Trắc nghiệm ôn kiểm toán giữa kỳ 2

TON DUC THANG UNIVERSITY ACCOUNTING FACULTY Chapter 4:
Audit evidence and audit sampling Course code: 201106 1/29/2024
201106- Audit evidence and audit sampling 1 Learning objectives
 Discuss the importance of the concepts of
appropriateness and sufficiency;
 Identify factors affecting the appropriateness and sufficiency of audit evidence;
 Understand types of audit procedures; 1/29/2024
201106- Audit evidence and audit sampling 2
Learning objectives (Cont.)  Define audit sampling;
 Identify the various means of gathering audit evidence;
 Identify factors influencing the determination of sample size;
 Understand the appropriate methods of selecting sample items. 1/29/2024
201106- Audit evidence and audit sampling 3 Contents 4.1 Audit evidence 4.2 Audit sampling 1/29/2024
201106- Audit evidence and audit sampling 4 4.1 Audit evidence Paragraph 05, VSA 500 a. Definition of
• Information used by the auditor in arriving Audit evidence
at the conclusions on which the auditor’s opinion is based.
• Include both information contained in the accounting records underlying the financial statements and other information.
201106- Audit evidence and audit sampling 1/29/2024 5 4.1 Audit evidence
a. Definition of audit evidence Accounting records: Information Other information: - accounting entries Independent sources - supporting records of an entity 1/29/2024
201106- Audit evidence and audit sampling 6 4.1 Audit evidence
Audit evidence includes:  Internal documents:  Sales contracts  Lease agreements  Sales invoices  Purchase orders
 Depreciation and amortization schedules…  External documents:
 Confirmation statements from banks
 Confirmation replies from customers  Customer orders… 1/29/2024
201106- Audit evidence and audit sampling 7 4.1 Audit evidence b. Requirements for audit evidence
 Appropriateness (Quality): • Relevance • Reliability
 Sufficiency (Quantity): • Risk of misstatements • Quality of audit evidence
Auditor should obtain sufficient appropriate audit evidence
to be able to draw reasonable conclusions on which to base
audit opinion. (Paragraph 06, VSA 500). 1/29/2024
201106- Audit evidence and audit sampling 8 4.1 Audit evidence Appropriateness • Relevant • Reliable 1/29/2024
201106- Audit evidence and audit sampling 9 4.1 Audit evidence Appropriateness
• Relevant to financial statement assertions
 Ex: Inspection of Equipment  Existence of equipment
 NOT VALUATION ASSERTION OF EQUIPEMENT 1/29/2024
201106- Audit evidence and audit sampling 10 4.1 Audit evidence Appropriateness
 Relevant to direction of testing
Testing for existence - Vouching Source Document Subsidiary Ledger/ General Ledger
Testing for completeness - Tracing Subsidiary Ledger/ Source Document General Ledger 1/29/2024
201106- Audit evidence and audit sampling 11 4.1 Audit evidence Appropriateness • Reliable:
 external, independent sources more reliable than internal
 if internal, more reliable if related controls are effective
 evidence obtained directly by auditor more reliable
 documentary evidence more reliable than oral representation
 original documents more reliable than photocopies 1/29/2024
201106- Audit evidence and audit sampling 12 4.1 Audit evidence Sufficiency • Risk of misstatements • Quality of audit evidence 1/29/2024
201106- Audit evidence and audit sampling 13 4.1 Audit evidence c. Audit assertions
Audit assertions are properties of:  An account balance,  A set of transactions,  A disclosure in the FS,
 that must be true, for the account
balance, transaction or disclosure to be correctly stated 1/29/2024
201106- Audit evidence and audit sampling 14 4.1 Audit evidence c. Audit assertions
• ABOUT ACCOUNT BALANCES AT THE PERIOD END
• Existence - Assets, liabilities and equity interests exist.
• Rights and Obligation – The entity
holds or controls the rights to assets, and
liabilities are the obligations of the entity. 1/29/2024
201106- Audit evidence and audit sampling 15 4.1 Audit evidence c. Audit assertions
• ABOUT ACCOUNT BALANCES AT THE PERIOD END
• Completeness – all assets, liabilities
and equity interests that should have been recorded have been recorded..
• Valuation and Allocation – assets,
liabilities and equity interests are included
in the FS at appropriate amounts and any
resulting valuation or allocation adjustments are appropriately recorded.. 1/29/2024
201106- Audit evidence and audit sampling 16 4.1 Audit evidence c. Audit assertions
• ABOUT CLASSES OF TRANSACTIONS AND EVENTS
• Occurrence - the transactions and
events that have been recorded have
occurred and pertain to the entity.
• Completeness - all transactions and
events that should have been recorded have been recorded. 1/29/2024
201106- Audit evidence and audit sampling 17 4.1 Audit evidence c. Audit assertions
• ABOUT CLASSES OF TRANSACTIONS AND EVENTS
• Accuracy – amounts and other data
relating to recorded transactions and events
have been recorded appropriately.
• Cutoff – transactions and events have
been recorded in the proper accounts.
• Classification – transactions and events
have been recorded in the proper accounts. 1/29/2024
201106- Audit evidence and audit sampling 18 4.1 Audit evidence c. Audit assertions
• ABOUT PRESENTATION AND DISCLOSURE • Occurrence • Rights & Obligations • Completeness
• Classification and Understandability. • Accuracy & Valuation. 1/29/2024
201106- Audit evidence and audit sampling 19 4.1 Audit evidence c. Audit assertions
• ABOUT PRESENTATION AND DISCLOSURE • Occurrence • Rights & Obligations • Completeness
• Classification and Understandability. • Accuracy & Valuation. 1/29/2024
201106- Audit evidence and audit sampling 20