slide1
Download
Skip this Video
Download Presentation
Modern Auditing: Assurance Services and the Integrity of Financial Reporting, 8 th Edition

Loading in 2 Seconds...

play fullscreen
1 / 21

Modern Auditing: Assurance Services and the Integrity of Financial Reporting, 8 th Edition - PowerPoint PPT Presentation


  • 76 Views
  • Uploaded on

Modern Auditing: Assurance Services and the Integrity of Financial Reporting, 8 th Edition. William C. Boynton California Polytechnic State University at San Luis Obispo Raymond N. Johnson Portland State University. Chapter 20 – Attest and Assurance Services, and Related Reports.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Modern Auditing: Assurance Services and the Integrity of Financial Reporting, 8 th Edition' - eudora


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide1
Modern Auditing:

Assurance Services and the Integrity of Financial Reporting, 8th Edition

William C. Boynton

California Polytechnic State University at San Luis Obispo

Raymond N. Johnson

Portland State University

Chapter 20 – Attest and Assurance Services, and Related Reports

levels of assurance
Levels of Assurance
  • Audit or Examination-level Assurance
  • Review-level Assurance
    • Negative Assurance
  • Agreed-upon Procedures
  • No Assurance
    • Accounting and Compilation Services
types of engagements
Types of Engagements
  • Statements on Auditing Standards (SAS)
  • Statements on Standards for Attestation Engagements (SSAE)
  • Statements on Standards for Accounting and Review Services (SSARS)
other sas engagements special reports
Other SAS Engagements – Special Reports
  • Other Comprehensive Bases of Accounting
  • Specified Elements, Accounts, or Items of a Financial Statement
  • Compliance Reports Related to Audited Financial Statements
study break
Study Break
  • This level of assurance intends to give the positive expression of opinion by the CPA regarding an assertion by management.
    • Audit-level assurance
    • Review-level assurance
    • Agreed-upon procedures
    • No assurance

A. Audit-level assurance

study break1
Study Break
  • This defines the services associated with the review or the compilation of financial statements of a nonpublic entity.
    • SAS
    • SSAE
    • SSARS
    • GAAS

C. SSARS

accepting and performing attest engagements
Accepting and Performing Attest Engagements
  • Attest Engagement
    • Gathers evidence
    • Objectively assesses the measurements and communication
    • Reports the findings
  • Attestation Standards
    • SSAE 1 (Figure 20-7)
    • General Standards
    • Standards of Fieldwork
    • Standards of Reporting
engagements performed under attestation standards
Engagements Performed Under Attestation Standards
  • SSAE 101 Engagements
    • CPA WebTrust
      • Business and information privacy practices
      • Transaction integrity
      • Information protection
    • CPA SysTrust
      • Availability
      • Security
      • Integrity
      • Maintainability
engagements performed under attestation standards1
Engagements Performed Under Attestation Standards
  • Agreed-upon Procedure Engagements
    • Report of Procedures and Findings
  • Reporting on Prospective Financial Information
    • Types of Prospective Financial Information
      • Financial Forecast
      • Financial Projection
    • Types of Services
      • Compilation
      • Examination
      • Application of Agreed-upon Proceures
engagements performed under attestation standards2
Engagements Performed Under Attestation Standards
  • Compliance Attestation
    • Examination Engagements
      • Nature of Compliance Requirements
      • Nature and Frequency of Noncompliance
      • Qualitative Considerations
    • Agreed-upon Procedure Engagements
      • Compliance with Specified Requirements
      • Effectiveness of Entity’s Internal Control
      • Both of the Above
accounting and review services
Accounting and Review Services
  • Nonpublic Companies
    • Review of Financial Statements
      • Review Engagement
    • Compilation of Financial Statements
      • Compilation Engagement
other assurance opportunities
Other Assurance Opportunities
  • CPA Risk Advisory
    • Business Risk Management
      • Identification and assessment of primary potential risks
      • Independent assessment of identified risks
      • Evaluate system of identification and limitation of risks
other assurance opportunities1
Other Assurance Opportunities
  • CPA Performance View
    • Performance Measurement
      • Assess whether systems a properly measuring activities
      • Evaluate employees
      • Measure actual performance against objectives
      • Identify areas providing best opportunities for improvement
other assurance opportunities2
Other Assurance Opportunities
  • CPA Eldercare
    • Attestation Engagements
    • Direct Services
    • Consulting Services
study break2
Study Break
  • All of the following are risks associated with doing business electronically, except:
    • Business and information privacy practices
    • Transaction integrity
    • Information protection
    • All of the above

D. All of the above

study break3
Study Break

4. Of the four SysTrust Principles, this one describes the system being protected against unauthorized physical and logical access.

  • Availability
  • Security
  • Integrity
  • Maintainability

B. Security

study break4
Study Break
  • This type of prospective financial information presents, to the best of the responsible party’s knowledge and belief, an entity’s expected financial position, results of operations, and cash flows.
    • Budget
    • Financial forecast
    • Financial projection
    • All of the above

B. Financial forecast

study break5
Study Break
  • This is the AICPA’s branded version of performance measure.
    • CPA Compilations
    • CPA Risk Advisory
    • CPA Performance View
    • CPA Eldercare

C. CPA Performance View

ad