T1 2020 BBC 5 MAA705 Discussion solutions.docx - Question 1 The auditor has determined that a company\u2019s goodwill is materially impaired as a result of

T1 2020 BBC 5 MAA705 Discussion solutions.docx - Question 1...

This preview shows page 1 - 3 out of 11 pages.

Question 1 The auditor has determined that a company’s goodwill is materially impaired as a result of the economic downturn. The company’s CEO disagrees with the auditor as the CEO argues economic conditions will improve in the future. The CEO has refused to impair the goodwill. No other problems were identified in the client’s financial statements. Advise the auditor on the type of audit report that should be issued. Justify your answer. 审计师确定,由于经济低迷,公司的商誉受到重大损害。该公司的首席执行官不同意审计师的观 点,因为首席执行官认为未来经济状况会好转。 首席执行官拒绝损害善意。客户的财务报表中未 发现其他问题。就应印发的审计报告类型向审计员提供咨询。证明你的答案是正确的。 Adverse – impact is material and pervasive 影响是 重大且普遍的 Question 2 You are the audit partner on the audit of Rose Ltd and are reviewing the audit workpapers for the year ended 30 June 2013. The team includes Alan and Robert. 您是 Rose Ltd 审计的 审计合作伙伴,并正在审查截至 2013 6 30 日的审计工作文件。团队包括艾伦和罗 伯特。 As part of the audit Alan, the audit senior tested the controls over the accounts payable system. He selected a sample of twenty payments and tested the control that all calculations are checked by the accounts payable clerk, who signs the “checked” box to indicate that she has carried out the control. All invoices had been signed as “checked”. While three invoices had calculation errors, they were less than $10 in total and not considered to be material. Alan has therefore determined that the internal control operated effectively and consistently throughout the year. 作为审计的一部分,审计人员对 应付账款系统的控制进行了测试。他选择了 20 个付款的样本,并测试了所有计算都由应付账款 员检查的控制,该职员在 " 选中 " 框上签名,以表明她已执行控制。所有发票都已签为 " 已检查 " 虽然三张发票的计算错误,但总额不到 10 美元,不被视为材料。因此, Alan 确定内部控制全 年有效且一致地运行。 The three major suppliers of Rose Ltd comprise over 70% of the accounts payable balance. Robert checked these three balances to reconciled creditor’s statements and found no discrepancies. As controls over the purchases and payment cycle are considered to be good, no further testing was done. Rose Ltd 的三大供应商占应付帐款余额的 70% 以上。 Robert
Image of page 1
查了这三个余额,以对债权人的报表进行核对, 没有发现任何差异。由于对购买和付款周期的控 制被认为是好的,因此没有进行进一步的测试。 Required: a) What impact (if any) will the calculation errors found during the tests of controls have on the audit plan related to the audit of accounts payable? Rose Ltd 的三大供应商占应付帐款余额的 70% 以上。 Robert 检查了这三个余额,以对债权人的 报表进行核对, 没有发现任何差异。由于对购买和付款周期的控制被认为是好的,因此没有进行 进一步的测试。 Auditor may increase the sample used for internal control testing to determine extent of deviations. Potentially a reduced reliance on controls and an increase in number of substantive tests. 审核员可能会增加用于内部控制测试的样本,以确定偏差程度。可能减少 对管制的依赖,增加实质性测试的数量。 b) Indicate whether Robert Dudley has obtained sufficient appropriate audit evidence for accounts payable. Provide reasons for your answer. 说明罗伯特 · 达德利是否为应付账款获得了足够的 适当审计证据。提供您的答案的原因。 Not done sufficient work 工作 不够 Key assertion at risk in accounts payable is completeness 应付账款中存在风险的关键断言 是完整性 Dudley has not tested for completeness. He has only tested balances already in the ledger.
Image of page 2
Image of page 3

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture