatory, and
and Other
Other
External
External Factors
Factors
• Industry Conditions
• Regulatory Environment
• Investing Activities
• Financing Activities
• Financial Reporting
Entity’s
Entity’s Objectives,
Objectives, Strategies,
Strategies,
and
and Related
Related Business
Business Risks
Risks
• Entity’s Objectives
• Entity’s Strategies
• Business Risks
• Performance Indicators
• Industry Trends
D. Financial Reporting
Study
Study Break
Break
4. ______ are the operational
approaches by which management
intends to achieve its objectives.
A. Entity’s objectives
B. Entity’s strategies
C. Business risks
D. Financing activities
B. Entity’s strategies