Investments program auditWord文件下载.docx

Investments program auditWord文件下载.docx

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Number

DescriptionorBriefPurpose

oftheAccount

Currentor

NoncurrentAsset?

AuditProgramforInvestments

AuditObjectives

AuditProceduresforConsideration

N/A

Performedby

WorkpaperIndex

FINANCIALSTATEMENTASSERTIONS

E/O 

Existenceoroccurrence. 

V/A 

Valuationorallocation.

C 

Completeness. 

P/D 

Presentationanddisclosure.

R/O 

Rightsandobligations.

AUDITOBJECTIVES

A. 

Thebalancesreflectacompletelistingofinvestments,andthecompany’sownershipofsuchassetsisevidencedbysecuritiesorotherappropriatelegaldocumentseitherphysicallyonhandorheldinsafekeepingbyothers（assertionsE/O,C,andR/O）.

B. 

Assetvalues,investmentincomeorloss,valuationallowances,gainsorlossesonsalesofinvestments,andchangesinfairvaluearerecordedandpresentedinaccordancewithGAAP（assertionV/A）.

C. 

Investmentsareproperlydescribedandclassifiedinthebalancesheet,anddisclosureshavebeenmadeforanyrestrictions,pledges,orliensagainsttheassets.ThedisclosuresrequiredbyGAAPhavebeenmade（assertionP/D）.

D. 

Derivativesareproperlyidentifiedandmeasuredasassetsorliabilities,andchangesinfairvaluearerecordedandpresentedinaccordancewithGAAP.ThedisclosuresrequiredbyGAAPhavebeenmade（assertionsE/O,C,R/O,V/A,andP/D）.

IDENTIFICATIONCODES

Thelettersprecedingeachoftheaboveauditobjectives,i.e.,A,B,etc.,serveasidentificationcodes.Thesecodesarepresentedintheleftcolumnlabeled“AuditObjectives”whenaprocedureaccomplishesanobjective.Ifthealphacodeappearsinabracket,e.g.,[A],[B],etc.,theauditprocedureonlysecondarilyaccomplishestheobjective.Ifanasteriskprecedesaprocedure,itisapreliminarysteporafollowupstepthatdoesnotaccomplishanobjective.

BASICPROCEDURES

A,B,C

1. 

Fordebtandequitysecurities:

a. 

Obtainorprepareananalysisofactivityduringtheyearinthesecuritiesportfolioseparatedbyclassificationtype（trading,held-to-maturity,oravailable-for-sale）.Testtheclericalaccuracyoftheanalysis.Tracetheopeningbalancestotheadjustedprioryearworkingtrialbalanceandtheendingbalancestothecurrentyear’sworkingtrialbalance.

b. 

Inspectthesecuritiesonhandandconfirmsecuritiesheldbyothers.Retaincopiesofallconfirmationsintheworkpapers.

（1） 

Theinspectionshouldbeperformedinthepresenceofclientpersonnel.Obtainareceiptevidencingthereturnofthesecuritiestothecustodyoftheclient.（SeeCL-15,“ReceiptforSecuritiesCountedbyAuditor.”）

（2） 

Determinethatthesecuritiesaremadeouttotheclientandthatcoupons,ifappropriate,areattached.

（3） 

ComparethesecuritiesinspectedorconfirmedtotheportfolioactivityobtainedinStep1a.

c. 

Vouchthecostofsignificantpurchasesandtheproceedsfromsignificantsales.Documenttheitemstested.Recomputethegainorlossfromthesaleofsecurities,notingthatthemethodusedindeterminingthecostofsecuritiessold（specificidentification;

first-in,first-out;

oraveragecost）wasconsistentlyapplied.

d. 

Testthereasonablenessofcurrentyeardividendandinterestincomefrominvestmentsifsuchincomeismaterial.Inspectpublishedsourcesfordividendsdeclared.Determineifdividendsreceivableshouldbeaccrued.Recomputeamortizationofdiscountorpremiumonbonds.

e. 

Testthecarryingvalueofthesecurityportfolio.

Testtheproprietyoftheclassificationofsecuritiesastrading,held-to-maturity,oravailable-for-sale.

Tracemarketvaluestopublishedsources.

Recomputetheunrealizedgainorlossforeachclassification.

（4） 

Determinethattheunrealizedgainorlossonthetradingportfoliohasbeenproperlyclassifiedintheincomestatementandthattheunrealizedgainorlossontheavailable-for-saleportfoliohasbeenproperlyclassifiedintheequitysectionofthebalancesheet.（Unrealizedholdinggainsandlossesontheavailable-for-saleportfolioshouldbereportedasothercomprehensiveincome.）

（5） 

Determinethatalltransfersbetweentheportfolioshavebeenproperlyrecordedinaccordancewithmanagement’sauthorizationandnotepertinentinformationforthemanagementrepresentationletter.

