Washington, D.C. For the people in government, rather than the people who pester it, Washington is an early-rising, hard- working city. It is a popular.

Slides:

Advertisements

Similar presentations

Assurance Services Independent professional services that “improve the quality of information, or its context, for decision makers” Assurance service encompass.

Advertisements

Additional Assurance Services: Other Information

CHAPTER 1 AUDITING AND THE PUBLIC ACCOUNTING PROFESSION Fall 2007 u What is auditing? u Types of Audits u Independent Auditor Relationships u Services.

2 - 1 The CPA Profession Chapter 2 Highlights Certified Public Accounting Firms The legal right to perform audits is granted to CPA firms by regulation.

Audit and Assurance services

Third Party Verification Requests The Letter of Comfort

Learning Objectives LO1 Prepare reports for review and compilation of unaudited financial statements, given specific facts. LO2 Write a report on a review.

Special Reports and Accounting and Review Services.

Chapter 20 Additional Assurance Services: Other Information

Assurance Services and Auditing Research Chapter 8.

Chapter 21 Assurance, Attestation, and Internal Auditing Services Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.

Other Assurance & Attestation Services By David N. Ricchiute

Assurance, Attestation, and Internal Auditing Services

BA 427 – Assurance and Attestation Services Lecture 18 The Types of Services Offered by Public Accounting Firms.

McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc., All Rights Reserved Chapter 21 CHAPTER 21 ASSURANCE, ATTESTATION, AND OTHER FORMS OF SERVICES.

Copyright  2003 Pearson Education Canada Inc. CHAPTER 23 Assurance Services: Attest Engagements.

AUDITING AND THE PROFESSION OF AUDITOR. What is Auditing? Facts/ Events Standards/ Criteria Report Auditing Ther process of testing the conformity among.

2-1 McGraw-Hill/Irwin ©2005 by the McGraw-Hill Companies, Inc. All rights reserved. Chapter 2 Professional Standards “ All my growth and development led.

Assurance Services and Auditing Research Chapter 8.

Module A1 Other Public Accounting Services ACCT 4080.

©2006 Prentice Hall Business Publishing, Auditing 11/e, Arens/Beasley/Elder Other Assurance Services Chapter 25.

OTHER SERVICES AND REPORTS. STATEMENTS FOR CPAS PROVIDING ACCOUNTING AND AUDITING SERVICES COMMITTEE ON AUDITING PROCEDURES –STATEMENTS ON AUDITING.

©2003 Prentice Hall Business Publishing, Auditing and Assurance Services 9/e, Arens/Elder/Beasley Other Assurance Services Chapter 24.

2-1 McGraw-Hill/Irwin ©2002 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 2 Professional Standards: “The Rules of the Road”

BIT-224 Audit Muhammad Khurshid Khan THE DEMAND FOR AUDITING Why do organizations request an audit? –Agency relationship Evidence supporting a demand.

Professional Standards. McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved. 2-2 Generally Accepted Auditing Standards-- General.

The 30,000-foot View of Financial Auditing. Financial Statements -Income Statement -Balance Sheet -Cash flow Statement -Notes to F/S Audit Opinions -Financial.

Reports By David N. Ricchiute

Additional Assurance Services: Historical Financial Information Chapter 19 McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights.

Additional Assurance Services: Historical Financial Information Chapter 19 McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights.

Learning Objectives LO1 Describe the association framework. LO2 Determine whether a PA is associated with financial statements. LO3 Describe the three.

2-1 McGraw-Hill/Irwin ©2005 by the McGraw-Hill Companies, Inc. All rights reserved. Chapter 2 Professional Standards Rules of the Road “All my growth and.

 CPA firms provide audits as well as other attestation and assurance services.  Additional services provided by CPA firms : 1. Accounting and bookkeeping.

Reports on Audited Financial Statements

1-1 Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

The CPA Profession Chapter 2 By Arens et. al. Learning Objective 1 Describe the nature of CPA firms, what they do, and their structure.

Chapter 01 The Role of the Public Accountant in the American Economy McGraw-Hill/IrwinCopyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved.

International Auditing and Assurance Standards Board (IAASB) Issues:

Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

Chapter 19 Additional Assurance Services: Historical Financial Information McGraw-Hill/IrwinCopyright © 2014 by The McGraw-Hill Companies, Inc. All rights.

19-1 Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

Chapter 19 Additional Assurance Services: Historical Financial Information McGraw-Hill/Irwin Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights.

Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

©2010 Prentice Hall Business Publishing, Auditing 13/e, Arens//Elder/Beasley Other Assurance Services Chapter 25.

Chapter 20 Additional Assurance Services: Other Information McGraw-Hill/IrwinCopyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved.

McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

CHAPTER 1 An Overview of Auditing. What does an auditor do?

1 Rittenberg/Schwieger/Johnstone Auditing: A Business Risk Approach Sixth Edition Chapter 17 Communicating Audit and Attestation Results Copyright © 2008.

Auditor’s Professional Roles and Responsibilities.

Chapter 02 Professional Standards McGraw-Hill/IrwinCopyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved.

Other Assurance Services. McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved Relationship Between Assurance and Attestation.

Module A1 Other Public Accounting Services ACCT 4080.

Copyright © 2016 South-Western/Cengage Learning OTHER SERVICES PROVIDED BY AUDIT FIRMS CHAPTER 17 Auditing A Risk-Based Approach To Conducting A Quality.

Additional Assurance Services: Historical Financial Information Chapter 19.

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 20-1 Chapter Twenty Assurance, Related Services and Internal.

©2005 Prentice Hall Business Publishing, Auditing and Assurance Services 10/e, Arens/Elder/Beasley Other Assurance Services Chapter 25.

Chapter Two The CPA Profession

©2005 by the McGraw-Hill Companies, Inc. All rights reserved.

Other Public Accounting Services

Chapter 19 Additional Assurance Services: Historical Financial Information McGraw-Hill/Irwin Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights.

Professional Standards

Chapter 20 Additional Assurance Services: Other Information

Other Assurance Services

Chapter 22: Assurance Services: Review and Compilation Engagements

Other Assurance Services

Other Assurance Services

Chapter 20 Additional Assurance Services: Other Information

Chapter 20 Additional Assurance Services: Other Information

Canadian Auditing Standards (CAS)

Communicating Levels of Assurance

Presentation transcript:

Washington, D.C. For the people in government, rather than the people who pester it, Washington is an early-rising, hard- working city. It is a popular delusion that the government wastes vast amounts of money through inefficiency and sloth. Enormous effort and elaborate planning are required to waste this much money. –P. J. O’Rourke

Other Accounting Services

Attestation & Assurance Services  Compliance  Unaudited Financial Statements  Internal Control Reporting  Interim Financial Information  Prospective Financial Statements  New Services

Attestation  AICPA Statement on Attestation Standards –“Attestation results in a written communication that expresses a conclusion about the reliability of a written assertion that is the responsibility of another party” –Positive assurance: conclusion based on an examination which provides positive, but not absolute assurance. –Negative Assurance: conclusion based on a review which provides negative, and limited, assurance

Attestation Preconditions  Practitioner is independent and has adequate training & proficiency as well as subject matter knowledge  Reasonable measurement and disclosure criteria exist  The assertions are susceptible to reasonably consistent estimation or measurement using the criteria

Attestation vs. Auditing Standards  Internal Control usually not relevant  GAAP not relevant  Identity of Assertions & the nature of the engagement  Distribution restrictions  TABLE 15.5 (pp )

Compliance Attestation  May be Audits  More often apply “agreed upon procedures”  Laws & Regulations –FDIC –EPA –Dept. of Education, Agriculture, etc.

Unaudited Financial Statements: Public Companies  CPA should disclaim an opinion (unaudited) when: –CPA’s name is used –CPA has prepared or assisted in preparing the statements  “The accompanying balance sheet and related statements of...were not audited by us and, accordingly, we do not express an opinion on them”

Compilation & Reviews: Nonpublic Companies  Compilation –Prepare financial statements based upon client supplied data  Review –More than a compilation, less than an audit –Consists of inquiry & analytic procedures –Excludes internal control evaluation, confirmations, & other tests

Prospective Financial Statements  CPA compiles, examines, or applies agreed upon procedures to prospective financial statements: –Forecast: expected financial position, results of operations, and cash flow reflecting conditions expected to exist –Projection: financial position, income, and cash flows, under hypothetical assumptions.

New Services  Other Applications Are Being Created in the Competitive Marketplace  Examples: –AICPA Web Trust –Gambling Industry Certifications –Eldercare Certifications & Services

Financial Statement Attestation Services