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Boynton, Johnson, and Kell


Chapter Overview


1. Tests of Revenue and Expenses Accounts
2. Tests of Accounting Estimate
3. Completing the audit:

Making subsequent event review

Reading minutes of meetings
Obtaining evidence concerning litigation, claims and
Obtaining client representation letter
Performing analytical procedures
4. Evaluation of the finding & Communication

Test of Revenue & Expense Account

Tujuan: terjadinya, kelengkapannya, penilaian atau
alokasinya, serta penyajian dan pengungkapan.
Prosedur pengujian:
(1) Prosedur Analitis
(2) Pemgujian secara detail
a. Struktur pengendalian intern
b. Frekuensi transaksi,
c. Hasil ratio dalam prosedur analitis.
d. Perlunya perhatian khusus terhadap rekening

Tests of Accounting Estimate

Estimasi Akuntansi:
Taksiran tak trtaginya piutang
Persediaan yang usang
Depresiasi dan Amortisasi
Biaya Jaminan (Garansi)
Biaya Pensiun
Pendapatan penumpang pesawat terbang
Pendapatan kontrak jangka panjang.
Standard of Auditing Statement No.57:
a. memperoleh keyakian telah dilakukanya estimasi.
b. meyakinkan bhwa estimasi telah memadai.

Membaca notulen rapat
Pelajari kontrak,
Review laporan-laporan pihak ketiga
Analisi biaya kuasa hukum (indikasi adanya
proses peradilan yang belum selesai)
Review kertas kerja

Subsequent Event
(time dimension)
Balance sheet
Date 31/12

End of Field work

1/3 (report date)

Report issuance
date,15 Mart

Subsequent event

Subsequent period

Peristiwa Kemudian
1. Mempengaruhi secara material
terhadap Laporan Keuangan.
2. Terjadi setelah tanggal neraca
tetapi sebelum diterbitkan laporan
keuangan auditan dan laporan audit.

Types of Events
Type 1 subsequent event provide additional
evidence with respect to conditions that existed
at the date of the balance sheet and affect
the estimates inherent in the process of
preparing financial statement
Type 2 subsequent event provide evident with
respect to condition that did not exist of the
balance sheet date but arose subsequent of
that date
require disclosure

Example of the two types of events:

Type 1

Type 2

Realization of recorded year

end assets such receivable
and inventory, at different
amount than recorded.
Settlement of recorded yearend estimated liabilities,
such as litigation and
product warranties, at
different amount than

Issuance of long term bond

or preferred stock or
common stock.
Purchase of business, merger
Casualty losses resulting from
fire or flood

Auditing Procedures in the

Subsequent events
Read the latest interim financial statements, and
comparing with the circumstances ,
Inquire of management:
a. any contingent liabilities or commitments,
b. any significant changes in capital stock, LTD
c. The current status of items inccnclusive data
d. any unusual adjustment
Read minute of meeting of directors, stockholder,and
appropriate committee
Inquire of clients legal counsel
Obtain letter of representation about subsequent event
Make additional inquire or perform additional procedures.

Evaluating The Findings

Making final assessment of materiality and risk,
Evaluating whether there is doubt about the
entitys ability to continue as going concers
Making technical review of financial statements,
Formulating opinion and drafting audit report.
Making final review(s) of working papers.

Effect on Auditors Report

Will effect in auditors report
from the auditors standard report.
Auditor should express either a qualified opinion or
an adverse opinion, depend on materiality, because
the financial statements are not presented fairly in
accordance with GAAP

Communicating Internal Control Matters:
a. the communicating preferable should in writing
b. The distribution of the report should ordinary
be restricted to audit committee, management.
c. The communication should be made in a timely
manner either during the audit or after its
Communicating matters pertaining to Conduct of
Preparing management letter

Summary of Completing the Audit

Post Audit Responsibilities

Subsequent events occurring between the date
and issuance of the auditors report.

SAS 1 = the auditor has no responsibility to make any inquire or

to perform any auditing procedures during this time period to
discover any material subsequent events. However if knowledge
of such an event he should consider,..standard report
(adjustment, disclosure) and may use dual dating.

The discovery of exiting facts.

a. the auditor has no responsibility for post

audit discovery

fact existing,(but unknown)

b. the auditor become aware of such facts, and the facts may
have affected the report that was issued.

The discovery of omitted procedures

Figure 19-5 summary ch 19.

Special Report
Financial statement that are prepared in basis of
accounting other than GAAP.
Specified element, account, or items of a Fin.Stt.
Compliance with aspects of contractual agreement,
or regulatory requirement,
Financial presentation to comply with contractual
agreement or regulatory provision,
Financial information presented in prescribe form
or schedules that require a prescribe form of
auditors report.

Financial statement that are prepared in

basis of accounting other than GAAP.
1. FS should indicated the basis of accounting
2.The auditors report contain four paragraph
a. introductory,
b. scope,
c. explanatory,
d. opinion.