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AUD > A3&A4 > Flashcards

A3&A4 Flashcards

1
Q

Walkthrough procedures performed in an issuer’s integrated audit

A

Inquiring
Observation
Inspection of relevant documentation
Reperformance of controls

@12576

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2
Q

Substantial testing is an audit procedure designed to

A

Detective material misstatement

@16434

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3
Q

Material account balance, such as A/R or inventory 通常 tested 安排在 ________，只要確認該 account 可以被 ___________.

A

Interim date
Reasonably predictable

@3037

Substantive testing
之 Test of detail

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4
Q

Auditor’s direct personal knowledge evidence

A

Observation
Physical examination
Inspection
Recalculation

@7666

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5
Q

Evidence reliability 分成 3 等級

A
  1. Auditor’s personal knowledge
  2. External evidence (Confirmation)
    Direct to auditor
    Received and held by client
  3. Oral (Inquiry) @4746

@7666

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6
Q

Audit evidence 功能分為

A
  1. Reliability
    ➡️ Quality
    (accuracy, completeness, authenticity and susceptibility to management bias)
  2. Sufficiently
    ➡️ Amount of corroborative evidence obtained

@15946

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7
Q

Analytical procedure is required in _________ & ________,
is not required in ________

A

Required:
Planning & Final review

Not required
Substantial test
(但是 more effective and efficient than test of details)

@2375

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8
Q

Bill of landing

Vendor’s invoice

Approved purchase order

Material requisition

Open voucher

A

貨運公司的帳單

賣方出的發票

批准的採購單

材料申請單（生產部門、內部文件）

@3197

尚未支付的憑證

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9
Q

Recordkeepimg 跟 __________ function 要分開

A

Custody

@7160

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10
Q

Inventory:
Test counts and trace to inventory listing, 是 assertion of

A

Completeness

@2690

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11
Q

Inventory:
Sample of inventory + physical listing and tracing to the floor (counts) 確認存貨在手，為assertion of

A

Existence

@2690

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12
Q

Reviewing shipping and receiving cutoff procedures for inventory provide assertion of

A

Completeness
&
Existence

@2459

Completeness
&
Rights & Obligation

@4704

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13
Q

Confirming inventory at location outside the entity’s premises provides assertion of

A

Completeness
&
Existence

@4704

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14
Q

Record trace to source is assertion of

A

Existence

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15
Q

Source trace to record is assertion of

A

Completeness

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16
Q

Upper deviation rate =

A

Allowance sample deviation rate
➕
Actual sample deviation rate

@2877

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17
Q

Audit risk 🟰

A

Inherent risk
➕
Control risk
➕
Detection risk

IR ➕CR🟰RMM

18
Q

Reviewing shipping and receiving cutoff procedures for inventories provide assurance about

A

Completeness
&
Existence
of inventory

@2459

19
Q

Internal control material weakness is a significant deficiency that results ________ possibility that a ________ misstatement of the entity’s F/S will not be prevent, detected or corrected on a timely basis.

A

Reasonable possibility
Material misstatement

@5387
@3079

20
Q

Auditors is required to communicate s_____t deficiencies each year, 不論 deficiency has material effect on the auditor’s assessment of control risk or deficiency is considered a m______l weakness

A

Significant deficiency (in writing)
不管是否 Material weakness

Material weakness 一定是 Significant deficiency
但 Significant deficiency 不一定為 Material weakness

@3099

Significant deficiency communication only within the client’s entity (restricted)

@2558

21
Q

Hiring personnel v.s. Distributing payroll checks 要分開，是為了要把各自的 _________ function 分開

A

Hiring: Authorization
Pay check: Custody

@9891

22
Q

Those in charger with governance 是由哪兩個部門組成

A

Board of directors
&
Audit committee

@10239

23
Q

About client’s internal control at audit planning stage 有哪三項關於 Obtain understanding of internal control

A

✅了解client’s 對內控的
Design & Implementation
✅Identify 潛在的 misstatements
✅Documentation

@10249

另外關於 operating effectiveness 是在之後才 evaluate

@2898

24
Q

The risk of incorrect ________ & the likelihood of assessing control risk too ________ relate to 🔑effectiveness of the AUDIT

A

Acceptance
&
Low

@2592

25
Q

The risk of incorrect ________ & the likelihood of assessing control risk too ________ relate to 🔑efficiency of the audit

A

Rejection
&
High

@2592

26
Q

Directional test of details involves tracing _______ from source documents or vouching _______ to the source documents.

A

forward
&
backward

@7672

27
Q

Analytical procedure 適用於 ________
的交易，而不適用於 ___________的交易

A

適用於：
Predictable

不適用於：
Subject to management discretion
ex. Property & equipment transaction

@2400

28
Q

For testing at ACCOUNT level for issuers, the auditor should compare ________ misstatement to the adjustment amount to determine whether an account balance is materially misstated.

A

Tolerable

(不是 overall materiality)

@4723

29
Q

When determining the sample size for a test of controls, the auditor should consider 三項

A

Expected deviation rate
Tolerable deviation rate
Allowable risk of assessing control risk too low

@2870

30
Q

The risk of incorrect acceptance
&
The risk of incorrect rejection

are considered in 什麼測試？

A

Direct test of balance (substantive tests)

@2870

31
Q

The _______ deviation rate is used to evaluate a balance after a sampling plan has been performed.

A

Upper

@2870

32
Q

Risk of incorrect acceptance
可以解釋為

A

對 ”容許” 錯誤接受的風險
越高造代表容忍度越高
進而造成 sample size 減少

@2581

33
Q

Significant deficiency & material weakness is required to be reported in WRITING to 二種階級, by the report release date or extending 60 days

A

Management
&
Those charged with governance

@3731

34
Q

Test of control 是用 _______ sampling
Substantive procedure 是用 ________ sampling

A

✅ Test of control
Attribute sampling 屬性抽樣
控制是否運行正常

✅ Substantive procedure
Variable sampling 變性抽樣
金額是否正確
可搭配 Stratify sampling or Ratio estimation

PPS sampling
Probability Proportional to Size sampling

@7163

35
Q

影響 auditor 決定是否在 Substantial test 使用 Analytical procedure based on

A

Predictable and plausible data relationship
Reliable & available if data used to develop the expectation
Precision of the expectation @5714

36
Q

Verification of documentary evidence is 哪個程序

A

Test of detail

@5714

ex. Verifying depreciation computation provide valuation, allocation & accuracy assertion
@2464

37
Q

In order to obtain a reasonable basis for an audit opinion, the evidence should be

A

Persuasive

@7698

38
Q

Analytical procedure 關鍵字

A

Comparison
or
Convention

Financial information or data

@7154

39
Q

The method used to evaluate the reasonableness of accounting estimate

A

Reviewing subsequent events
Developing an independent expectation
Reviewing & testing the process used to develop the estimate

@2713

40
Q

Issuer substantial doubt ability 但有 dicsclosure
Auditor 可以給的 opinion

A

Unqualified + Explanatory paragraph
or
Disclaim

@2992

41
Q

Regression analysis 是

A

Predictive analytics

Base on historical data to predict outcome

@14559

AUD (5 decks)

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