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Formulating Finding Pertemuan 09. Matakuliah: PSYCHOLOGY PEMERIKSAAN Tahun: 2009. Formulating Finding. Session 09. Learning Objectives. Understanding about term of “finding” Understanding about iceberg problems Understanding about the characteristics of a competent evidence

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Formulating Finding Pertemuan 09

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Formulating finding pertemuan 09

Formulating Finding Pertemuan 09

Matakuliah: PSYCHOLOGY PEMERIKSAAN

Tahun: 2009


Formulating finding

Formulating Finding

Session 09


Learning objectives

Learning Objectives

  • Understanding about term of “finding”

  • Understanding about iceberg problems

  • Understanding about the characteristics of a competent evidence

  • Understanding about types of evidence

  • Understanding about the nature of deficiency findings

  • Understanding about the elements of deficiency finding

  • Understanding about the characteristics of a good finding


What is finding 1

What is finding ? (1)

  • Finding is a specific condition detected by auditors during the process of audit.

  • “Deficiency findings describe condition or actions that are not what they should be – including systems that do not achieve desired objectives.”

  • “Deficiency findings also include actions that were taken improperly, action that should have been taken but were not, and action that should not have been taken but were”

  • “In short, deficiency findings are deviation from expected norms or established standards.”

    (Sawyer and Sumners)


What is finding 2

What is finding ? (2)

  • Deficiency finding can be any deviation from rules, regulation, standards, or other criteria, and improper actions or no action that can bring about the company’s loss.

  • The problem detected should be having negative effect materially on the company’s finance and operation.


Beware of iceberg problem

Beware of Iceberg Problem

  • What we find small and insignificant on the surface can be huge and materially significant underneath.

  • Do not be trapped in a symptom, but do have to find the real cause of the problem.


The characteristics of competent evidence

The Characteristics of Competent Evidence

  • Relevance

  • Independence of Provider

  • Effectiveness of Client’s IC

  • Auditor’s Direct Knowledge

  • Qualification of Individual Providing the Information

  • Degree of Objectivity

  • Timeliness


Types of evidence

Types of Evidence

  • Physical Examination

  • Confirmation

  • Documentation

  • Analytical Procedures

  • Inquires of the Client

  • Reperformance

  • Observation


The nature of deficiency finding

The Nature of Deficiency Finding

  • Transactions which cause large and tangible losses

  • Weakness in either systems or controls where losses cannot be explicitly shown but the possible of loss exist as they are usually continuing,

  • Weak controls can represent a greater risk to enterprise – even though specific dollar loss cannot be demonstrated.

    (Sawyer and Sumners)


Elements of deficiency finding

Elements of Deficiency Finding

  • Standards – what the operation is supposed to accomplish

  • Condition – what the operation is actually accomplish

  • Procedures or practices – what people are supposed to do or what they are actually doing

  • Cause – why the deviation from standard is occurring

  • Effect – what is happening or could happen because conditions do not meet standards

  • Conclusion – what need to be corrected

  • Recommendation – how correction might be made.

    (Sawyer and Sumners)


Elements of deficiency finding1

Elements of Deficiency Finding

  • Condition – what the operation is actually accomplish

  • Standards/Criteria – what the operation is supposed to accomplish

  • Cause – why the deviation from standard is occurring

  • Effect – what is happening or could happen because conditions do not meet standards

  • Recommendation – how correction might be made.

    (BPKP)


The characteristics of a good finding

The characteristics of a good finding

  • Significant enough to deserve being reported to management

  • Documented by facts, no opinions, and by evidence that is sufficient, competent, and relevant

  • Objectively developed without bias or preconceived ideas

  • Relevant to the issue involved

  • Convincing enough, so that conclusions are reasonable, logical, and based on the facts presented.


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