JAWABAN SOAL UTS correspondence between information and

AUDITING 1 established criteria.

- The most common form of audit service is an audit
2008-2009
of historical financial statements, in which the
SOAL 1 auditor expresses a conclusion as to whether the

a. Jawab: financial statements are presented in conformity

- Assurance Service : pelayanan atau jasa
professional independen yang dapat meningkatkan
kualitas informasi bagi para pembuat keputusan.
- Non Assurance Service : accounting and
bookkeeping services, tax services, management
consulting services
- Jasa Atestasi : salah satu jenis jasa
assurance yang disediakan oleh
akuntan publik, dimana akuntan public (CPA) akan
menerbitkan laporan tertulis yg isinya antara lain
berupa suatu kesimpulan tentang keterpercayaan
atas asersi (pernyataan yg menyebutkan sesuatu itu
benar) yg dibuat oleh pihak lain.
- The relationship among audit services, attestation
services, and assurance services is reflected in
Figure 1-3 on page 13 of the text. An assurance
service is an independent professional service to
with generally accepted accounting principles. An
example of an attestation service is a report on the
effectiveness of an entitys internal control over
financial reporting. There are many possible forms
of assurance services, including services related to
business performance measurement, health care
performance, and information system reliability.
kantor
b. Jawab:
Standards of field work
Concern evidence accumulation and other activities
during the actual conduct of the audit.
- Adequate planning and supervision
- Understand the entity and its environment,
including internal control
- Sufficient appropriate evidence
c. Menurut Kode Etik Profesi Profesi Akuntan Publik
oleh IAPI, Seksi 140 mengenai Prinsip Kerahasiaan,
diterangkan bahwa situasi-situasi yang mungkin
mengharuskan Praktisiuntuk mengungkapkan informasi
yang bersifat rahasia atau ketika pengungkapan tersebut
dianggap tepat:
1) Pengungkapan yang diperbolehkan oleh hukum
dan disetujui oleh klien atau pemberi kerja;
2) Pengungkapan yang diharuskan oleh hukum,
contoh:
- Pengungkapan dokumen atau bukti lainnya
dalam sidang pengadilan; atau
- Pengungkapan kepada otoritas public yang

improve the quality of information for decision tepat mengenai suatu pelanggaran hukum; dan
3) Pengungkapan yang terkait dengan kewajiban
makers. An attestation service is a form of assurance
professional untuk mengungkapkan, selama tidak
service in which the CPA firm issues a report about
dilarang oleh ketentuan hukum:
the reliability of an assertion that is the - Dalam mematuhi pelaksanaan penelaahan
responsibility of another party. Audit services are a mutu yang dilakukan oleh organisasi profesi
form of attestation service in which the auditor atau regulator;
expresses a written conclusion about the degree of
 - Dalam menjawab pertanyaan atau investigasi Asersi Management dan Tujuan Audit:
yang dilakukan oleh organisasi profesi atau - Tujuan audit umum dan tujuan audit khusus yang
regulator; terkait dengan asersi manajemen akan memberikan
- Dalam melindungi kepentingan professional
kerangka kerja untuk mengumpulkan bahan bukti
Praktisi dalam siding pengadilan; atau
audit yang kompeten dan cukup.
- Dalam mematuhi standar profesi dank ode etik
profesi yang berlaku Management Related Audit Notes
Assertions Objectives
SOAL 2 1) Transaction related audit objectives
Occurance Occurance Recorded
a. Jawab:
Asersi Manajemen: transaction
- Implied or expressed representations by exist
management about classes of transactions (e.g. sales Existig
Completeness Completeness
transactions) and related accounts (e.g. revenue, transactions are
account receivable) in the financial statements. recorded
- Pernyataan management yang terkandung
Accuracy Accuracy Correct
didalam laporan keuangan yang bersifat implisit dan
amounts
eksplisit Recorded
Posting and
- PSA 07 (SA 326) mengkasifikasi asersi ke dalam 3
transactions are
summarazatio
kategori:
properly
1) about classes of transactions and events n
occurance : included in the
concerned with inclusion of transaction that
master files
should not have been recorded
and correctly
overstatement
summarized
completeness
concerned with omitting transactions that Classification Classification Transactions
should have been recorded included in the
understatement clients
accuracy
journals are
recorded at correct amount
classification properly
recorded in the appropriate account
classified
cut off
recorded in the proper accounting period Cutoff Timing Correct dates
2) about account balances 2) Balance related audit objectives
existence overstatement
Existence Existence Amount
completeness understatement
valuation & allocation appropriate included exist
amounts Completeness Completeness Existing
rights and obligation amounts are
3) about presentation and disclosure
occurance and rights and obligations included
completeness Valuation and Accuracy Amounts
accurancy and valuation
classification and understandability allocation included are
 3) Presentation and disclosure related
stated at the
audit objectives
correct
Occurance Occurance and
amounts
and rights rights and
Classification Amounts
and obligations
included in
obligations
the clients
Completeness Completeness
listing are
properly Accurancy Accurancy and

