Modul ke

AUDITING 1

09 PERENCANAAN AUDIT
DAN PROSEDUR
Fakultas

Ekonomi dan Bisnis

ANALITIS
Oleh :
Program Studi 1. Dr. Rita Yuniarti, S.E., M.M., Ak., CA.
Akuntansi S1 2. Dr. Islahuzzaman, S.E., M.Si., Ak., CA
3. Syafdinal, S.E., M.M., Ak.
4. Rini Susiani, S.E., M.M., Ak., CA.
5. Mirna Dianita, S.E., M.M., Ak., CA.
6. Robertus Ary Novianto, S.E., M.M., Ak...
Learning Objective 1

Discuss why adequate audit

planning is essential.
.
 
 Three Main Reasons for Planning
1. To obtain sufficient competent evidence
for the circumstances

2. To help keep audit costs reasonable

3. To avoid misunderstanding with the

client.
Risk Terms

 Acceptable audit risk

 Inherent risk

 
.
Planning an Audit and Designing an Audit Approach

 Accept client and perform initial audit

planning.
 Understand the client’s business and
industry.
 Assess client business risk.
 Perform preliminary analytical
procedures.
Planning an Audit and Designing an Audit Approach

 Set materiality and assess acceptable audit

risk and inherent risk.
 Understand internal control and assess
control risk.
 Gather information to assess fraud risks.
 Develop overall audit plan and audit
program.
Learning Objective 2

Make client acceptance decisions

and perform initial audit planning.
Initial Audit Planning

 Client acceptance and continuance

 Identify client’s reasons for audit
 Obtain an understanding with the client
 Develop overall audit strategy
material misstatements.
Learning Objective 3
Gain an understanding of the client’s business
and industry.
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
Industry and External Environment

1. Risks associated with specific industries

2. Inherent risks common to all clients in
certain industries
3. Unique accounting requirements
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.
Identify Related Parties

A related party is defined as an affiliated

company, a principal owner of the client
company, or any other party with which
the client deals, where one of the parties
can influence the management or
policies of the other.
Management and Governance
Management establishes the strategies and
processes followed by the client’s business.

Governance includes the client’s organizational

structure, as well as the activities of the board
of directors and the audit committee.

Corporate charter and bylaws

Code of ethics
Meeting minutes
 Code of Ethics

In response to the Sarbanes-Oxley Act, the SEC

now requires each public company to disclose
whether is has adopted a code of ethics that
applies to senior management.

The SEC also requires companies to disclose

amendments and waivers to the code of ethics.
 Client Objectives and Strategies

Strategies are approaches followed by the

entity to achieve organizational objectives.

Auditors should understand client objectives.

Financial reporting reliability

 Effectiveness and efficiency of operations

Compliance with laws and regulations
Learning Objective 4

• Assess client business risk.

Assess Client Business Risk

Client business risk is the risk that the

client will fail to achieve its objectives.

What is the auditor’s primary concern?

Material misstatements in the financial

statements due to client business risk
Assess Client Business Risk
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.
Learning Objective 5

Perform preliminary analytical

procedures.
Preliminary Analytical Procedures

Comparison of client ratios to industry

or competitor benchmarks provides an
indication of the company’s performance.

Preliminary tests can reveal unusual

changes in ratios.
Assess Client Business Risk
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
 Key Parts of Planning

Understand the client’s business and industry

Understand client’s industry and external environment

Understand client’s operations, strategies, and performance

system
Terima Kasih Atas Perhatiannya

1. Dr. Rita Yuniarti, S.E., M.M., Ak., CA.

2. Dr. Islahuzzaman, S.E., M.Si., Ak., CA
3. Syafdinal, S.E., M.M., Ak.
4. Rini Susiani, S.E., M.M., Ak., CA.
5. Mirna Dianita, S.E., M.M., Ak., CA.
6. Robertus Ary Novianto, S.E., M.M., Ak...