（6） 

Determinethatanyother-than-temporarydeclineinvalueofsecuritiesavailable-for-saleorheld-to-maturityhasbeenproperlyrecognizedandaccountedfor.

（7） 

Determinethatunrealizedgainsandlosseshavebeenappropriatelyidentifiedastemporarydifferencesforpurposesofcomputingdeferredincometaxes.

f. 

Fromareviewofbankconfirmations,debtconfirmations,debtagreements,directors’minutes,inquiryofmanagement,andphysicalinspectionorconfirmationofsecurities,determinewhetheranysecurityhasbeenpledgedorassignedtootherstosecuredebt.Summarizeanysuchsituationsfordisclosure.

g. 

Reviewclassificationofsecuritiesascurrentornoncurrent.

h. 

SummarizeintheworkpapersthefinancialstatementdisclosuresrequiredbySFASNo.115,SFASNo.107,andSFASNo. 

133.

i. 

Obtainarepresentationintherepresentationletterrelatingtotheentity’sabilityandintenttoholdinvestmentsclassifiedasheld-to-maturity.AnexamplerepresentationletterisprovidedatCL-28.

PracticalConsiderations:

¯

Mostcommercialbusinessesnotinthefinancialservicesindustryhavelimitedinvestmentsinsecurities.Accordingly,thisfinancialstatementcaptionisusuallyimmaterial.Theseproceduresshouldonlybeperformedifthecompanyhasmaterialinvestmentsinsecurities.

Oftenacompany’ssecurityactivitycanbeobtainedfrommonthlyactivityreportspreparedbythebrokerwhohandledthetrades.Photocopiesofthesedocumentscansometimesbeusedinlieuofpreparingaseparateworkpaperschedule.Ifthecompany’sinvestmentsareheldbyabroker/dealerorbanktrustdepartment,considerwhetheraSASNo.70reportontheserviceorganizationisneededtogainasufficientunderstandingofinternalcontrolinordertoplantheaudit.Seesection202.

SASNo.96,AuditDocumentation,requiresdocumentationofsubstantivetestsofdetailsinvolvinginspectionofdocumentstoincludeidentificationoftheitemstested.Theauthorsbelieveitemstestedcanbeidentifiedbylistingtheitems;

byincludingadetailscheduleintheworkpapers,suchasadetailedanalysisofsecuritiesactivity,onwhichtheitemsareidentified;

orbydocumentingintheworkpapersthesourceandselectioncriteria.Forexample:

Fortestsofsignificantitems,documentationmaydescribetheauditor’sscopeandthesourceoftheitems（forexample,allsecuritiespurchasesgreaterthan$5,000fromthe20X2portfolioactivityanalysis）.

Forhaphazardorrandomsamples,documentationshouldincludetheidentifyingcharacteristicsoftheitems（forexample,thespecificremittancenumbers,checknumbers,etc.）.

Forsystematicsamples,documentationmayindicatethesource,startingpoint,andsamplinginterval（forexample,aselectionofchecksfromthecashdisbursementsjournalfortheperiod1/1/X2to12/31/X2,startingwithchecknumber2150andselectingevery100thcheckthereafter）.

SASNo.96iseffectiveforauditsoffinancialstatementsforperiodsbeginningonorafterMay15,2002,withearlyapplicationpermitted.

SFASNo.115（asinterpretedbyFASBTechnicalBulletinNo.94-1）requiresthatalldebtsecuritiesandequitysecuritieswithreadilydeterminablefairvaluesbeclassifiedintooneofthreecategoriesbasedon

（1）thetypeofsecurityand

（2） 

management’sabilityandintenttoholdtheinvestment.AccordingtoParagraph83ofSFASNo.115,theclassificationofdebtandequitysecuritiesshouldbedocumentedbytheentity.

Inevaluatingmanagement’sintentandabilityregardinginvestmentclassification,theauditorshould:

Obtainanunderstandingofmanagement’sprocessforclassifyingsecuritiesastrading,available-for-sale,orheld-to-maturity.

Considerwhetherthecompany’spastactivitiescorroborateorconflictwithitsstatedintent.Forexample,theauditorshouldquestionmanagement’sintentifthecompanyhassoldinvestmentsecuritiesclassifiedasheld-to-maturityforreasonsotherthanthoseidentifiedinSFASNo.115,Paragraphs8and11.

Inspectdocumentationofmanagement’sintent.（Documentationoftheclassificationofdebtandequitysecuritiesmaybeinformal.）

Determinewhethermanagement’sactivities,contractualagreements,orthecompany’sfinancialconditionprovideevidenceofmanagement’sabilitytoholdtheinvestment.