classified and valuation valuation

Cutoff Transactions Classification Classification

near the and and

balance sheet understandabi understandabil

date are lity ity

recorded in b. Jawab:
1) General Transaction Related Audit Objective
the proper
Accuracy
period 2) General Balance Related Audit Objective
Detail tie-in Details in the Cutoff
account 3) General Balance Related Audit Objective

balance agree Realizable Value

4) General Balance Related Audit Objective
with related
Rights and Obligations
master file 5) General Balance Related Audit Objective
amounts, foot Rights and Obligations
to the total in SOAL 3
the account a. Audit Evidence
balance, and b. Seven Characteristics of reliable/competent evidence1:
(1) Relevance--to the audit objective that the auditor is
agree with the
testing;
total in the (2) Independence of the provider--information
general ledger received from outside the entity is presumed to
Realizable Assets are be more reliable than from inside the entity.
(3) Effectiveness of the client's internal controls--
value included at
the amounts evidence from a client whose internal controls are
effective is more trustworthy.
estimated to
(4) Auditor's direct knowledge--data or calculations
be realized
prepared by someone inside the organization will
Rights and Rights and Most assets
obligations obligations must be
owned before
1 http://seattlecentral.edu/faculty/moneil/Audit/Audit-
included L7.htm
 not be as reliable as data computed or discovered
by the auditor directly.
(5) Qualifications of the individuals providing the
information--reliability of the information is
enhanced if the person providing it is qualified to
do so.
(6) Degree of objectivity--objective evidence is more
reliable than evidence that is subjective.
(7) Timeliness--data that are timely for the purpose
intended are considered more reliable.
c. Jawab:
In deciding which procedures to use, the auditor may
choose from seven different types of evidence:
(1) Physical examination--of a tangible asset such as
inventory, cash, or fixed assets. Your text points out
that some items, such as checks, are assets only
during that period when they have inherent value;
prior to execution and after cashing, checks are
classified as documents. Physical examination is a
way to verify that an asset exists, or to verify its
condition, but not to determine whether the client
owns the asset.
(2) Confirmation--is the receipt of a written or oral
response from and independent third party
verifying information requested by the auditor.
Because of the independence of the third party,
confirmations are a highly desirable, though costly,
type of evidence. SAS 67 (AU 330) describes two
types of confirmations. A positive confirmation
asks the respondent to provide an answer in all
circumstances, while a negative confirmation asks
for a response only if the information is incorrect.
As you might predict, negative confirmations are
not as competent as positive confirmations. Note
that SAS 67 requires confirmation of a sample of
accounts receivable due to the materiality of
receivables for most companies. Some typical
types of information that auditors confirm are listed
in Table 7-3. Note the proviso that confirmations
must be under the control of the auditor for
maximum reliability of the evidence.
(3) Documentation--consists of the client's business
documents used to support accounting events. A
strength of documentation is that it is prevalent and
available at a low cost. Documents can be internal
or externally generated. Internal documents
provide less reliable evidence than external ones,
particularly if the client's internal control is
suspect. Documents that are external and have been
prepared by qualified individuals such as attorneys
or insurance brokers provide additional reliability.
The use of documentation in support of a client's
transactions is called vouching. It is important to
note that electronic records are considered valid
documents, per SAS 80.
(4) Analytical procedures--are comparisons of account
balances and relationships as a check on
reasonableness. Analytical procedures are required
during the planning and completion phases of all
audits and may be used for the following purposes:
1) to better understand the client's industry and
business; 2) assess the client's ability to continue as
a going concern; 3) to indicate the possibility of
misstatements ("unusual fluctuations")in the
client's financial statements; 4) to reduce the need
for detailed audit tests
(5) Inquiries of the client directly from the auditor.
(6) Reperformance (rechecking) of samples of
computations or information made by the client.
(7) Observation by the auditor during the course of the
audit.
- Physical examination and confirmation are the two
most expensive types of evidence,
