Решение задач по аудиту ACCA F8 Pilot Paper Q1 Westra

Я начинаю свою практическую подготовку с Pilot Paper.

Задание и ответы можно скачать здесь http://www.accaglobal.com/content/dam/acca/global/PDF-students/2012b/pilotQA.pdf.

Мой разбор заданий и техника решения будет ниже.

Первое задание Westra представляет собой сценарий и "стоит" 30 марок. Это означает, что на его выполнение на экзамене отводится 54 минуты (30*1,8). Рекомендуется потратить время на чтение 15 минут на разбор первого задания, так как сценарий весьма объемный, а количество марок 30.

Часть а) требует перечислить аудиторские процедуры для подтверждения полноты (completeness), возникновения (occurence) и правильного временного периода (cut-off) для покупок и объяснить цель такой процедуры. Задание стоит 12 марок и должно занять не более 21 минуты на выполнение. 6 марок за процедуру и 6 марок за объяснение цели. Лучше использовать формат таблицы для ответа на это задание.
В технической статье от 01.11.2012 указаны требования к написанию аудиторских процедур. Каждая процедура должна включать в себя:
1. тестируемое утверждение (assertion)
2. аудиторскую процедуру
3. основание для процедуры

Выглядеть каждая аудиторская процедура должна вот так:

The auditor will agree a sample of items from the inventory sheets to the raw material inventory1 to ensure that the inventory recorded on the sheets actually exists2. 
This will confirm the assertion of existence of inventory as an asset in the financial statements3.
(1 = the audit procedure; 2 = the reason for the audit procedure; 3 = the assertion).

Question 1 Part a)

Substantive audit procedures for purchases

Completeness

Obtain a sample of list of parts documents from thecomputer. Trace individual parts to the goods received note (GRN).		Checks the completeness of recording of liabilities.
For a sample of GRNs from the goods inwards department, trace to the invoice held in the accounts department.		Ensures the completeness of recording of liabilities. GRNs with no matching invoice indicate a liability has been incurred. Unmatched GRNs should be included in the payables accrual.

occurence

Obtain a sample of GRNs. Agree details to the list of parts document on the computer.		Ensures that the parts received had been ordered by Westra, giving evidence for the occurrence assertion.
For a sample of entries from the payables ledger, agree details back to the purchase invoice.		Ensures that the liability does belong to Westra, meeting the occurrence assertion.

cut-off

For entries in the list of parts where no GRN number has been entered, enquire with goods inwards staff why there is no GRN. Document reasons obtained.		Checks that goods have not been received but details not recorded. Possible cut-off error where goods have been received but GRN not raised.
For a sample of GRNs in the week pre- and post- year-end, trace to the supporting invoice and entry in the payables ledger, ensuring recorded in the correct accounting year.		Confirms the accuracy of cut-off in the financial statements.

Часть b) требует перечислить аудиторские процедуры для подтверждения полноты (completeness), возникновения (occurence) и правильного временного периода (cut-off) для расчетов с поставщиками и объяснить цель такой процедуры. Задание стоит 8 марок и должно занять не более 14 минут на выполнение. 4 марки за процедуру и 4 марки за объяснение цели. Лучше использовать формат таблицы для ответа на это задание.

Question 1 Part b)

Substantive audit procedures for payables
Completeness

Obtain a list of payables balances from the computerised payables ledger as at Westra’s year end. Cast the list.		To ensure that the list is accurate and that the total is represented by the individual balances (completeness assertion).
Perform analytical procedures on the list of payables. Determine reasons for any unusual changes in the total balance or individual payables in the list.		Provides initial indication of the accuracy and completeness of the list of payables.

occurence

Agree the total of payables to the general ledger and financial statements.		To confirm that the total has been accurately recorded and that the balance in the financial statements is represented by valid payables (occurrence assertion).
For a sample of payables on the list, agree to supplier statements at the year-end.		Confirms that the payables balance is due from Westra, meeting the occurrence assertion.

cut-off

For invoices on the statements not in the ledger, agree to invoices entered after the year-end. Check the date of goods receipt per the GRN attached to the invoice. Where goods received pre-year end agree invoice to the payables accrual.

Ensures that all liabilities were recorded at the year end, meeting the completeness and cut-off assertions.

Часть с) требует описать процедуры контроля для файла данных по учету поставщиков в компьютерной системе Westra, которая была написана внутри компании на заказ. Задание стоит 5 марок и должно занять не более 9 минут на выполнение. 1 марка за процедуру контроля и ее описание.

Question 1 Part c)

Controls over standing data

- amendment
Any amendment (addition, amendment or deletion) to the payables ledger should be authorised by a responsible official, for example, the chief accountant.

- reject deletion
The computer should reject deletion of a supplier account where there is an outstanding balance (debit or credit).

- review the list of suppliers
The chief accountant should review the list of suppliers on a regular basis (perhaps every four to six months) and delete those which are no longer used.

- new authorised suppliers amendment
A comparison should be made regularly (perhaps every month) between the authorised list of suppliers on the computerised list of suppliers and the payables ledger. Any new supplier on the list of suppliers should be added to the payables ledger 

in preparation for payment. 

- printed secure list of suppliers

A list of suppliers should be printed out occasionally (about every three months) and kept in a secure location in the chief accountant’s office. The chief accountant should then compare this list with the computerised list in three months time 

and account for any unauthorised additions.

Часть d) предлагает подискутировать какое аудиторское программное обеспечение может быть использовано для аудита покупок и расчетов с поставщиками Westra. Задание стоит 5 марок и должно занять не более 9 минут на выполнение. 1 марка за направление использования ПО и его описание, положительные и отрицательные возможные результаты.

Question 1 Part d)

Controls over standing data

- identify old/obsolete balances
Audit software may be used to identify old/obsolete balances in some of Westra’s systems eg outstanding deliveries and payments not being made to suppliers. However, the usefulness of the testing is limited and it is possible that the computer system already provides similar controls.
- online payments system 
Test data input by the auditor would be useful in checking the online payments system, perhaps by setting up some “dummy” accounts and ensuring that payments are sent to the correct suppliers. Other controls over payments such as access controls are more likely to be tested manually by the auditor.

- limitation of use of CAATs

Use of Computer-Assisted Audit Techniques (CAATs) may be limited in Westra due to the lack of integration of computer systems. For example, the suppliers’ database is not connected to the payables ledger, limiting the use of test data to check transactions all the way through the purchases/payables system.

- cost effectiveness

Given that some of Westra’s systems are bespoke, then it may not be cost effective to use CAATs given the time required to write specific test data or program audit software to use Westra’s data.

- no connection between suppliers' database and financial accounting

Use of CAATs in the suppliers’ database may not be effective given that the database does not input directly into any financial accounting system. Testing GRNs to purchase invoice to ledgers, etc will provide greater assurance of the completeness and accuracy of purchases than testing the suppliers’ database.