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首页 PL888432_Activity4_0_Completion_TPA_Group i-butt…

PL888432_Activity4_0_Completion_TPA_Group i-buttons.pdf

PL888432_Activity4_0_Completion…

阳光下的维娜斯
2012-05-06 0人阅读 举报 0 0 0 暂无简介

简介:本文档为《PL888432_Activity4_0_Completion_TPA_Group i-buttonspdf》,可适用于财会税务领域

ABCDeAudITActivity–CompletionApplicableWorkflow:InternationalFSAGroupAuditJuly©KPMGInternationalCooperative(“KPMGInternational”),aSwissentityMemberfirmsoftheKPMGnetworkofindependentfirmsareaffiliatedwithKPMGInternationalKPMGInternationalprovidesnoclientservicesNomemberfirmhasanyauthoritytoobligateorbindKPMGInternationaloranyothermemberfirmvisàvisthirdparties,nordoesKPMGInternationalhaveanysuchauthoritytoobligateorbindanymemberfirmAllrightsreservedABCDi©KPMGInternationalCooperative(“KPMGInternational”)KPMGInternationalprovidesnoclientservicesandisaSwissentitywithwhichtheindependentmemberfirmsoftheKPMGnetworkareaffiliatedContentsReassessMaterialityReassessMateriality•RevisedMateriality(roundedasappropriate)IFSAGAa•AretheresignificantaccountsordisclosuresinadditiontothosedeterminedduringRiskAssessmentthatwillbeauditedusingalowerMaterialityduetousers’expectationsforthesignificantaccountdisclosureordoyouneedtorevisethelowerMateriality(s)determinedforthesignificantaccount(s)disclosure(s)duringRiskAssessmentIFSAGAc•RevisedPerformanceMateriality(roundedasappropriate)IFSAGAe•RevisedAMPT(roundedasappropriate)IFSAGAgReassessMateriality–ComponentAuditor•ReassessmentofmaterialityconsiderationsIFSAGAaReassessMaterialityGroupAuditor•DoesComponentMaterialityneedtoberevisedIFSAGAa•DoesAMRTneedtoberevisedIFSAGAcGroupAuditCompletionActivitiesReassessGroupAuditScope•InRiskAssessment,weidentifiedthefollowingcomponentsandtypeofworkforeachofthosecomponentswhereproceduresonthefinancialinformationareperformedaspartofthegroupauditIFSAGAa•Doyouneedtochangetheclassificationofcomponent(s)ortypeofworktobeperformedoncomponent(s)IFSAGAc•Provideanexplanationwhennecessarytounderstandthechange(s)madeIFSAGAeABCDii©KPMGInternationalCooperative(“KPMGInternational”)KPMGInternationalprovidesnoclientservicesandisaSwissentitywithwhichtheindependentmemberfirmsoftheKPMGnetworkareaffiliatedEvaluateComponentAuditorWork•HavesignificantmattersarisingfromtheevaluationofthecomponentauditorcommunicationsinactivityReportingfromcomponentauditorsbeendiscussedwiththecomponentauditors,componentmanagementorgroupmanagement,asappropriateIFSAGAa•InadditiontothefurtherauditproceduresdocumentedinactivityInvolvementofcomponentauditors,isitnecessarytoreviewotherrelevantpartsofthecomponentauditor’sdocumentationIFSAGAc•IstheworkofanycomponentauditorconsideredinsufficientIFSAGAeFinancialReportingProcessSubsequentEvents•AuditproceduresperformedoversubsequenteventsIFSAGAaReportingCommunications•GeneralcommunicationsIFSAGAc•AuditMisstatementsIFSAGAe•ControldeficienciesIFSAGAg•ActualorSuspectedFraudNoncomplianceIllegalActsIFSAGAi•OtherIFSAGAkInterofficeandInterfirmReport•HavewecompliedwiththeinstructionsfromtheGroupAuditorIFSAGAa•Arethereanymattersthatresultedorcouldhaveresultedinmodificationofourcomponentauditor’sreport(s)IFSAGAc•AttachrelevantGroupauditcompletiondocumentationIFSAGAeComponentAuditCompletionActivitiesABCDiii©KPMGInternationalCooperative(“KPMGInternational”)KPMGInternationalprovidesnoclientservicesandisaSwissentitywithwhichtheindependentmemberfirmsoftheKPMGnetworkareaffiliatedSubsequentEventsafterGroupReportingDates•DoyouneedtoperformprocedurestoidentifysubsequenteventsaftertheinterofficereportdateinaccordancewiththeGroupAuditInstructionsIFSAGAaABCD©KPMGInternationalCooperative(“KPMGInternational”)KPMGInternationalprovidesnoclientservicesandisaSwissentitywithwhichtheindependentmemberfirmsoftheKPMGnetworkareaffiliatedReassessMaterialityReassessMateriality•RevisedMateriality(roundedasappropriate)IFSAGAaGuidanceforGroupengagementteamGroupmaterialityRThegroupengagementteamshalldeterminethefollowing:•materialityforthegroupfinancialstatementsasawholewhenestablishingtheoverallgroupauditstrategyNote:ThegroupengagementteamshallusetheconsolidatedorcombinedamountsofthegroupwhendeterminingmaterialityforthegroupfinancialstatementsasawholeInthecontextofagroupaudit,materialityisestablishedforboththegroupfinancialstatementsasawhole,andforthefinancialinformationofthecomponentsMaterialityforthegroupfinancialstatementsasawholeisusedwhenestablishingtheoverallgroupauditstrategy•AretheresignificantaccountsordisclosuresinadditiontothosedeterminedduringRiskAssessmentthatwillbeauditedusingalowerMaterialityduetousers’expectationsforthesignificantaccountdisclosureordoyouneedtorevisethelowerMateriality(s)determinedforthesignificantaccount(s)disclosure(s)duringRiskAssessmentIFSAGAcGuidanceforGroupengagementteamLowerMaterialitybecauseofusers’expectationsneedsRThegroupengagementteamshalldeterminethefollowing:•if,inthespecificcircumstancesofthegroup,thereareparticularaccountsordisclosuresinthegroupfinancialstatementsforwhichmisstatementsoflesseramountsthanmaterialityforthegroupfinancialstatementsasawholecouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthegroupfinancialstatements,thematerialitylevelorlevelstobeappliedtothoseparticularaccountsordisclosuresInthecontextofagroupaudit,materialityisestablishedforboththegroupfinancialstatementsasawhole,andforthefinancialinformationofthecomponentsMaterialityforthegroupfinancialstatementsasawholeisusedwhenestablishingtheoverallgroupauditstrategyABCD©KPMGInternationalCooperative(“KPMGInternational”)KPMGInternationalprovidesnoclientservicesandisaSwissentitywithwhichtheindependentmemberfirmsoftheKPMGnetworkareaffiliated•RevisedPerformanceMateriality(roundedasappropriate)IFSAGAeGuidanceforGroupengagementteamGroupaggregationriskandrespondingtogroupaggregationriskGroupaggregationriskistheriskthattheaggregateofuncorrectedandundetectedmisstatementsinthegroupfinancialstatementsexceedsmaterialityforthegroupfinancialstatementsasawholeRThegroupengagementteamshalldeterminethefollowingtorespondtogroupaggregationrisk:•performancematerialityatthegroupfinancialstatementlevelToreducegroupaggregationrisktoanappropriatelylowlevel,componentmaterialityandperformancematerialityeachshallbelowerthanmaterialityforthegroupfinancialstatementsasawholePerformancematerialityatthegroupfinancialstatementlevelThegroupengagementteamdeterminesperformancematerialityatthegroupfinancialstatementlevelforthepurposeofdeterminingthenature,timingandextentofauditingprocedurestobeperformedbythegroupengagementteam(egovertheconsolidationprocess)Whensignificantaccounts,disclosuresandrelevantassertionsaredeterminedatthegrouplevel,performancematerialityalsomaybehelpfulwithdetermining:•therisksofmaterialmisstatement(basedonthegroupfinancialstatements)thatmeritaresponseinthecontextofthegroupaudit,•thesignificantaccountsanddisclosuresandrelevantassertionsandthematerialaccountsthatarenotsignificantaccountsanddisclosures(basedonthegroupfinancialstatements)thatexist,Note:Allaccountbalancesanddisclosuresthatexceedperformancematerialitymaynotbesignificantaccountsordisclosures•theresponsetotheassessedrisksofmaterialmisstatementassociatedwithsignificantaccountsanddisclosuresandrelevantassertions(identifiedbasedonthegroupfinancialstatements)Respondingtogroupaggregationrisk–additionalconsiderationsGroupaggregationriskisalsoconsideredwhendesigningspecifiedauditprocedurestobeperformedonthefinancialinformationofacomponentaspartofthegroupauditThegroupengagementmayeither:•explicitlydetermineacomponentmaterialityandaperformancematerialityatthecomponentlevelfortherespectivecomponentanddesignthespecifiedauditproceduresusingthosematerialitythresholdsorABCD©KPMGInternationalCooperative(“KPMGInternational”)KPMGInternationalprovidesnoclientservicesandisaSwissentitywithwhichtheindependentmemberfirmsoftheKPMGnetworkareaffiliated•implicitlyconsidergroupaggregationriskinthedesignofthespecifiedauditprocedures•RevisedAMPT(roundedasappropriate)IFSAGAgGuidanceforGroupengagementteamGroupauditmisstatementpostingthresholdRThegroupengagementteamshallalsodeterminethefollowing:•thethresholdabovewhichmisstatementscannotberegardedasclearlytrivialtothegroupfinancialstatementsThisamountisreferredtoasthegroupauditmisstatementpostingthresholdReassessMateriality–ComponentAuditor•ReassessmentofmaterialityconsiderationsIFSAGAaGuidanceforComponentauditorComponentauditmisstatementpostingthresholdRWhereaKPMGcomponentauditorperformsanauditofthefinancialinformationofacomponent,includinganauditofoneormoreaccountbalancesordisclosuresincludedinthefinancialinformationofacomponent,aspartofthegroupaudit,theKPMGcomponentauditorshalldetermineanauditmisstatementpostingthresholdThecomponentauditmisstatementpostingthresholdshallnotexceedAMRTThecomponentauditorusescomponentmaterialitywhendeterminingthecomponentauditmisstatementpostingthresholdInaccumulatingauditmisstatementsoverthecomponentauditmisstatementpostingthreshold,thecomponentauditormayidentifyauditmisstatementsthatareindividuallylessthanAMRTThecomponentauditormaydetermine,basedonjudgment,thatcommunicatingamountsbelowAMRTtothegroupengagementteamisappropriateInthissituation,individualauditmisstatementsbelowAMRTmaybeaggregatedpriortocommunicationtothegroupengagementteamABCD©KPMGInternationalCooperative(“KPMGInternational”)KPMGInternationalprovidesnoclientservicesandisaSwissentitywithwhichtheindependentmemberfirmsoftheKPMGnetworkareaffiliatedReassessMaterialityGroupAuditor•DoesComponentMaterialityneedtoberevisedIFSAGAaGuidanceforGroupengagementteamGroupaggregationriskandrespondingtogroupaggregationriskGroupaggregationriskistheriskthattheaggregateofuncorrectedandundetectedmisstatementsinthegroupfinancialstatementsexceedsmaterialityforthegroupfinancialstatementsasawholeRThegroupengagementteamshalldeterminethefollowingtorespondtogroupaggregationrisk:•componentmaterialityforthosecomponentswherecomponentauditorswillperformanaudit,areview,oranauditofoneormoreaccountbalancesordisclosuresforpurposesofthegroupauditToreducegroupaggregationrisktoanappropriatelylowlevel,componentmaterialityandperformancematerialityeachshallbelowerthanmaterialityforthegroupfinancialstatementsasawholeComponentmaterialityInmeetingtheaboverequirement,differentcomponentmaterialitymaybeestablishedfordifferentcomponentsComponentmaterialityneednotbeanarithmeticalportionofthematerialityforthegroupfinancialstatementsasawholeand,consequently,theaggregateofcomponentmaterialityforthedifferentcomponentsmayexceedthematerialityforthegroupfinancialstatementsasawholeComponentmaterialityisusedwhenestablishingtheoverallauditstrategyforacomponentFactorsthatmayinfluencetheextenttowhichcomponentmaterialityisestablishedatalevellowerthangroupmaterialitymayinclude:•numberofcomponentsNote:Groupaggregationriskincreasesasthenumberofindividualcomponentsthatcompriseagroupincreases•natureandextentofmisstatementsexpectedinthecurrentperiodNote:TheexpectationofalargernumberofmisstatementsatseveralcomponentsmayleadthegroupengagementteamtoconcludethatthereisahigherlevelofaggregationriskatthegroupfinancialstatementlevelForexample,ifthereisagreaterlikelihoodofindividuallyimmaterialmisstatementsremaininguncorrectedandundetectedbythecomponentauditorsthat,intheaggregate,mayexceedgroupmateriality,thegroupengagementteamwouldestablishlowerlevelsofcomponentmaterialityAlso,forexample,ifcontroldeficienciesareidentifiedincertaingroupwidecontrolsorfraudriskindicatorsatgroupmanagementlevelareidentified,theABCD©KPMGInternationalCooperative(“KPMGInternational”)KPMGInternationalprovidesnoclientservicesandisaSwissentitywithwhichtheindependentmemberfirmsoftheKPMGnetworkareaffiliatedgroupengagementteammayconcludethatthereishighergroupaggregationrisk•natureandextentofaccountingjudgmentsmadeatcomponentsNote:Groupaggregationriskincreasesasthecomplexityoftheaccountingjudgmentsmadeatthecomponentsincreases•proportionofthegroupnotsubjecttoanaudit,arevieworspecifiedauditproceduresNote:Groupaggregationriskincreasesastheproportionofthegroupnotsubjecttoanaudit,arevieworspecifiedauditproceduresincreases•proportionofthegroupnotsubjecttostatutoryauditsNote:Statutoryauditsofcomponents’financialstatementsoftenareconductedbyapplyingalocallydeterminedmaterialitythatordinarilyislowerthancomponentmaterialitydeterminedbythegroupengagementteamforgroupauditpurposesTheperformanceofstatutoryauditsandreportingofresultstothegroupengagementteam,priortocompletionofthegroupaudit,mayreducegroupaggregationriskRespondingtogroupaggregationrisk–additionalconsiderationsInaddition,theremaybeparticularaccountsordisclosuresinthegroupfinancialstatementsforwhichmisstatementsoflesseramountsthanmaterialityforthegroupfinancialstatementsasawholecouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthegroupfinancialstatementsWhenthegroupengagementteamdetermineslowermaterialitylevelorlevelstobeappliedtothoseparticularaccountsordisclosures,thegroupengagementteammayalsodeterminelowercomponentmaterialitylevelorlevelstobeappliedtothoseparticularaccountsordisclosuresbycomponentauditorsNevertheless,thegroupengagementteamisrequiredtocommunicatethelowermaterialitylevelorlevelstocomponentauditorsComponentssubjecttoauditbystatute,regulationorotherreasonRIfacomponentissubjecttoauditbystatute,regulationorotherreason,andthegroupengagementteamdecidestousethataudittoprovideauditevidenceforthegroupaudit,thegroupengagementteamshalldeterminewhether:•materialityforthecomponentfinancialstatementsasawholeand•performancematerialityatthecomponentlevelmeetstherequirementabove(componentmateriality)andtherequirementin(performancematerialityatthecomponentlevel)Whenthegroupengagementteamplanstousethecomponentauditor’saudittoprovideauditevidenceforthegroupaudit,thegroupengagementteammaydeterminethat:ABCD©KPMGInternationalCooperative(“KPMGInternational”)KPMGInternationalprovidesnoclientservicesandisaSwissentitywithwhichtheindependentmemberfirmsoftheKPMGnetworkareaffiliated•thematerialitytobeusedbythecomponentauditorrepresentsanappropriatecomponentmaterialityforpurposesofthegroupaudit,and•theperformancematerialityatthecomponentlevelrepresentsanappropriateperformancematerialityforpurposesofthegroupaudit,forexample,byaskingthecomponentauditortoeither:−confirmthatmaterialityforthecomponentfinancialstatementsasawholeisequaltoorlessthanthecomponentmaterialitydeterminedbythegroupengagementteamandinformthegroupengagementteamoftheperformancematerialityatthecomponentlevel,sothegroupengagementteamcanevaluatewhethertheperformancematerialityisappropriateforuseinthegroupaudit,or−InformthegroupengagementteamofthematerialityforthecomponentfinancialstatementsasawholeandperformancematerialityatthecomponentlevelsothegroupengagementteamcanevaluatewhetherthematerialityrepresentsanappropriatecomponentmaterialityandtheperformancematerialityatthecomponentlevelisappropriateforuseinthegroupauditEitherapproachaboveenablesthegroupengagementteamtobesatisfiedthatgroupaggregationriskisreducedtoanappropriatelylowlevelWhenthegroupengagementteamdoesnotplantousethecomponentauditor’sauditperformedbecauseofstatute,regulationorotherreason,but,nevertheless,requeststhecomponentauditortoperformanauditofthecomponent’sfinancialinformationforpurposesofthegroupaudit,thegroupengagementteamprovidesthecomponentauditorwiththecomponentmaterialityandevaluatestheappropriatenessoftheperformancematerialityatthecomponentlevelforpurposesofthegroupauditInvestmentsaccountedforundertheequitymethodWhenthegroupfinancialstatementsincludeaninvestmentaccountedforundertheequitymethod,therelatedaccountbalances(eginvestmentandthegroup’sshareofearningsfromtheinvestment)andthedisclosuresinthegroupfinancialstatementsmayconstituteacomponentforpurposesofthegroupauditThegroupengagementteammayusetheauditoftheinvestee’sfinancialstatementsasauditevidenceforthegroupauditThegroupengagementteammaydeterminethattheauditoftheinvestee’sfinancialstatementswillbeperformedusingamaterialityandperformancematerialitythat,whenconsideredwithotherauditevidencetobeobtained,isexpectedtoprovidethegroupengagementteamwithsufficientappropriateauditevidenceabouttherelevantassertionsoftheaccountbalancesanddisclosuresrelatedtotheinvestmentaccountedforundertheequitymethodThegroupengagementteammayconsideritsownershippercentage,itspercentage(share)oftheprofitsandlossesanddistr

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