TUTORIAL

PEMERIKSAAN
AKUNTANSI
2014
Novia Wijaya, SE., M.Si.
 NATURE OF AUDITING
Auditing is the accumulation and evaluation
of evidence about information to determine
and report on the degree of correspondence
between the information and established criteria.

Auditing should be done by a competent,

independent person.

To do an audit, there must be information in a

verifiable form and some standards (criteria)
by which the auditor can evaluate the information.
DISTINGUISH BETWEEN
AUDITING AND ACCOUNTING
Accounting is the recording, classifying,
and summarizing of economic events
for the purpose of providing financial
information used in decision making.

Auditing is determining whether

recorded information properly
reflects the economic events that
occurred during the accounting period.
ASSURANCE, ATTESTATION, AND
NONASSURANCE SERVICES
 TYPES OF
• Operational
AUDITS

• Compliance

• Financial Statements
 AUDITING
STANDARDS
Subtitle
GAAS
AUDIT REPORT
Subtitle
PARTS OF THE STANDARD
UNQUALIFIED AUDIT REPORT
1. Report title
2. Audit report address
3. Introductory paragraph
4. Scope paragraph
5. Opinion paragraph
6. Name of CPA firm
7. Audit report date
PARTS OF THE STANDARD UNQUALIFIED AUDIT
REPORT
EFFECT OF MATERIALITY
LO# 5
 SARBANES-OXLEY ACT AND SEC PROVISIONS
ADDRESSING AUDITOR INDEPENDENCE
Prohibited Services

1. Bookkeeping and other accounting services

2. Financial information systems design and implementation
3. Appraisal or valuation services
4. Actuarial services
5. Internal audit outsourcing
6. Management of human resource functions
7. Broker, dealer, or investment adviser or investment banker services
8. Legal and expert services unrelated to the audit
9. Any other service that the PCAOB determines by regulation is impermissible
 AUDIT
RESPONSIBILITIES
AND OBJECTIVES
Subtitle
 MANAGEMENT’S RESPONSIBILITIES

Financial statements and internal controls.

Sarbanes-Oxley increases management’s

responsibility for the financial statements.

CEO and CFO must certify quarterly and annual

financial statements submitted to the SEC.
OBJECTIVES OF THE AUDITOR
Obtain Free from
Financial
reasonable material
statements
assurance misstatements

Applicable
Financial
Opine reporting
statements
framework
Communicate
Financial
Report per audit
statements
standards
 Tujuan Audit Terkait Transaksi Tujuan Audit Terkait Saldo Tujuan Audit Terkait Penyajian
dan Pengungkapan
Occurrence Existence Occurrence
Rights and obligations

Completeness Completeness Completeness

Accuracy Accuracy Accuracy and valuation
Posting and Summarization Classification Classification and
undestandability

Classification Cut off

Timing Detail tie in
Realizable value
Rights and obligations
NATURE AND TYPE
OF
AUDIT EVIDENCE
Subtitle
 AUDIT EVIDENCE DECISIONS
1. Which audit procedures to use
2. What sample size to select
for a given procedure
3. Which items to select from
the population
4. When to perform the
procedures (timing)
 PERSUASIVENESS OF EVIDENCE
Two determinants:

Appropriateness Sufficiency

The persuasiveness of evidence can be evaluated only after

considering the combination of appropriateness and sufficiency
TYPES OF AUDIT EVIDENCE
Physical
Examination
Confirmation
Observation

Audit Documentation
Reperformance Evidence

Analytical
procedures
Recalculation
Inquiry
AUDIT RISK MODEL FOR PLANNING

PDR = AAR ÷ (IR × CR)

where: PDR = Planned detection risk

AAR = Acceptable audit risk

IR = Inherent risk

CR = Control risk
FIVE COMPONENTS OF INTERNAL CONTROL
CONSIDERING
THE RISK OF
FRAUD
Subtitle
TYPES OF FRAUD
Management
Fraud

Fraudulent
Misappropriation
financial
of assets
reporting
THE FRAUD TRIANGLE
Incentives/Pressures

Opportunities Attitudes/Rationalization
 DEVELOPING THE
OVERALL AUDIT PLAN
AND AUDIT PROGRAM
Subtitle
 SUMMARY OF THE AUDIT PROCESS
Perform analytical
Plan and design procedures and
Phase I an audit approach Phase III tests of details
of balances

Perform tests of
Complete the
controls and
Phase II Phase IV audit and issue
substantive tests
an audit report
of transactions
SUMMARY OF THE AUDIT PROCESS: PHASE I
Accept client and perform initial planning

Understand the client’s business and industry

Assess client’s business risk

Perform preliminary analytical procedures

SUMMARY OF THE AUDIT PROCESS: PHASE I
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

SUMMARY OF THE AUDIT PROCESS: PHASE II

Plan to reduce assessed No

level of control risk?

Yes
Perform tests of controls

Perform substantive tests of transactions

Assess likelihood of misstatements in

financial statements
SUMMARY OF THE AUDIT PROCESS: PHASE III

High or
Low Medium
unknown
Perform analytical procedures
Perform tests of key items
Perform additional tests
of details of balances
SUMMARY OF THE AUDIT PROCESS: PHASE IV
Perform additional tests for
presentation and disclosure

Accumulate final evidence

Evaluate results

Issue audit report

Communicate with audit

committee and management
AUDIT OF CASH BALANCES

• Lapping
• Kitting
 AUDIT
COMPLETION
Subtitle
CONTINGENT LIABILITIES
A contingent liability is a potential future
obligation to an outside party for an
unknown amount resulting from activities
that have already taken place.
 LIKELIHOOD OF OCCURRENCE AND
FINANCIAL STATEMENT TREATMENT
Likelihood of Financial Statement
Occurrence of Event Treatment
Remote No disclosure
(slight chance) is necessary
Reasonably Footnote disclosure
possible is necessary
Probable
(likely to occur) Adjust financial statements
or note disclosure depending on amounts
involved
 PERIOD COVERED BY SUBSEQUENT EVENTS
REVIEW
Client’s ending Audit Date client
balance sheet report issues financial
date date statements

12-31-09 3-11-10 3-26-10

Period to which review for Period for

subsequent events applies processing
the financial
statements
TYPES OF SUBSEQUENT EVENTS
 Those that have a direct effect
on the financial statements
and require adjustment
 Those that do not have a direct
effect on the financial statements
but for which disclosure is required
REQUIRING ADJUSTMENT
 Declaration of bankruptcy by a customer
with an accounts receivable balance
 Settlement of a litigation at an amount
different from the amount recorded
on the books
 Disposal of equipment not being used in
operations at a price below the current
book value
 Sale of investments at a price below
recorded cost
ADVISABILITY OF DISCLOSURE
 Decline in the market value of securities
held for temporary investment or resale
 Issuance of bonds or equity securities
 Decline in the market value of inventory
as a consequence of government action
barring further sale of a product
 Uninsured loss of inventories as a result
of fire
 A merger or an acquisition
 DUAL DATING
The first date is the date for the completion
of field work except for a specific exception

 The second date, which is always later,

deals with the exception

Example: An auditor returned to the client’s premises to perform audit tests

pertaining only to the acquisition and completes those tests on March 31. The audit
report will be dual-dated as follows: March 11, 2010, except for note 17, which is
dated March 31, 2010.
Terima Kasih