- Documentation and analytical procedures are only
moderately costly.
- Observation, inquiries of the client, and reperformance
are the least costly type of evidence.
SOAL 4
Initial Audit Planning
1) Client Acceptance and Continuance
- New clients investigation
The prospective clients standing in the
business community
Financial stability
Relations with previous auditor
- Continuing clients
Reevaluating existing ones
2) Identify Clients Reasons for Audit
- Statement users
- Their intended uses of statements
3) Obtain an Understanding with the Client
- Engagement letter (objectives, responsibilities,
limitations, other services)
4) Develop Overall Audit Strategy
- Audit strategy (consider: nature of the client,
number of client locations, past effectiveness of
client controls determine resources for
staffing)
- Select staff for engagement
- Evaluate need for outside specialist
SOAL 5
a. Jawab:
- Acceptable audit risk is a measure of how willing
the auditor is to accept that the financial statements
may be materially misstated after the audit is
completed and an unqualified opinion has been
issued.
- Inherent risk measures the auditors assessment of
the likelihood that there are material misstatements
(error or fraud) in a segment before considering the
effectiveness of internal control.
- Control risk measures the auditors assessment of
whether misstatements exceeding a tolerable amount
in a segment will be prevented or detected on a
timely basis by the clients internal controls.
- Planned detection risk is a measure of the risk that
audit evidence for a segment will fail to detect
misstatements exceeding a tolerable amount, should
such misstatements exist. In audit planning, this risk
is determined by using the other three factors in the
risk model using the formula PDR = AAR / (IR x
CR).
Jawab (more):
- Planned detection risk - Is the risk that audit
evidence for a segment will fail to detect a material
misstatement. Planned detection risk is the
dependent variable that is solved for in this
equation, and determines the amount of evidence
required. The other three factors determine the
auditor's detection risk, and the amount of
evidence that must be gathered (which is why the
risk model is a useful planning tool).
There is an inverse relation between detection risk
and evidence. Low detection risk implies high
evidence.
Decrease in detection risk --> More evidence
required
- Acceptable audit risk - This is the probability that
the auditor may unknowingly fail to appropriately
modify the opinion when the financial statements
are materially misstated. The lower the acceptable
audit risk, the greater the evidence required (lower
detection risk).
Some factors affecting acceptable audit risk:
o Distribution of ownership and debt
o Likelihood of business failure
o Evaluation of management integrity
- Inherent Risk - Estimate of the likelihood of
material misstatements in a segment, before
considering effectiveness of the internal control
structure. The greater the inherent risk, the greater
the amount of evidence required.
 Some accounts are inherently more risky than
-
others. Further, for a given account, certain
assertions/objectives are likely to be associated
with higher inherent risk. For example, there is
more inherent risk with inventory than fixed assets.
For accounts receivable, there is greater inherent
risk for net realizable value than for detail tie-in.
Some factors affecting inherent risk:
o Nonroutine transactions
o Management estimates
o Net realizable value
o Subject to theft or manipulation (fraud
risk)
- Control Risk - This is the risk that the client's
internal controls will not detect a material
misstatement. As control risk is lowered, less
evidence is required (lower detection risk).
Evaluating control is the subject of the next
chapter. At this point, it is sufficient to know that
to reduce control risk below 100% (maximum), we
must study controls, they must be effective, and
we must test their effectiveness.
IR X CR combined is the risk (probability) that the
account contains material error before applying
audit procedures and is referred to as the risk of
material misstatement in SAS 107.
b. Jawab:
SITUASI
RISIKO 1 2 3 4
Acceptable Audit Risk 0.05 0.05 0.05 0.01
IR x CR 0.24 0.06 1.00 0.24
PDR = AAR/(IR x CR) 0.208 0.833 0.05 0.042
Planned Detection Risk (%) 20.8% 83.3% 5% 4.2%
c. Jawab:
- Situasi 3 -> greatest amount of evidance (smalest
planned detection risk)
- Situasi 2 -> least amount of evidance (highest
planned detection risk)
- Situasi ekstrim -> AAR is lower for situasi 3, and
both CR and IR are considerably higher
d. Jawab:
- Risk and materiality measure the uncertainty of
amounts of a given magnitude.
- Relationship of tolerable misstatement and risks to
planned evidence: