Flood Joanne M.

Wiley Practitioner's Guide to GAAS 2017

Скачать книгу

assessment, information and communication, or monitoring), will be sufficient to address a risk. For this reason, when determining whether identified controls are likely to prevent or detect and correct material misstatements, the auditor generally considers controls in relation to significant transactions and accounting processes (for example, sales, cash receipts, or payroll), rather than ledger accounts.

      Конец ознакомительного фрагмента.

      Текст предоставлен ООО «ЛитРес».

      Прочитайте эту книгу целиком, купив полную легальную версию на ЛитРес.

      Безопасно оплатить книгу можно банковской картой Visa, MasterCard, Maestro, со счета мобильного телефона, с платежного терминала, в салоне МТС или Связной, через PayPal, WebMoney, Яндекс.Деньги, QIWI Кошелек, бонусными картами или другим удобным Вам способом.

      1

      See Definitions of Terms.

      2

      Section 201 of the Sarbanes-Oxley Act of 2002 and the related SEC implementing rules created significant new independence requirements for auditors of public companies. For example, the SEC prohibits certain nonaudit services such as bookkeeping, internal audit outsourcing, and valuation services. All audit and nonaudit services performed by the auditor, including tax services, must be preapproved by the company's audit committee. In March 2003, the SEC issued final rules implementing Section 201 of the Act. The rules, Strengthening the Commission's Requirements Regarding Auditor Independence, can be found at www.sec.gov/rules/final/33-8183.htm.

      3

      Generally accepted auditing standards are issued in the form of Statements on Auditing Standards and codified into AU-C sections in the AICPA's Professional Standards.

      4

      Acceptable reporting frameworks contain established accounting principles promulgated by a body designated by the Council of the AICPA under Rule 203 in the AICPA Code of Professional Conduct. These bodies include FASB, FASAB, IFRS, GASB, AICPA, and PCAOB.

      5

      In this chapter, references to management should be read as “management and, when appropriate, those charged with governance,” unless the context suggests otherwise. Those charged with governance are those “with responsibility for overseeing the strategic direc

1

See Definitions of Terms.

2

Section 201 of the Sarbanes-Oxley Act of 2002 and the related SEC implementing rules created significant new independence requirements for auditors of public companies. For example, the SEC prohibits certain nonaudit services such as bookkeeping, internal audit outsourcing, and valuation services. All audit and nonaudit services performed by the auditor, including tax services, must be preapproved by the company's audit committee. In March 2003, the SEC issued final rules implementing Section 201 of the Act. The rules, Strengthening the Commission's Requirements Regarding Auditor Independence, can be found at www.sec.gov/rules/final/33-8183.htm.

3

Generally accepted auditing standards are issued in the form of Statements on Auditing Standards and codified into AU-C sections in the AICPA's Professional Standards.

4

Acceptable reporting frameworks contain established accounting principles promulgated by a body designated by the Council of the AICPA under Rule 203 in the AICPA Code of Professional Conduct. These bodies include FASB, FASAB, IFRS, GASB, AICPA, and PCAOB.

5

In this chapter, references to management should be read as “management and, when appropriate, those charged with governance,” unless the context suggests otherwise. Those charged with governance are those “with responsibility for overseeing the strategic direction of the entity and obligations related to the accountability of the entity,” including the financial reporting process. (AU-C Glossary of Terms)

6

This paragraph was added by SAS No. 128.

7

Section 201 of the Sarbanes-Oxley Act of 2002 and the related SEC implementing rules contain significant independence requirements for auditors of public companies. For example, the SEC prohibits certain nonaudit services such as bookkeeping, internal audit outsourcing, and valuation services. All audit and nonaudit services performed by the auditor, including tax services, must be preapproved by the company's audit committee. In March 2003, the SEC issued final rules implementing Section 201 of the Act. The rules, Strengthening the Commission's Requirements Regarding Auditor Independence, can be found at www.sec.gov/rules/final/33-8183.htm.

8

See “Definitions of Terms” section.

9

Fraud that involves senior management or fraud that causes a material misstatement of the financial statements should be reported directly to those charged with governance.

10

Management incentive plans may be contingent upon achieving targets relating only to certain accounts or selected activities of the entity, even though the related accounts or activities may not be material to the entity as a whole.

Скачать книгу