Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

Make your likes visible on Facebook?

Connect your Facebook account to Prezi and let your likes appear on your timeline.
You can change this under Settings & Account at any time.

No, thanks

Copy of My Desktop template

Thank You for your SUPER MOTIVATING support - in response I created another template you can use, its a PARLA-like story board. .Enjoy.
by

Agape Joy Castillo

on 24 September 2012

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of Copy of My Desktop template

CASE-STUDY2 Forms of Audit Report Action 1: Notes Basic Elements of the Auditor's Standard Report Title Comparative Information Notes b) ___________________ Case-study take aways c) _______________________________ a) ___________ In short _______________________ Matrix Partners preso! Harvard Business Review How to lower the cost of enterprise sales? the primary product of assurance services Form an opinion on the Financial Statements Applicable Financial Reporting Framework Objectives of
the Auditor: Forming an Opinion on the Financial Statements S _ _ _ _ _ _ _ _ _ _ a s e m e d FINANCIAL STATEMENTS MUST ALSO ACHIEVE Chapter Thirteen (General Purpose Reporting Framework) The Auditor's Report Auditing and Assurance Principles! CASE-STUDY Description of Step Two Step one Three Solution description Solution! Results Step four? The Cost to Acquire a Customer (CAC) exceeds the Life Time Value (LTV) a customer brings us. This is my third go-around selling to large enterprises, SkyStream, Kontiki and now Qumu.

I like to explain to you the problem the way I see it, the changes I suggest to avoid making the same mistake again. and Travels to Clients Research from Slides CASE-STUDY3 Research on the Solution room for 4 key slides See the trend? VIDEO ARCHIVE Action 2: Action 3: Requirements for issuing
Audit Reports: PSA 700 And now all is right again Where did you apply the solution EDITOR NOTE: Copy & Paste your own contact data using an iphone screenshot EDITOR NOTE: This is CANDY to encourage people to discover outside the set path ... EDITOR NOTE: Replace covers with magazine covers that are relevant to your problem @IndoJacco For more Prezi templates Prezi template created by: Jacco van der Kooij Artwork licensed through: iStockphoto.com CREDITS Enjoy! PSA 705 PSA 706 Express the opinion through written reports ? ? To achieve Fair Presentation of Financial Statements Addressee Introductory Paragraph Management's Responsibility for
the Financial Statements Auditor's Responsibility Auditor's Opinion Other Reporting Responsibilities Auditor's Signature Date of the Auditor's Report Auditor's Address Title Addresee Introductory Paragraph Management's Responsibility for the Financial Statements Auditor's Responsibility Auditor's opinion Auditor's Signature Date of the Auditor's Report Adverse Opinion Qualified Opinion (cc) image by anemoneprojectors on Flickr Disclaimer of Opinion General Purpose Framework Designed to meet the common financial information needs of a wide range of users Fair presentation framework Used to refer to a financial reporting framework that requires compliance with the requirements of the framework AND: (1) Acknowledges explicitly or implicitly that, to achieve fair presentation of the financial statements, it may be necessary for management to provide disclosures beyond those specifically required by the framework; (2) Acknowledges explicitly that it may be necessary for management to depart from a requirement of the framework to achieve fair presentation of the financial statements Compliance framework Used to refer to a financial reporting framework that requires compliance with the requirements of the framework BUT does not contain the acknowledgements in (1) and (2). To form an opinion, the auditor shall conclude as to whether he had obtained reasonable assurance that the financial statements as a whole are free from material misstatements. What should be taken into account in forming the conclusion? sufficient appropriate evidences materiality of uncorrected misstatements, individually or in aggregate evaluations mandated by PSA 700 (Redrafted) (cc) image by nuonsolarteam on Flickr Also, the auditor shall evaluate whether, in view of the requirements of the applicable financial reporting framework: (a) The financial statements adequately disclose the significant accounting policies selected and applied. (a) The financial statements adequately disclose the significant accounting policies selected and applied. (b) The accounting policies selected and applied are consistent with the applicable financial reporting framework and are appropriate; (a) The financial statements adequately disclose the significant accounting policies selected and applied. (b) The accounting policies selected and applied are consistent with the applicable financial reporting framework and are appropriate; (c) The accounting estimates made by management are reasonable; (a) The financial statements adequately disclose the significant accounting policies selected and applied. (b) The accounting policies selected and applied are consistent with the applicable financial reporting framework and are appropriate; (c) The accounting estimates made by management are reasonable; (d) The information presented in the financial statements is relevant, reliable, comparable and understandable; (a) The financial statements adequately disclose the significant accounting policies selected and applied. (b) The accounting policies selected and applied are consistent with the applicable financial reporting framework and are appropriate; (c) The accounting estimates made by management are reasonable; (d) The information presented in the financial statements is relevant, reliable, comparable and understandable; (e) The financial statements provide adequate disclosures to enable the intended users to understand the effect of material transactions and events on the information conveyed in the financial statements; and (a) The financial statements adequately disclose the significant accounting policies selected and applied. (b) The accounting policies selected and applied are consistent with the applicable financial reporting framework and are appropriate; (c) The accounting estimates made by management are reasonable; (d) The information presented in the financial statements is relevant, reliable, comparable and understandable; (e) The financial statements provide adequate disclosures to enable the intended users to understand the effect of material transactions and events on the information conveyed in the financial statements; and (f) The terminology used in the financial statements, including the title of each financial statement, is appropriate. Modified Report Unqualified Report Unqualified Opinion The overall presentation, structure and content of the financial statements; and Whether the financial statements, including the related notes, represent the underlying transactions and events in a manner that achieves fair presentation. LISTEN. OKAY?! FAIR PRESENTATION. Factors to consider in evaluating: the accounting principles are appropriate in the circumstance the financial statements reflect the underlying transactions and events in a manner that presents the financial position, results of operation, and cash flows stated within a range of acceptable limits. the financial statements, including notes, are informative of matters that may affect their use, understanding and interpretation. Enjoying the lesson?
Ask questions if you want! :) the information presented in the financial statements is classified and summarized in a reasonable manner. the accounting principles selected and applied have general acceptance; (cc) image by nuonsolarteam on Flickr Limits that are reasonable and practicable to attain in the financial statements. It is neither too detailed nor too condensed. Modified Opinion Uncorrected Material Misstatements Inability to obtain sufficient appropriate evidence If material but not pervasive, issue a QUALIFIED OPINION! If material AND pervasive, issue an ADVERSE OPINION disagreements between the auditor and management acceptability of accounting policies selected method of their application adequacy of disclosures in the financial statements Additional Paragraph to the Auditor's Report Other Matter Paragraph Uncertainties Uncertainties about the entity's ability to continue as going concern. Other uses of emphasis of matter paragraphs. Emphasis of Matter Paragraph The auditor shall: a. Include it immediately after the opinion paragraph. b. Use the heading "Emphasis of Matter," or other appropriate heading. c. Include in the paragraph a clear reference to the matter being emphasized and to where relevant disclosures that fully describe the matter can be found in the financial statements d. Indicate that the auditor's opinion is not modified in respect of the matter emphasized. a. Include it immediately after the opinion paragraph and any emphasis of matter paragraph or elsewhere in the auditor's report. b. Use the heading "Other Matter," or other appropriate heading. If material but not pervasive, issue a QUALIFIED OPINION! If material AND pervasive, issue a DISCLAIMER OPINION! When does Scope Limitation occur? -Imposed by entity; or -Circumstances arise that are beyond the control of the auditor. NOTE: Assess the importance of the omitted procedure(s) to the auditor’s ability to form an opinion on the financial statements being audited in deciding whether to issue a qualified opinion or a disclaimer. PSA 705 (Revised and Redrafted). the auditor shall modify the opinion in the auditor’s report in accordance with What else should be included in the audit report if there is a modified opinion? Quantification of the possible effects on the financial statements Clear description of all the substantive reasons These information would be set out in a separate paragraph preceding the opinion or disclaimer opinion; May also include a reference to a more extensive discussion. -The amounts and disclosures included in the financial statements in respect of one or more prior periods in accordance with the applicable financial reporting framework.
Corresponding figures Comparative FS Comparative information where amounts and other disclosures for the prior period are included as an integral part of the current period financial statements, and are intended to be read only in relation to the amounts and other disclosures relating to the current period (referred to as “current period figures”). The level of detail presented in the corresponding amounts and disclosures is dictated primarily by its relevance to the current period figures.
Full transcript