Bab 8 Perencanaan audit dan Prosedur Analitis

Tiga alasan perencanaan audit
1. Untuk memperoleh bukti audit yang cukup, sesuai dengan keadaan 2. Untuk membantu auditor dalam menentukan biaya yang beralasan 3. Untuk menghindari kesalahpahaman dengan klien

Risk Terms
 Acceptable audit risk
 Inherent risk

Perencanaan audit dan disain pendekatan audit
Accept client and perform initial audit planning. Understand the client’s business and industry. Assess client business risk. Perform preliminary analytical procedures.

. Understand internal control and assess control risk. Develop overall audit plan and audit program. Gather information to assess fraud risks.Perencanaan audit dan disain pendekatan audit Set materiality and assess acceptable audit risk and inherent risk.

Initial Audit Planning  Client acceptance and continuance  Identify client’s reasons for audit  Obtain an understanding with the client  Develop overall audit strategy .

Understanding of the Client’s Business and Industry Factors that have increased the importance of understanding the client’s business and industry:  Information technology  Global operations  Human capital .

Understanding of the Client’s Business and Industry Understand client’s business and industry Industry and external environment Business operations and processes Management and governance Objectives and strategies Measurement and performance .

Unique accounting requirements .Industry and External Environment Reasons for obtaining an understanding of the client’s industry and external environment: 1. Inherent risks common to all clients in certain industries 3. Risks associated with specific industries 2.

Business Operations and Processes Factors the auditor should understand:  Major sources of revenue  Key customers and suppliers  Sources of financing  Information about related parties .

Tour the Plant and Offices By viewing the physical facilities. the auditor can asses physical safeguards over assets and interpret accounting data related to assets. .

a principal owner of the client company. or any other party with which the client deals.Identify Related Parties A related party is defined as an affiliated company. . where one of the parties can influence the management or policies of the other.

 Corporate charter and bylaws  Code of ethics  Meeting minutes . Governance includes the client’s organizational structure. as well as the activities of the board of directors and the audit committee.Management and Governance Management establishes the strategies and processes followed by the client’s business.

Code of Ethics In response to the Sarbanes-Oxley Act. The SEC also requires companies to disclose amendments and waivers to the code of ethics. the SEC now requires each public company to disclose whether is has adopted a code of ethics that applies to senior management. .

Auditors should understand client objectives.  Financial reporting reliability  Effectiveness and efficiency of operations  Compliance with laws and regulations .Client Objectives and Strategies Strategies are approaches followed by the entity to achieve organizational objectives.

. Examples:  market share  sales per employee  unit sales growth  Web site visitors  same-store sales  sales/square foot Performance measurement includes ratio analysis and benchmarking against key competitors.Measurement and Performance The client’s performance measurement system includes key performance indicators.

 What is the auditor’s primary concern?  Material misstatements in the financial statements due to client business risk .Assess Client Business Risk Client business risk is the risk that the client will fail to achieve its objectives.

Client’s Business. and Risk of Material Misstatement Understand client’s business and industry Industry and external environment Business operations and processes Management and governance Objectives and strategies Assess risk of material misstatements Measurement and performance Assess client business risk . Risk.

It also requires that management certify it has informed the auditor and audit committee of any significant deficiencies in internal control.Sarbanes-Oxley ( new issue) The Sarbanes-Oxley Act requires that management certify it has designed disclosure controls and procedures to ensure that material information about business risks is made known to them. .

Enterprise Risk Management Enterprise risk management (ERM) has emerged as a new paradigm for managing risk. . ERM integrates and coordinates risk management across the entire enterprise.

. Preliminary tests can reveal unusual changes in ratios.Preliminary Analytical Procedures Comparison of client ratios to industry or competitor benchmarks provides an indication of the company’s performance.

51 0.05 2.Examples of Planning Analytical Procedures Selected Ratios Short-term debt-paying ability: Current ratio Client 3.20 5.20 Liquidity activity ratio: Inventory turnover Ability to meet long-term obligations: Debt to equity Profitability ratio: Profit margin 1.36 Industry 5.86 3.07 .73 0.

Summary of the Parts of Auditing Planning A major purpose is to gain an understanding of the client’s business and industry. .

Key Parts of Planning Accept client and perform initial planning  New client acceptance and continuance  Identify client’s reasons for audit  Obtain an understanding with client  Staff the engagement .

strategies.Key Parts of Planning Understand the client’s business and industry  Understand client’s industry and external environment  Understand client’s operations. and performance system .

Key Parts of Planning  Assess client business risk  Evaluate management controls affecting business risk  Assess risk of material misstatements .

