Along with the rapid development of science and technology today, the world economy is step by step going up strongly. Along with that development, Vietnams economy also has positive changes. An inevitable requirement is that businesses must disclose their financial position to create confidence for investors and take advantage of economic resources. Auditing, as a tool to check and control economic activities, has demonstrated its function in verifying the truthfulness and accuracy of financial information. In the financial statement audit process, information about revenue from sales of merchandises and services rendered particularly concerned about sales and service provision that contain many possible fraud risks and errors. Because of the importance of the revenue portion in the audit of financial statements, I chose the topic, “Completing the audit of revenue from sales of merchandises and services rendered in auditing financial statements at Branch Auditing and Informatics Services Company Limited in Da Nang (AISC)“ doing the research topic and write the graduation thesis.
DUY TAN UNIVERSITY INTERNATIONAL SCHOOL UNDERGRADUATE THESIS COMPLETING THE AUDIT OF THE ITEM REVENUE FROM SALES OF MERCHANDISES AND SERVIECS RENDERED IN THE FINANCIAL STATEMENT AUDIT AT BRANCH AUDITING AND INFORMATICS SERVICES COMPANY LIMITED IN DA NANG (AISC) @ MENTOR : Ph.D PHAN THANH HAI STUDENT : HUYNH THI ANH NGUYET CLASS : K23PSUKKT1 ID : 2320257535 Da Nang, May 2021 ACKNOWLEDGEMENT First, I would like to thanks sincerely to the teachers of International School in Duy Tan University who help me to quip the necessary knowledge and convenient environment in time learning as well as time of graduation thesis I would like to express my gratitude to my supervisor, MBA Nguyen Thi Kim Huong who was helped me from the select topics to gudie the way, content to all Thanks to her support, so I could complete thesis on time stipulated I would also like to thanks all employees of the Branch Auditing and Informatics Services Company Limited in Danang Especially, the auditors of financial statement audit department who has directly guided, created an opportunity for me to be practiced in the company, provides information and data relevant to research topic, help me have more knowledge throughout practices process Because knowledge and practice time in the company limited, the thesis can not avoid these shortcomings I hope to receive comments and critics of teachers and brothers, sisters in the company to improve my thesis Last, I wish teacher and all employees of the Branch Auditing and Informatics Services Company Limited in Danang (AISC) good health, success in work I sincerely thanks you! TABLE OF CONTENTS ABSTRACT INTRODUCTION CHAPTER THEORETICAL BASIS FOR THE AUDIT OF REVENUE FROM SALES OF MERCHANDISES AND SERVICES RENDERED ITEM IN AUDITING FINANCIAL STATEMENTS UNDER THE SAMPLE AUDIT PROVIDED BY VACPA 1.1 BASIC ISSUES RELATED TO REVENUE FROM SALES OF MERCHANDISES AND SERVICES 1.1.1 General overview of the revenue from sales of merchandises and services rendered item 1.2 REVENUE FROM SALES OF MERCHANDISES AND SERVICES RENDERED ON AUDITING FINANCIAL STATEMENTS 1.2.1 Internals control for revenue from sales of merchandises and services rendered audits 1.2.2 Common risks and mistakes when auditing Revenue from sales of merchandises and services rendered 1.3 CURRENTLY AUDITING THE REVENUE FROM SALES OF MERCHANDISES AND SERVICES RENDERED PROGRAM UNDER VACPA SAMPLE AUDIT PROGRAM 10 1.3.1 Profile index 10 1.3.2 Audits content of Revenue from sales of merchandises and services rendered item 10 CHƯƠNG AUDITING SITUATION OF REVENUE FROM SALES OF MERCHANDISES AND SERVICES RENDERED ITEM IN AUDITING FINANCIAL STATEMENTS PERFORMED BY BRANCH AUDITING AND INFORMATICS SERVICES COMPANY LIMITED IN DA NANG 26 2.1 OVERVIEW OF BRANCH AUDITING AND INFORMATICS SERVICES COMPANY LIMITED IN DA NANG 26 2.1.1 Introduction about Branch Auditing and Informatics Services Company Limited in Da Nang 26 2.1.2 The formation and development process of Branch Auditing and Informatics26 2.1.3 Operational objective, strategic vision of the company .27 2.1.4 Types of services provided by the company: .28 2.1.5 Organization structure of AISC 34 2.2 STATUS OF AUDITING ON REVENUE FROM SALES OF .36 MERCHANDISES AND SERVICES RENDERED IN THE AUDITING OF FINANCIAL STATEMENTS PERFORMED BY BRANCH AUDITING AND INFORMATICS SERVICES COMPANY LIMITED IN DA NANG 36 2.2.1 Audit planning phase 36 2.2.2 Audit implementation phase 42 2.2.3 The end of the audit period 59 CHAPTER SOLUTIONS FOR COMPLETING THE AUDIT PROCESS FOR REVENUE FROM SALES OF MERCHANDISES AND SERVICES RENDERED IN AUDITING FINANCIAL STATEMENTS AT BRANCH AUDITING AND INFORMATICS SERVICES COMPANY LIMITED IN DA NANG .65 3.1 COMMENTS ON AUDITING PROCESS ON REVENUE FROM SALES OF MERCHANDISES AND SERVICES RENDERED ITEMS AT X JOINT STOCK COMPANY BY BRANCH AUDITING AND INFORMATICS SERVICES COMPANY LIMITED IN DA NANG 65 3.1.1 General comment 65 3.1.2 Advantages 65 3.1.3 Disadvantages 67 3.2 SOLUTIONS TO COMPLETE THE AUDITING PROCESS ON REVENUE FROM SALES OF MERCHANDISES AND SERVICES RENDERED BY BRANCH AUDITING AND INFORMATICS SERVICES COMPANY LIMITED IN DA NANG 68 3.2.1 Audit planning phase 68 3.2.2 Audit implementation phase 71 3.2.3 End of the audit period: 74 3.3 SOME RECOMMENDATIONS FOR BRANCH AUDITING AND INFORMATICS SERVICES COMPANY LIMITED IN DA NANG 74 CONCLUDE 76 LIST OF REFERENCES LIST OF ABBREVIATIONS AISC Branch Auditing snd Informatics Services Company Limited in Da Nang VACPA Vietnam Association of Certified Public Accounts LIST OF TABLES Table Trang Table 2.1 Description of the process of selling and providing services 38 Table 2.2 Determine materiality 42 Table 3.1 Evaluate the internal control system for revenue from sales of 70 merchandises and services rendered item LIST OF FIGURES Diagram Trang Figure 2.1 Organizational Structure of AISC 34 Figure 2.2 Organizational Structure of AISC-Da Nang Branch 34 ABSTRACT The topic of thesis focuses on revenue from sales of merchandises and services rendered audit at Branch Auditing snd Informatics Services Company Limited in Da Nang (AISC) In the financial statement audit process, revenue from sales of merchandises and services rendered is a very important item which can have many errors That is the reason why the auditing revenue from sales of merchandises and services rendered become complex and time- consumed Not only using the detail steps are described in the auditing revenue from sales of merchandises and services rendered at AISC, the thesis also focuses on some other steps to build a perfect inventory auditing process for the company Thesis consists of three chapters: Chapter 1: Theoretical basis for the audit of revenue from sales of merchandises and services rendered item in auditing financial statements under the sample audit provided by VACPA This chapter focused on the following issues: learn about revenue from sales of merchandises and services rendered item, process audit item of revenue from sales of merchandises and services rendered in the audit of financial statements Chapter 2: Auditing situation of revenue from sales of merchandises and services rendered item in auditing financial statements performed by Branch Auditing and Informatics Services Company Limited in Da Nang Research the following issues: Learn about by Branch Auditing and Informatics Services Company Limited in Danang, process revenue from sales of merchandises and services rendered audit in financial statement performed by the company Chapter 3: Some recommendations for Branch Auditing and Informatics Services Company Limited in Da Nang Although the process revenue from sales of merchandises and services rendered audit have many advantages, there also have many disadvantages Therefore, I would like to make some suggestions for AISC to complete process revenue from sales of merchandises and services rendered audit in the financial statement audit INTRODUCTION 1.Reasons for choosing a research topic Along with the rapid development of science and technology today, the world economy is step by step going up strongly Along with that development, Vietnam's economy also has positive changes An inevitable requirement is that businesses must disclose their financial position to create confidence for investors and take advantage of economic resources Auditing, as a tool to check and control economic activities, has demonstrated its function in verifying the truthfulness and accuracy of financial information In the financial statement audit process, information about revenue from sales of merchandises and services rendered particularly concerned about sales and service provision that contain many possible fraud risks and errors Because of the importance of the revenue portion in the audit of financial statements, I chose the topic, “Completing the audit of revenue from sales of merchandises and services rendered in auditing financial statements at Branch Auditing and Informatics Services Company Limited in Da Nang (AISC)“ doing the research topic and write the graduation thesis 2.Research Objectives - From research to find out the general theoretical basis as a basis for the implementation of the process revenue from sales of merchandises and services rendered audit - To actually experience the process of implementing the revenue from sales of merchandises and services rendered from there as a basis, lessons, and experience in the implementation of other items during the complete audit - Thereby, I can draw lessons, learn from experience, skills, draw advantages and disadvantages, propose some solutions to help improve the process of revenue from sales of merchandises and services rendered audit Research methods During the study of thesis use methods such as: Data collection method Gathering documents, sample processes and related records to revenue from sales of merchandises and services rendered audit process in financial statement auditing at Branch Auditing and Informatics Services Company in Danang Collect data from records, economic magazine related to inventory at X Company Directly participate the auditing team of Branch Auditing and Informatics Service Co., Ltd in Danang Collected working papers and auditing reports audited by the auditors of Branch Auditing and Informatics Service Co., Ltd in Danang for checking inventory items at XYZ company Data processing method Using Microsoft Excel to calculate, process and analyze customer accounts data after collection Repeat the audit procedures that the auditor has conducted to understand and grasp specific methods and procedures Interviewing method: collect the necessary information through interviews with employees at the client company or discuss with the auditor about the issue 4.Structures of the study Theses consist of three chapters: