UNSW Business School
School of Accounting, Auditing and Taxation
ACCT5908 Auditing and Assurance Services
Term 3 - 2022
Topic 3
Understanding the Entity and Assessing
Business Risk and Inherent Risk
Course Overview
2
Exercise 5.28
Fundamental Importance of Risk
Assessment
• If auditors do not effectively conduct risk assessment, audit
quality suffers.
• Auditors ‘respond to risk of material misstatement’. So if risks
are not identified, they cannot respond to them.
• Risk assessment is the ‘heart’ of the audit
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• 如果审计师不能有效地进⾏⻛险评估，审计质量就会受到影响。
• 审计师“应对重⼤错报⻛险”。 因此，如果⻛险没有被识别，他们就⽆法应对。
• ⻛险评估是审计的“⼼脏”
Recent Developments
• In February 2020, the Australian Auditing and Assurance
Standards Board reissued ASA315 ‘Identifying and Assessing
Risk of Material Misstatement’.
• Specifies a more robust process of risk identification and
assessment.
• A key change is to require a separate assessment of inherent
and control risk.
• Operative for financial reporting periods commencing on or
after 15 December 2021.
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Audit risk
5
Audit Risk Model
AR = ƒ(IR,CR,DR)
RMM
IR: Inherent risk
CR: Control risk
DR: Detection risk
RMM: Risk of material misstatement
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Steps in the risk assessment process
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Knowledge of the entity and its
environment
• The auditor’s knowledge of the entity can help to:
• Assess risk and identify problems
• Determine materiality
• Consider the appropriateness of accounting policies and disclosures
• Identify areas requiring special audit consideration
• Develop expectations for use when performing analytical procedures
• Design audit procedures in response to assessed risks of material
misstatement
• Evaluate audit evidence
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• 评估⻛险并识别问题
• 确定重要性
• 考虑会计政策和披露的适当性
• 确定需要特别审计考虑的领域
• 制定执⾏分析程序时的使⽤预期
• 设计审计程序以应对评估的重⼤⻛险错报
• 评估审计证据
running
revenue 测it
Obtaining an understanding of the entity
and its environment
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Industry, regulatory and other external
factors.
• The auditor should have a basic understanding of industry
and economic conditions, government regulations, changes in
technology and competitive conditions affecting an entity’s
operations.
• Knowledge of industry-specific accounting practices is
particularly important.
• Sources of information include trade journals, industry
statistics and the audit firm’s knowledge management
database.
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审计师应该对影响实体经营的⾏业和经济状况、政府法规、技术变化和竞争条件
有基本的了解。
了解特定⾏业的会计实务尤为重要。
信息来源包括⾏业期刊、⾏业统计数据和审计公司的知识管理数据库。
Nature of the entity
• The organisational structure of an entity divides tasks
between individual employees, groups or departments and
locations.
• In order to understand the business purpose of material
transactions, the auditor:
• Examines organisational charts and reads manuals
• Makes enquiries about policies and procedures in effect
• Observes the actions of employees and top management
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实体的组织结构在单个员⼯、组或部⻔和位置之间划分任务。
为了了解重⼤交易的商业⽬的，审计师：
• 检查组织结构图并阅读⼿册
• 询问现⾏政策和程序
• 观察员⼯和⾼层管理⼈员的⾏动
Accounting Policies
• Understand accounting policies and any changes in those
policies.
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了解会计政策和这些政策的任何变化。
Objectives and strategies and related
business risks
• What is the entity attempting to achieve and how they are
doing this?
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实体试图实现什么以及他们如何做到这⼀点？
Measurement and review of financial
performance
• How is performance assessed? (it is not always profit!)
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如何评估绩效？ （并不总是利润！）
Business risk
• After gaining an understanding of the entity, the next two
stages of the risk assessment process are to identify and
assess risk, as outlined below:
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在了解实体后，⻛险评估过程的下两个阶段是识别和评估⻛险，概述如下：
Business risk defined
• Auditing standards define business risk as: “A risk resulting
from significant conditions, events, circumstances, actions or
inactions that could adversely affect an entity’s ability to
achieve its objectives and execute its strategies, or from the
setting of inappropriate objectives and strategies”.
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审计准则将业务⻛险定义为：“由可能对主体实现其⽬标和执⾏其战略的能⼒产⽣不利影响的重⼤条
件、事件、情况、作为或不作为或因设定不适当的⽬标和战略⽽产⽣的⻛险”。
Relationship between client business risk
and global, local and internal environments
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Risk assessment procedures
• The auditing standards identify a number of methods of
obtaining knowledge of the entity, including:
• Considering previous experience with entity and industry.
• Discussion with senior people and internal auditors in the entity.
• Discussion with other auditors and advisors and knowledgeable
people, such as industry economists and industry regulators.
• Review of significant legislation and regulations.
• Reading of industry publications and documents produced by the
entity.
• Visiting entity’s premises.
• Performance of analytical procedures.
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审计准则确定了⼀些获取实体知识的⽅法，包括：
• 考虑以前在实体和⾏业⽅⾯的经验。
• 与实体中的⾼级⼈员和内部审计师进⾏讨论。
• 与其他审计师和顾问以及知识渊博的⼈讨论，例如⾏业经济学家和⾏业监管者。
• 审查重要的法律法规。
• 阅读实体制作的⾏业出版物和⽂件。
• 访问实体的场所。
• 分析程序的执⾏。
Assessing business risk
• The auditor uses entity and industry information to identify
business risks that may affect the audit.
• The assessment of client business risk is an input into the
auditor’s assessment of the risk of material misstatement in
the financial report (by way of inherent risk).
• Auditing standards require, the members of the audit
engagement team to discuss the susceptibility of the entity’s
financial report to material misstatement.
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审计师使⽤实体和⾏业信息来识别可能影响审计的业务⻛险。
对客户业务⻛险的评估是审计师评估财务报告中重⼤错报⻛险（通过固有⻛险的⽅式）的输⼊。
审计准则要求审计业务团队成员讨论被审计单位财务报告对重⼤错报的敏感性。
Techniques for assessing business risk
• To obtain information about the risks arising due to the nature
of the entity and its environment, auditors may use strategic
management techniques such as:
• Strengths-Weaknesses-Opportunities-Threats (SWOT) analysis.
• Political-Economic-Social-Technological (PEST) risk analysis.
• Value chain analysis
• Non financial performance measurement.
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为了获取有关由于实体及其环境的性质⽽产⽣的⻛险的信息，审计师可以使⽤战略管理技术，例如：
Timmer find Statement
Business risks and risks of material
misstatement
• Many business risks eventually have financial consequences
and therefore eventually affect inherent risk and risk of
material misstatement.
• However, not all business risks impact the risk of material
misstatement.
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Business Risk
Inherent Risk
Fraud Risk
许多业务⻛险最终会产⽣财务后果，因此最终会影响固有⻛险和重⼤错报⻛险。
然⽽，并⾮所有业务⻛险都会影响重⼤错报⻛险。
Business risk
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Business risk
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Business risk
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Significant risks
• The auditor is required to determine whether any identified
risk is a ‘significant risk’, being a risk of material misstatement
that requires special audit consideration.
• Factors to consider when determining significant risks include:
• The risk of fraud.
• Relationship to recent significant economic, accounting or other
developments that require specific attention.
• Complexity of the transactions.
• Involvement of significant transactions with related parties.
• Degree of subjectivity in measuring related financial information.
• Whether significant transactions are unusual or outside the
normal course of business for the entity.
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• 欺诈⻛险。
• 与需要特别关注的近期重⼤经济、会计或其他发展的关系。
• 交易的复杂性。
• 涉及与关联⽅的重⼤交易。
• 衡量相关财务信息的主观程度。
• 重⼤交易是否异常或超出实体的正常业务过程。
注册会计师需要确定任何已识别⻛险是否属于“重⼤⻛险”，即需要特别审计考虑的重⼤错报⻛险。
Fraud
• At the planning stage, an auditor should consider the risk that
material misstatements resulting from fraud will not be
detected, and consider risk of fraud when deciding which risks
are significant.
• It is easier to miss material misstatements resulting from fraud
because fraud involves acts designed to conceal it, such as
collusion, forgery or intentional misrepresentation to the
auditor.
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在计划阶段，注册会计师应考虑⽆法发现因舞弊导致的重⼤错报的⻛险，并在决
定哪些⻛险重⼤时考虑舞弊⻛险。
舞弊导致的重⼤错报更容易遗漏，因为舞弊涉及旨在隐瞒事实的⾏为，例如串
通、伪造或故意向审计师虚假陈述。
Fraud
• Fraud is defined as:
‘An intentional act by one or more individuals among
management, those charged with governance, employees, or
third parties, involving the use of deception to obtain an unjust or
illegal advantage’
• There are two types of fraudulent misstatement that are
relevant to the auditor:
• Misstatement resulting from fraudulent financial reporting.
• Misstatement resulting from misappropriation of assets.
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管理层、治理层、员⼯或第三⽅中的⼀个或多个个⼈的故意⾏为，涉
及使⽤欺骗⼿段获取不公正或⾮法的利益
• 财务报告欺诈导致的错报。
• 挪⽤资产导致的错报。
ㄧ
Fraud
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Fraudulent financial reporting
• Fraudulent financial reporting may involve:
• Manipulation, falsification or alteration of records or documents.
• Suppression or omission of the effects of transactions from
records or documents.
• Recording of transactions without substance.
• Intentional misapplication of accounting policies.
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• 篡改、篡改或篡改记录或⽂件。
• 从记录或⽂件中抑制或省略交易的影响。
• 记录没有实质内容的交易。
• 故意误⽤会计政策。
Misappropriation of assets
• Misappropriation of assets may involve:
• Embezzling cash receipts.
• Stealing assets.
• Causing the entity to pay for goods not received.
• Using an entity’s assets for personal use.
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挪⽤资产
• 挪⽤现⾦收据。
• 窃取资产。
• 导致主体为未收到的货物付款。
• 将实体的资产⽤于个⼈⽤途。
Fraud triangle
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i合理化
Fraud Risk Factors
Fraud risk factors can be split into three
categories (called the Fraud Triangle):
– An incentive or pressure to commit fraud,
– A perceived opportunity to commit fraud, and
– An ability to rationalise the fraudulent action.
If factors from all three categories are
present, fraud is more likely.
Auditor must assess and discuss risk factors
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– 实施欺诈的激励或压⼒，
– 感知到的欺诈机会，以及
–
使欺诈⾏为合理化的能⼒。
Auditors responsibility for the detection
and prevention of fraud
• In planning and conducting the audit, the auditor must
exercise reasonable care and skill and maintain an attitude of
professional scepticism.
• An auditor will use his or her experience, knowledge and
training to determine whether fraud could occur.
• An auditor needs a thorough understanding of a client’s
business in order to identify opportunities for fraud.
• If there is a particular risk of fraud because of the nature of an
item, it should receive more attention.
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在计划和进⾏审计时，审计师必须运⽤合理的谨慎和技能，并保持职业怀疑的态度。
审计师将利⽤他或她的经验、知识和培训来确定是否可能发⽣欺诈。
审计师需要彻底了解客户的业务，以识别欺诈机会。
如果由于物品的性质⽽存在特定的欺诈⻛险，则应引起更多注意。
Responsibility for the detection and
prevention of fraud
• Auditors now have to proactively consider fraud. Auditing
standards require the auditor to:
• Specifically consider risks of material misstatement in a financial
report due to fraud.
• Discuss an entity’s susceptibility to fraud with other members of
the audit team.
• Make more extensive enquiries of management with respect to
fraud.
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审计师现在必须主动考虑欺诈。 审计准则要求审计师：
• 特别考虑由于舞弊导致的财务报告重⼤错报⻛险。
• 与审计团队的其他成员讨论实体对欺诈的敏感性。
• 就欺诈问题向管理层进⾏更⼴泛的调查。
Reporting fraud
• The auditor has a duty to report fraud, irrespective of
materiality, to an appropriate level of management when
suspicions are aroused.
• Auditors should obtain legal advice if there is any doubt as to the
appropriate course of action to take.
• While the auditor may be reluctant to report fraud due to the risk
of defamation, in most cases the auditor is protected from
defamation actions by qualified privilege as long as reporting
matters in good faith and without malice to people who have a
proper interest in receiving the information.
如果对采取的适当⾏动有任何疑问，审计师应寻求法律意⻅。
尽管由于存在诽谤⻛险，审计师可能不愿报告欺诈⾏为，但在⼤多数情况下，只要诚实且⽆恶意地向
有适当利益的⼈报告事项，审计师就会受到限制性特权的保护，免受诽谤诉讼。 信息。
Fraud risk factors
• An auditor commonly uses a checklist to identify increased
risks of fraud. Where risk is high, it is called a ‘red flag’.
• Risks can be grouped under six headings
• Management
• Unusual pressures within an entity
• Market pressures
• Unusual transactions
• Unsatisfactory records
• IT environment
• 管理
• 实体内部的异常压⼒
• 市场压⼒
• 异常交易
• 不满意的记录
• IT 环境
Earnings management
• Earnings management occurs when judgment in financial
reporting and in structuring transactions is used to alter
financial reports to influence the perceptions of stakeholders.
• Earnings management involves those responsible for
preparing the financial report such at the Chief Financial
Officer (CFO) and Chief Executive Officer (CEO).
• Incentives to manage earnings can be either behavioral or
market-based.
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当财务报告和交易结构中的判断被⽤来改变财务报告以影响利益相关者的看法时，就会发⽣盈余管理。
盈余管理涉及负责编制财务报告的⼈员，例如⾸席财务官 (CFO) 和⾸席执⾏官 (CEO)。
管理收益的激励措施可以是⾏为的，也可以是基于市场的。
Broad categories of earnings
management
• Earnings management by clients may fall into the following
categories:
• Intentional violations of accounting standards and other reporting
requirements that are individually immaterial.
• Inappropriate revenue recognition.
• ‘Big bath’ charges under the guise of restructuring.
• Improper accruals and estimation of liabilities in good times.
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客户的盈余管理可分为以下⼏类：
故意违反会计准则和其他单独⽆关紧要的报告要求。
• 不恰当的收⼊确认。
• 以重组为幌⼦的“⼤浴场”收费。
• 在良好时期对负债的应计和估计不当。
Related parties
• Related parties are defined in AASB124 as follows:
Entities are related if one entity is able to significantly influence or
control the operating, financing or investing decisions of another; or
if several entities are subject to control from the same entity; or if
the party is a joint venture in which the entity is a venturer.
• Related parties include key management personnel (including
directors), their close family members and entities controlled
by them as well as superannuation funds run for the benefit of
employees or related parties of the entity.
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如果⼀个实体能够显着影响或控制另⼀实体的经营、融资或投资决策，则该实体是相关的； 或者如果多个实
体受到同⼀实体的控制； 或者如果该⽅是该实体是合营者的合营企业。
关联⽅包括关键管理⼈员（包括董事）、其近亲及其控制的实体，以及为
雇员或实体关联⽅的利益⽽运作的养⽼基⾦。
Assessing risks associated with related
parties
• Auditing standards require auditors to specifically assess the
risk that related parties and related part transactions will not
be identified, or appropriately disclosed and/or measured.
• An auditor must identify all related parties when planning the
audit because:
• The existence of related parties or related party transactions can affect
the financial information.
• The reliability of audit evidence is a function of the source of that
evidence.
• The initiation of a related party transaction might be motivated by other
than ordinary business conditions, such as fraud.
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审核员在计划审核时必须识别所有相关⽅，因为：
审计准则要求审计师专⻔评估关联⽅和关联部分交易⽆法识别或适当披露和/或衡量的⻛险。
• 关联⽅或关联⽅交易的存在会影响财务信息。
• 审计证据的可靠性取决于该证据的来源。
• 发起关联⽅交易的动机可能不是⼀般的商业条件，例如欺诈。
Examples of related parties fraud
• Examples of possible frauds involving related parties:
• Creating fictitious terms of transactions with related parties.
• Fraudulently transferring assets at amounts significantly above
or below market value.
• Engaging in complex transactions with related parties, such as
special purpose entities, that are structured to misrepresent the
financial position or performance of the entity.
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• 虚构与关联⽅的交易条款。
• 以⼤⼤⾼于或低于市场价值的⾦额欺诈性地转移资产。
与关联⽅（例如特殊⽬的实体）进⾏复杂的交易，这些交易的结构旨在歪曲实体的财
务状况或业绩。
Procedures for identifying related parties
• Review the previous period’s working papers for known
related parties.
• Make enquires of management concerning the names of all
related parties.
• Review the entity’s procedures for identifying related parties.
• Enquire about management’s and directors’ affiliations with
other entities.
• Review minutes of meetings.
• Enquire of other auditors involved in the audit.
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• 查看已知关联⽅的前期⼯作⽂件。
• 向管理层询问所有关联⽅的名称。
• 审查实体识别关联⽅的程序。
• 询问管理层和董事与其他实体的关系。
• 查看会议记录。
• 询问参与审计的其他审计师。
Identifying the existence of related
parties
• Examples of transactions that may indicate the existence of
related parties include transactions that:
• Are overly complex (for example, transactions involving multiple
parties within a consolidated group).
• Have abnormal terms of trade, such as unusual prices, interest
rates, repayment terms, or guarantees.
• Lack an apparent logical business reason to justify their
occurrence.
• Have been processed in an unusual manner.
• 过于复杂（例如，涉及合并集团内多⽅的交易）。
• 有不正常的贸易条款，例如不寻常的价格、利率、还款条款或担保。
• 缺乏明显的合乎逻辑的商业理由来证明它们的发⽣是正当的。
• 以不寻常的⽅式处理。
Appropriateness of the going concern
assumption
• Going concern assumption:
• Entity is viewed as continuing in business for the foreseeable
future without any intention or necessity to liquidate or otherwise
cease its operations.
• Auditing standards require auditors to assess going concern
at planning stage, as imminent business failure might affect
the appropriateness of presentation of financial report or
might motivate management representations.
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实体被视为在可预⻅的未来继续经营，没有任何清算或以其他⽅式停⽌其运营的意图或必要性。
审计准则要求审计师在计划阶段评估持续经营，因为迫在眉睫的业务失败可能会影响
财务报告的适当性或可能会激发管理层的陈述。
持续经营假设的适当性
Appropriateness of the going concern
basis
• Early identification helps focus audit effort on appropriate
assertions in the financial report and permits early
communication with management.
• An auditor focusses primarily on anticipated events during the
relevant period, approximately 12 months from the date of the
current audit report to the expected date of the next audit
report.
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早期识别有助于将审计⼯作集中在财务报告中的适当断⾔上，并允许与管理层进⾏早期沟通。
审计师主要关注相关期间的预期事件，从当前审计报告⽇期到下⼀份审计报告的预期⽇期⼤约 12 个⽉。
Examples of indications of going concern
problems
• Financial indicators include:
• High gearing, fixed term, or reliance on short term borrowings.
• Withdrawal of financial creditors, inability to pay creditors or
denial of trade credit by suppliers.
• Negative operating cash flows or adverse key financial ratios.
• Lack of sustainable operating profits.
• Dividend in arrears.
• Difficulty in complying with terms of loan agreements
• Inability to obtain necessary financing.
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• ⾼负债、固定期限或依赖短期借款。
• ⾦融债权⼈退出、⽆⼒偿付债权⼈或供应商拒绝提供贸易信贷。
• 负经营现⾦流或不利的关键财务⽐率。
• 缺乏可持续的经营利润。
• 拖⽋股息。
• 难以遵守贷款协议的条款
• ⽆法获得必要的融资。
财务指标
Examples of indications of going concern
problems
• Operating indicators include:
• Management’s intention to cease operations
• Loss of key management personnel
• Loss of major market, license or franchise
• Prolonged industrial action
• Shortage of important supplies
• Emergence of highly successful competitors.
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• 管理层打算停⽌运营
• 关键管理⼈员流失
• 失去主要市场、执照或特许经营权
• ⻓时间的⼯业⾏动
• 重要物资短缺
• ⾮常成功的竞争对⼿的出现。
持续经营问题的迹象示例
Examples of indicators of going concern
problems
• Other indicators
• Non-compliance with capital or statutory requirements.
• Legal proceedings against the entity.
• Adverse changes in legislation or government policy.
• Uninsured or underinsured disasters.
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• 不遵守资本或法定要求。
• 针对实体的法律诉讼。
• ⽴法或政府政策的不利变化。
• 未投保或投保不⾜的灾难。
Mitigating factors
The auditor should consider mitigating factors. These include:
• Asset factors – sale of assets, or delayed replacement.
• Debt factors – unused lines of credit, ability to renew or extent
existing loans.
• Cost factors – ability to reduce costs
• Equity factors – additional contributions from owners,
subsidiaries or associates.
• 资产因素——资产出售或延迟更换。
• 债务因素——未使⽤的信贷额度、更新或扩⼤现有贷款的能⼒。
• 成本因素——降低成本的能⼒
• 权益因素——来⾃所有者、⼦公司或联营公司的额外贡献。
Analytical procedures
• Analytical procedures involve the use of ratios, trend analysis
and operating statistics for comparison with internal and
external data.
• Can be used at all stages of the audit, but must be performed
at the planning and review stages. It is an optional type of
substantive procedure.
可⽤于审核的所有阶段，但必须在计划和审查阶段执⾏。 它是⼀种可选类型的实质性程序。
Analytical procedures at the planning
stage
• The risk analysis approach requires analytical procedures to
be used during the planning stage of the audit.
• Allows the auditor to understand the business and identify
areas of potential risk, thereby assisting in the determination
of the nature, timing and extent of audit procedures.
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⻛险分析⽅法要求在审计的计划阶段使⽤分析程序。
使审计师能够了解业务并识别潜在⻛险领域，从⽽有助于确定审计程序的性质、时间安排和范围。
Types of analytical procedures
Simple procedures
• Simple comparisons
• Ratio analysis
• Common-size statements
• Trend statements
• Time series analysis
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More complex procedures
• Time series modelling
• Regression analysis
• Financial modelling
• 简单⽐较 • ⽐率分析 • 普通⼤⼩报表 • 趋势报表
• 时间序列分析
• 时间序列建模 • 回归分析 • 财务建模
Analytical procedures most commonly
used in planning
• Comparison of current balances in the financial report with
balances of previous periods and budgeted amounts (simple
comparisons).
• Computation of ratios and percentage relationships for
comparison with previous years, budgets and industry
averages (ratio analysis)
• Significant variations from expectations indicate areas
requiring investigation.
计算⽐率和百分⽐关系，以便与前⼏年、预算和⾏业平均值进⾏⽐较（⽐率分析）
与预期的显着差异表明需要调查的领域。与预期的显着差异表明需要调查的领域。
Ratio analysis
• At the planning stage the auditor is undertaking ratio analysis
on unaudited financial information, thus any ratios not in
accordance with the auditor’s expectations will indicate areas
requiring significant audit attention.
• These ratios may be compared to:
• Industry data:
• Average ratios in industries listed on the ASX
• Internal data:
• Previous years
• Budgets or forecasts
• Segment or division data
将表明需要重点审计的领域。
Ratios commonly used at the planning
stage
1. Short Term Liquidity:
• Current ratio (current assets to current liabilities)
• Quick asset ratio (liquid assets to current liabilities)
• Operating cash flow ratio (cash flow from operations to current
liabilities).
2. Activity:
• Receivables turnover / days in receivables (net sales to average
accounts receivable365 days to receivables turnover).
• Inventory turnover/days in inventory (cost of goods sold to
average inventory/365 days to turnover).
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Ratios commonly used at the planning
stage
3. Profitability:
• Gross profit and net profit ratio (gross profit or net profit to net
sales)
• Return on total assets (net profit before interest and taxes to total
assets)
• Return on shareholders’ equity (net profit to ordinary
shareholders’ equity).
2. Solvency
• Debt to equity ratio (total liabilities to shareholder’s equity)
• Times interest earned (net profit before interest and taxes to
annual interest expense..
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Common size statements
Express balance sheet components as a percentage of total
assets and income statement components as a percentage of
total revenue.
Trend statements
Each item is expressed as a percentage of its own level from a
base year, thus allowing focus on trend rather than absolute
magnitude of dollar change.
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每个项⽬都表示为基准年其⾃身⽔平的百分⽐，因此可以关注趋势⽽不是美元变化的绝对幅度。
Data used in analytical procedures
• Auditor must consider whether data needed are easily
available and their reliability.
• For reliability:
• Data from an independent source outside the entity are generally
more reliable than internal data.
• Data from a system with effective internal controls are more
reliable than data from a poorly controlled system.
• Data audited in the previous year or in the current audit are more
reliable than unaudited data.
• Data from a variety of sources that corroborate each other are
more reliable than data from only one source.
• Data from the department within which the entity that is
responsible for the amount being audited are generally less
reliable than data from another department.
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审核员必须考虑所需数据是否容易获得及其可靠性。
• 来⾃实体外部独⽴来源的数据通常⽐内部数据更可靠。
• 来⾃具有有效内部控制的系统的数据⽐来⾃控制不佳的系统的数据更可靠。
• 上⼀年或本次审计的数据⽐未经审计的数据更可靠。
• 来⾃相互印证的多种来源的数据⽐来⾃单⼀来源的数据更可靠。
• 负责审计⾦额的实体所在部⻔的数据通常不如其他部⻔的数据可靠。
Plausibility, predictability and precision
of analytical relationships
• Relationships in a stable environment are more predictable
than relationships in a changing environment.
• Direct relationships are more predictable than indirect
relationships.
• Disaggregated relationships show clearer relationships than
combined or aggregated relationships.
• Relationships involving Income statement amounts tend to be
more predictable than relationships involving only balance
sheet accounts (amounts at a point in time).
• Relationships involving transactions subject to management
discretion are less predictable than those not subject to such
discretion.
• …
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• 稳定环境中的关系⽐变化环境中的关系更容易预测。
• 直接关系⽐间接关系更容易预测。
• 分解关系⽐组合或聚合关系显示出更清晰的关系。
分析关系的合理性、可预测性和精确性
• 涉及损益表⾦额的关系往往⽐只涉及资产负债表账户（某个时间点的⾦额）的关系更容易预测。
• 涉及受管理⾃由裁量权的交易的关系⽐不受这种⾃由裁量权的交易关系更难预测。
Examination of significant fluctuations
• The auditor must decide which fluctuations are significant and
thus warrant investigation.
• Thus the audit working papers must show:
• Identification of each significant fluctuation
• Explanations provided by management should be considered
• The results of work done to corroborate explanations received.
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审计师必须决定哪些波动是重⼤的，因此需要进⾏调查。
• 识别每个重⼤波动
• 应考虑管理层提供的解释
• 为证实收到的解释所做的⼯作结果。
Inherent risk
Susceptibility of account balance or class of transactions to
material misstatement given inherent and environmental
characteristics, but without regard to internal control.
• An assessment of inherent risk (IR) and Control risk (CR) can
be combined or separate (separate assessment is required in
accordance with revised ASA315). Irrespective of this, an
auditor is required to:
• Assess IR at financial report level.
• Assessment must then be related to assertions at account
balance or class of transactions level when developing audit plan
or program.
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考虑到固有和环境特征，账户余额或交易类别对重⼤错报的敏感性，但不考虑内部控制。
Inherent risk at the financial report level
and business risk
• An entity’s business strategy and associated risks will affect
an auditor’s assessment of inherent risk at the financial report
level.
• Where possible, an auditor traces business risks to areas of a
financial report that are likely to be misstated.
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主体的业务战略和相关⻛险将影响审计师在财务报告层⾯对固有⻛险的评估。
在可能的情况下，审计师将业务⻛险追踪到财务报告中可能被错误陈述的领域。
Factors affecting Inherent risk at financial
report level
• Integrity of management
• Management experience, knowledge and changes during the
period
• Unusual pressure on management
• Nature of the entity’s business
• Factors affecting the industry in which the entity operates
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• 管理层的诚信
• 期间的管理经验、知识和变化
• 对管理层的异常压⼒
• 实体业务的性质
• 影响实体经营所在⾏业的因素
Inherent risk at assertion level
• Inherent risk is greater for some assertions and related
classes of transactions, account balances and disclosures
than for others.
• Auditor will normally focus on:
• Accounts likely to require adjustment
• Complexity of underlying transactions
• Judgment involved in determining account balances
• Susceptibility of assets to loss or misappropriation
• Occurrence of unusual and complex transactions, particularly at
or near year end
• Transactions not subject to ordinary processing.
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某些断⾔和相关交易类别、账户余额和披露的固有⻛险⽐其他⻛险更⼤。
• 可能需要调整的账户
• 基础交易的复杂性
• 确定账户余额所涉及的判断
• 资产容易遭受损失或挪⽤
• 发⽣异常和复杂的交易，特别是在年底或接近年底
• 交易不受常规处理。
Effect of inherent risk on an account
balance assertion
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Final thoughts
• Understanding the entity and its environment is fundamental
not only to assessing inherent risk, but also to interpreting the
audit evidence that is collected.
• Evidence is interpreted through the lens of this understanding.
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• 了解被审计单位及其环境不仅是评估固有⻛险的基础，也是解释收集到的审计证据的基础。
• 通过这种理解的视⻆来解释证据。
Next Step
• The entity may have controls in place that prevent and/or
detect material misstatements.
• The auditor must understand these controls before planning
controls testing and substantive testing.
• In Topic 4, we will look at an understanding of internal
controls and an assessment of control risk.