Tài liệu Guide to Using International Standards on Auditing in the Audits of Small- and Medium- sized Entities pptx

[...]... divided into three phases – risk assessment, risk response and reporting The following chart illustrates the nature of each phase and the interrelationships between the activities and phases 13 GUIDE TO USING INTERNATIONAL STANDARDS ON AUDITING IN THE AUDITS OF SMALL- AND MEDIUM -SIZED ENTITIES A Road Map to the Guide The following chart provides a “road map” to the Guide setting out the phases of the audit... where the national standards differ from the ISAs (whether for legislative or other reasons), this Guide should be a starting point and adapted for the national requirements 5 GUIDE TO USING INTERNATIONAL STANDARDS ON AUDITING IN THE AUDITS OF SMALL- AND MEDIUM -SIZED ENTITIES Content and Organization The material in the Guide follows the activities outlined in the audit process chart found later in this... Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements.” 7 GUIDE TO USING INTERNATIONAL STANDARDS ON AUDITING IN THE AUDITS OF SMALL- AND MEDIUM -SIZED ENTITIES • Case Study To demonstrate how the ISAs can be applied in practice, the Guide includes a simple case study with commentary at the end of most chapters to show the practical application of the principles... Committee to assist practitioners on the audit of small- and medium -sized entities (SMEs) and to promote consistent application of the International Standards on Auditing (ISAs) The Guide, while developed by the Canadian Institute of Chartered Accountants (the CICA), is the full responsibility of the IFAC SMP Committee International Auditing and Assurance Standards Board (IAASB) staff and a global advisory... checks on customers He knows most of them Customers used to pay cash upon delivery but credit is granted today to match the terms that their competitors are providing As a result, Dephta Furniture requires a line of credit from the bank Each year, the number of bad debts seems to be growing 19 GUIDE TO USING INTERNATIONAL STANDARDS ON AUDITING IN THE AUDITS OF SMALL- AND MEDIUM -SIZED ENTITIES – – At the. .. involved in each particular audit IFAC disclaims any responsibility or liability that may occur, directly or indirectly, as a consequence of the use and application of this Guide 3 GUIDE TO USING INTERNATIONAL STANDARDS ON AUDITING IN THE AUDITS OF SMALL- AND MEDIUM -SIZED ENTITIES This page is intentionally left blank 4 How to Use the Guide The purpose of this Guide is to provide practical guidance to practitioners... http://www.ifac.org/IAASB/ProjectHistory.php?ProjID=0024 Disclaimer This Guide is designed to assist practitioners in the implementation of the International Standards of Auditing (ISAs) on the audit of small- and medium -sized entities, but is not intended to be a substitute for the ISAs themselves Furthermore, a practitioner should utilize this Guide in light of his or her professional judgment and the facts and circumstances involved... Assurance Standards Board IC Internal Control The five major components of internal control are as follows: CA = Control activities CE = Control environment IS = Information systems MO = Monitoring RA = Risk assessment IFAC International Federation of Accountants IFAC Code IFAC Code of Ethics for Professional Accountants IFRS International Financial Reporting Standards ISAs International Standards on Auditing. .. Auditing ISAEs International Standards on Assurance Engagements IAPSs International Auditing Practice Statements ISQCs International Standards on Quality Control 8 HOW TO USE THE GUIDE ISREs ISRSs IT PC R&D RMM RAPs SME SMP TOC TCWG International Standards on Review Engagements International Standards on Related Services Information technology Personal computer Research and development Risks of material... ensuring that the entity achieves its objectives, financial reporting and reporting to interested parties Those charged with governance include management only when it performs such functions The respective 9 GUIDE TO USING INTERNATIONAL STANDARDS ON AUDITING IN THE AUDITS OF SMALL- AND MEDIUM -SIZED ENTITIES responsibilities of management and those charged with governance may vary depending on the legal