Ngày tải lên :
15/03/2014, 20:20
... Considerationoftheneedforanemphasisof
matterparagraphintheauditor’sreportwillbe
adifcultmatterofjudgmenttobemadeinthe
contextoftheentity’scircumstances;themere
existenceofthecreditcrisis,thoughreferred
tointhenancialstatements,doesnotofitself
createtheneedforanemphasis.
ThisalertisissuedbystaffoftheInternational
AuditingandAssuranceStandardsBoard(IAASB)
toraiseauditors’awarenessaboutmattersrelevant
totheconsiderationoftheuseofthegoingconcern
assumptioninthepreparationofthenancial
statementsinthecurrent environment. Inparticular,
management,thosechargedwithgovernanceand
auditorsalikewillbefacedwiththechallengeof
evaluatingtheeffectofthecreditcrisisand economic
downturnonanentity’sabilitytocontinueasagoing
concernandwhethertheseeffectsontheentityought
tobedescribed,orotherwisereected,inthenancial
statements.
WhiletheStaffAuditPracticeAlert,“Challenges
inAuditingFairValueAccountingEstimatesin
theCurrentMarket Environment [October2008],”
referstogoingconcerninthecontextoftheeffects
ofvaluationinilliquidmarkets,thisalertaddresses
widerissuesthatarelikelytoberelevanttoauditors
ofentitiesinallindustriesandofallsizes.While
thisalertrefersprincipallytoISA570,otherISAs
containrequirementsandguidancetoassisttheauditor
indealingwithotherissuesthatmayalsorequire
particularattentioninthecurrent environment, such
asinventoryvaluationandallowancesfordoubtful
receivables.
Thisalertdoesnottakeaccountofmattersspecic
toindustriesorjurisdictions,bothofwhichwillbe
relevanttotheissuesdiscussedbelow.Government
responsestothecriseshavebeensubstantial,but
varied.Thusinsomejurisdictionscertainaspects
ofcreditavailabilitymayhavebeenresolvedwhile
otherscontinuetocausedifculties;andtheparticular
matterstackledbygovernmentsmaydifferasbetween
jurisdictions.Similarly,governmentshavebeen
consideringassistancetocertainindustries,thenature
ofwhichmayhaveamaterialeffectonthematters
discussedinthisalert.Further,theeffectofthecredit
crisisand economic downturnvariesbothastoits
severityandtimingdependingontheindustryandthe
jurisdiction.
AUDIT CONSIDERATIONS in RESPECT of GOING CONCERN
in the CURRENT ECONOMIC ENVIRONMENT
This ... Althoughcentralbankshavebeenreducinginterestratesinanattempttostimulate economic activityinthecurrent environment, banksmaynotnecessarilybe
passingonsuchreductionstocustomersastheyseektoimprovemarginsandreectrevisedriskassessments.
About ... ISAs
WhilethisalertrefersprincipallytoISA570,other
ISAscontainrequirementsandguidancethatmay
assumemoreimportanceinthecurrent environment.
Forexample:
• ISA240(“TheAuditor’sResponsibilityto
ConsiderFraudinanAuditofFinancialState-
ments”),inparticularfraudriskfactorsarising
from economic pressures;
•...