Читать книгу Wiley Practitioner's Guide to GAAS 2020 - Joanne M. Flood - Страница 113

The auditor should consider whether analytical procedures performed as substantive tests or in the overall review stage of the audit indicate a risk of material misstatement due to fraud. The auditor should perform analytical procedures relating to revenue through the end of the reporting period, either as part of the overall review of the audit or separately. If such procedures are not included during the overall review stage of the audit, the auditor should perform analytical procedures specifically related to potentially fraudulent revenue recognition.

The auditor should be alert to responses to inquiries about analytical relationships that are:

 Vague or implausible

 Inconsistent with other audit evidenceNOTE: The auditor should document other conditions or analytical relationships that result in additional procedures, and any other responses the auditor feels are necessary.

As part of the auditor’s evaluation of analytical procedures performed as substantive tests or in the overall review stage of the audit, and those analytical procedures that relate to revenue through the end of the reporting period, the auditor may find it helpful to consider the following issues:

1 Are there any unusual relationships involving revenues and income at year-end, such as an unexpectedly large amount of revenue reported at the very end of the reporting period from nonstandard transactions, or income that is not consistent with cash flow trends from operations?

2 Are there other unusual or unexpected analytical relationships that should be evaluated? The guidance provides the following examples:An unusual relationship between net income and cash flows from operations may occur if management recorded fictitious revenues and receivables but was unable to manipulate cash.Inconsistent changes in inventory, accounts payable, sales, or cost of sales between the prior period and the current period may indicate a possible employee theft of inventory, because the employee was unable to manipulate all the related accounts.Comparing the entity’s profitability to industry trends, which management cannot manipulate, may indicate trends or differences for further consideration.Unexplained relationships between bad-debt write-offs and comparable industry data, which employees cannot manipulate, may indicate a possible theft of cash receipts.Unusual relationships between sales volume taken from the accounting records and production statistics maintained by operating personnel—which may be more difficult for management to manipulate—may indicate a possible misstatement of sales.(AU-C 240.A58)