Key Parts of Planning Perform preliminary analytical procedures .

Required during the completion phase . Required in the planning phase 2.Analytical Procedures SAS 56 emphasizes the expectations developed by the auditor. 1. Often done during the testing phase 3.

Timing and Purposes of Analytical Procedures Purpose Understand client’s industry and business Assess going concern Indicate possible misstatements (attention directing) Reduce detailed tests (Required) Planning Phase Primary purpose Secondary purpose Primary purpose Secondary purpose Testing Phase (Required) Completion Phase Secondary purpose Primary purpose Secondary purpose Primary purpose .

Five Types of Analytical Procedures Compare client data with: 1. Client-determined expected results 4. Industry data 2. . Auditor-determined expected results 5. Expected results using nonfinancial data. Similar prior-period data 3.

4% Industry 2007 2006 3.4 26.5 26.3% 3.4 26.Compare Client and Industry Data Client 2007 2006 Inventory turnover Gross margin 3.2% .9 27.3% 3.

876 $ 36.665 1.747 $ 3.5 1. $131.8 1.810 17. Net sales Cost of goods sold Gross profit Selling expense Administrative expense Other Earnings before taxes Income taxes Net income $143.8 12.1 2.6 3.0 1.035 $ 4.4 1.2 2.1 27.2 4.845 14.8 2006 (000) Prelim.3 27.899 16.086 103.3 12.4 .757 2.0 72.350 12.934 % of Net sales 100.226 94.241 $ 39.7 9.689 $ 5.9 10.194 % of Net sales 100.681 1.Compare Client Data with Similar Prior Period Data 2007 (000) Prelim.659 1.0 72.465 $ 3.

Common Financial Ratios  Short-term debt-paying ability  Liquidity activity ratios  Ability to meet long-term debt obligations  Profitability ratios .

04 7.73 3.86 1.36 108.04 5.86 7.06 0.Contoh prosedur analitis dalam tahap perencanaan Rasio Short-Term Debt-Paying Ability Cash ratio Quick ratio Current ratio 0.63 1.15 30.09 3.20 12.59 48.06 1.98 3.96 3.57 3.29 0.19 2.51 5.06 1.50 31/12/2010 31/12/2009 Industri Liquidity Activity Ratio Account Receivable turnover Days to collect account receivable Inventory turnover Days to sell inventory Ability to Meet Long-Term Obligation Debt to equity Times interest earned .02 120.20 70.20 3.10 5.45 4.61 47.

05 0.24 Industri 31.85 0.09 0.37 Profitability ratios Gross profit percent Profit margin Return on assets Return on common equity .26 27.05 0.08 0.09 0.00 0.07 0.Contoh prosedur analitis dalam tahap perencanaan Rasio 31/12/2010 31/12/2009 27.70 0.

Formula Financial ratios Short-term Debt Paying Ability Cash ratio = Cash + Marketable securities Current liabilities Cash + Marketable securities + net A R Current liabilities Current assets Current liabilities Quick ratio = Current ratio = .

Formula Financial ratios Liquidity Activity Ratios Account receivable Turnover Net sales Average gross receivables Days to collect receivable 365 dyas Account receivable turnover Cost of goods sold Average inventory 365 days Inventory turnover Inventory turnover Days to sell inventory .

Formula Financial ratios Ability to Meet Long-Term Debt Obligations Debt to equity Total liabilities Total equity Times interest eraned Operating income Interest expense .

Cost of goods sold Net sales Operating income Net sales Income before taxes Average total ssets Income before taxes – preferred dividens Average stockholders equity Gross profit percent Profit margin Return on assets Return on common equity .Formula Financial ratios Profitability Ratios Earning per share Net income Average common shares outstanding Net sales.

. They are used throughout the audit to identify possible misstatements. reduce detailed tests. and to assess going-concern issues. They are used in planning to understand the client’s business and industry.Summary of Analytical Procedures They involve the computation of ratios and other comparisons of recorded amounts to auditor expectations.

adalah pertama kali diaudit.Contoh kertas kerja perencanaan audit No 1 Perencanaan audit Penerimaan klien dan perencanaan audit awal : Penerimaan klien PT. Tahun buku sebelumnya diaudit oleh KAP lain Ref Wp 2 Pemahaman bisnis dan industri klien 3 4 Penilaian risiko bisnis klien Perhitungan awal prosedur analitis AA5 5 6 Penetapan materialitas dan risiko audit Pemahaman pengendalian intern dan risiko pengendalian . Mandiri tahun buku 2012.

PROSEDUR ANALITIS AWAL AA5 Rasio Tahun 2012 Tahun 2011 .

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