Modul ke

AUDIT 1

11 Fakultas
Materialitas & Risiko

EKONOMI DAN
BISNIS
Oleh :
Program Studi
1. Mirna Dianita, S.E., M.M., Ak., CA
2. Rini Susiani, S.E., M.Ak., Ak., CA
Akuntansi
3. Syafdinal, S.E., M.M., Ak
4. Dr. H. Islahuzzaman, S.E., M.Si., Ak., CA
5. Robertus Arynovianto, S.E., M.M., Ak., CA., CTA., CPA., QIA.
6. Dr. Rita Yuniarti, S.E., M.M., Ak., CA
 Semakin tinggi
tingkat material
(jumlah materi
sehingga men
audit yang di
auditor sem
TUJUAN PEMBELAJARAN
KHUSUS
(TPK) - 1

Mahasiswa dapat:
Menerapkan konsep materialitas pada
proses audit
MATERIALITY

The auditor’s responsibility is to

determine whether financial
statements are materially misstated.
If there is a material misstatement,
the auditor will bring it to the client’s
attention so that a correction can be made.
STEPS IN APPLYING MATERIALITY

Set preliminary
Step
judgment about
1
materiality.
Planning
extent
Allocate preliminary of tests
Step judgment about
2 materiality
to segments.
STEPS IN APPLYING MATERIALITY

Step Estimate total

3 misstatement in segment.

Step Estimate the Evaluating

4 combined misstatement. results
Compare combined
Step
estimate with judgment
5
about materiality.
 TUJUAN PEMBELAJARAN KHUSUS
(TPK) - 2

Mahasiswa dapat:
Membuat pertimbangan awal tentang
berapakah nilai yang dianggap
material
SET PRELIMINARY JUDGMENT

Ideally, auditors decide early in the audit

the combined amount of misstatements
of the financial statements that would
be considered material.
This preliminary judgment is the maximum
amount by which the auditor believes the
statements could be misstated and still not
affect the decisions of reasonable users.
FACTORS AFFECTING JUDGMENT

Materiality is a relative rather

than an absolute concept.

Bases are needed for

evaluating materiality.

Qualitative factors also

affect materiality.
TUJUAN PEMBELAJARAN KHUSUS
(TPK) - 3

Mahasiswa dapat:
Mengalokasikan materialitas awal ke
berbagai segmen proses audit
ALLOCATE PRELIMINARY JUDGMENT
ABOUT MATERIALITY TO SEGMENTS

This is necessary because evidence is

accumulated by segments rather than
for the financial statements as a whole.
Most practitioners allocate materiality
to balance sheet accounts.
PSA .. (AU..)
TUJUAN PEMBELAJARAN KHUSUS
(TPK) - 4

Mahasiswa dapat:
Mempergunakan materialitas untuk
mengevaluasi berbagai temuan audit
 ESTIMATED TOTAL
MISSTATEMENT EXAMPLE

Net misstatement of the sample

÷ Total sampled
× Total recorded population value
= Direct projection estimate of misstatement
Rp3.500 ÷ Rp50.000 × Rp450.000 = Rp31.500
 EXAMPLE OF ESTIMATE
FOR SAMPLING ERROR

Tolerable Direct Sampling

Account Misstatement Projection Error Total
Cash Rp 4.000 Rp 0 N/A Rp 0
Accounts receivable 20.000 12.000 6.000* 18.000
Inventory 36.000 31.500 15.750* 47.250
Total estimated
misstatement amount Rp 43.500 Rp 16.800 Rp 60.300
Preliminary judgment
about materiality Rp 50.000
*estimate for sampling error is 50%
TUJUAN PEMBELAJARAN KHUSUS
(TPK) - 5

Mahasiswa dapat:
Mendefinisikan risiko dalam auditing
 RISK

Auditors accept some level of risk

in performing the audit.
An effective auditor recognizes that
risks exist, are difficult to measure,
and require careful thought to respond.
Responding to risks properly is critical
to achieving a high-quality audit.
 RISK AND EVIDENCE

Auditors gain an understanding of the

client’s business and industry and
assess client business risk.
Auditors use the audit risk model to further
identify the potential for misstatements
and where they are most likely to occur.
 EXAMPLE OF DIFFERING
EVIDENCE AMONG CYCLES

Sales and Acquisition Payroll and

Collection and Payment Personnel
Cycle Cycle Cycle
Inherent
A medium high low
risk
Control
B medium low low
risk
Acceptable
C low low low
audit risk
Planned
D medium medium high
detection risk
 EXAMPLE OF DIFFERING
EVIDENCE AMONG CYCLES

Inventory and Capital Acquisition

Warehousing and Repayment
Cycle Cycle
Inherent
A high low
risk
Control
B high medium
risk
Acceptable
C low low
audit risk
Planned
D low medium
detection risk
 TUJUAN PEMBELAJARAN KHUSUS
(TPK) - 6

Mahasiswa dapat:
Menjelaskan model risiko audit beserta
berbagai komponennya
 AUDIT RISK MODEL
FOR PLANNING

PDR = AAR ÷ (IR × CR)

PDR = Planned detection risk

AAR = Acceptable audit risk
IR = Inherent risk
CR = Control risk
 TUJUAN PEMBELAJARAN KHUSUS
(TPK) - 7

Mahasiswa dapat:
Mempertimbangkan dampak risiko bisnis
pada risiko audit yang bisa diterima
 IMPACT OF ENGAGEMENT RISK
ON ACCEPTABLE AUDIT RISK

Auditors decide engagement risk and use

that risk to modify acceptable audit risk.
Engagement risk closely relates to
client business risk.
 FACTORS AFFECTING
ACCEPTABLE AUDIT RISK

The degree of which external users

rely on the statements
The likelihood that a client will have
financial difficulties after the
audit report is issued
 FACTORS AFFECTING
ACCEPTABLE AUDIT RISK

The auditor’s evaluation of

management’s integrity
 Making the Acceptable
Audit Risk Decision

Factors Methods to Assess Risk

• Examine financial statements.
External users •
Read minutes of the board.
reliance on •
Examine form …..
financial • Discuss financing plans
statements
with management.
 Making the Acceptable
Audit Risk Decision

Factors Methods to Assess Risk

 Analyze financial statements
Likelihood
for difficulties using ratios.
of financial 
Examine inflows and
difficulties
outflows of cash flow
statements.
Management  See Audit Palanning for
integrity client acceptance and
continuance.
Tujuan Pembelajaran Khusus
(TPK) - 8

Mahasiswa dapat:
Mempertimbangkan dampak dari
beberapa faktor pada penilaian risiko
inheren
 Major Factors When
Assessing Inherent Risk

 Nature of the client’s business

 Results of previous audits
 Initial versus repeat engagement
 Related parties
 Nonroutine transactions
 Judgment – correctly record account
balances and transactions
 Makeup of the population
Assessing Risks of Fraud

Three conditions are generally present.

1. Incentives/Pressures

2. Opportunities

3. Attitudes/Rationalization
 Examples of Risks Factors
for Fraudulent Reporting

1. Incentives/Pressures

Financial stability or profitability is threatened by

economic, industry, or entity operating conditions.
Excessive pressure exists for management
to meet debt requirements.
Personal net worth is materially threatened.
 Examples of Risks Factors
for Fraudulent Reporting

2. Opportunities

There are significant accounting estimates

that are difficult to verify.
There is ineffective oversight over
financial reporting.
High turnover or ineffective accounting internal
audit, or information technology staff exists.
 Examples of Risks Factors
for Fraudulent Reporting

3. Attitudes/Rationalization

Inappropriate or inefficient communication

and support of the entity’s values is evident.
A history of violations of laws is known.
Management has a practice of making overly
aggressive or unrealistic forecasts.
 Responding to the
Risk of Fraud

Design and perform audit procedures

to address identified fraud risk.
Change the overall conduct of the audit
to respond to identified fraud risk.
Perform procedures to address the risk
of management override of controls.
Tujuan Pembelajaran Khusus
(TPK) - 9

Mahasiswa dapat:
Membahas hubungan antara risiko dan
bukti audit
 Relationship of Risk Factors,
Risk, and Evidence
Acceptable audit risk

D D I
Factors Planned Planned
Inherent I I
Influencing detection audit
risk
Risks risk evidence
I D
Control risk
Direct relationship; I = Inverse relationship
Changing the Audit in Response to
Risk

The engagement may require

more experienced staff.

The engagement will be reviewed

more carefully than usual.
Audit Risk for Segments

Both control risk and inherent risk

are typically set for each cycle,
each account, and often even
each audit objective, not for
the overall audit.
 Relating Risk of Fraud to
Risk Model Components

The risk of fraud can be assessed

for the entire audit or by cycle,
account, and objective.
audit risk, inherent risk, and control risk.
revising assessments of acceptable
Specific response could include
 Tolerable Misstatement, Risks,
and Balance-related Objectives

It is common to assess inherent and control

risk for each balance-related audit objective.
It is not common to allocate
materiality to objectives.
 Measurement Limitations

One major limitation in the application

of the audit risk model is the difficulty
of measuring the components of the model.
 Relationships of Risk
to Evidence

Acceptable Planned Amount of

Audit Inherent Control Detection Evidence
Situation Risk Risk Risk Risk Required
1 High Low Low High Low
2 Low Low Low Medium Medium
3 Low High High Low High
4 Medium Medium Medium Medium Medium
5 High Low Medium Medium Medium
 Tests of Details of Balances Evidence
Planning Worksheet

Auditors develop various types of worksheets to

aid in relating the considerations affecting audit
evidence to the appropriate evidence to accumulate.
Tujuan Pembelajaran Khusus
(TPK) - 10

Mahasiswa dapat:
Membahas bagaimana risiko dan
materialitas tersebut saling terkait dan
terintegrasi dalam suatu proses audit
 Tolerable Misstatements,
Risk, and Planned Evidence
Acceptable
audit risk
D D I
Inherent Planned I Planned
risk I detection risk audit evidence

Control I D I
risk

Tolerable
misstatement
D = Direct relationship; I = Inverse relationship
Audit Risk Model for Evaluating
Results

AcAR = IR × CR × AcDR

AcAR = Achieved audit risk

AcDR = Achieved detection risk
IR = Inherent risk
CR = Control risk
 Revising Risks
and Evidence

The audit risk model is primarily a

planning model and is therefore of
limited use in evaluating results.
Great care must be used in revising
the risk factors when the actual results
are not as favorable as planned.
Terima Kasih Atas Perhatiannya

Oleh :
1. Mirna Dianita, S.E., M.M., Ak., CA
2. Rini Susiani, S.E., M.Ak., Ak., CA
3. Syafdinal, S.E., M.M., Ak
4. Dr. H. Islahuzzaman, S.E., M.Si., Ak., CA
5. Robertus Arynovianto, S.E., M.M., Ak., CA., CTA., CPA., QIA.