CHAPTER 16 | AUDITING PRODUCTION & PERSONNEL SERVICE CYCLE16-25.

b.Prosedur analitis menunjukkan bahwa persediaan akhir tampaknya dilebih-lebihkan karena masalah harga dalam penilaian persediaan. Manufaktur produktivitas tampaknya telah menurun karena penurunan jumlah unit yang diproduksi per ton bahan baku dan penurunan jumlah unit yang diproduksi per jam tenaga kerja langsung. Selanjutnya, biaya bahan baku meningkat selama bertahun-tahun, seperti yang dilakukan biaya gaji (baik biaya per jam tenaga kerja langsung dan biaya manfaat).

Peningkatan marjin laba kotor tidak sesuai dengan informasi yang mendasari ini berkaitan dengan biaya produksi. Peningkatan dramatis dalam hari persediaan gilirannya, dan biaya per unit persediaan konsisten dengan kenyataan bahwa persediaan tampaknya dinilai terlalu tinggi, mungkin sebagai akibat dari masalah dengan penilaian persediaan (atau mungkin adanya persediaan). Tes Audit harus fokus dengan hati-hati pada biaya membangun-up untuk persediaan akhir, dan alokasi biaya antara persediaan akhir dan harga pokok penjualan

16-27.a. Substantive Test

b. Financial Statement Assertionsc. Type of Evidence

1.Observe client's inventory takingAll except rights and obligations and presentation and disclosurePhysical, oral

2.Verify accuracy of schedules and perpetual records and agreement with inventory balancesValuation or allocationMathematical

3.Consider evidence from sales and purchases cutoff testsExistence or occurrence and completenessDocumentary

4.Observe client'sAll except rights and obligations and presentation and disclosurePhysical, oral

5.Confirm inventories in public warehousesExistence or occurrence, completeness, and rights and obligationsConfirmation

6.Observe client's inventory takingAll except rights and obligations and presentation and disclosurePhysical, oral

7.Test inventory pricingValuation or allocationDocumentary, mathematical

8.Observe client's inventory takingAll except rights and obligations and presentation and disclosurePhysical, oral

9.Inquire of management regarding ownershipRights and obligations, and presentation and disclosureOral

10.Compare statement presentation with GAAPPresentation and disclosureDocumentary

16-27. In performing substantive tests of inventory balances in the audit of the Henning Company, Karlene Kerr,CPA recognizes that the following potential misstatements may occur or exist:a. Identify the substantive test that should detect each error.b. For each test, indicate the financial statements assertion to wchich it pertains.c. Indicate the type of audit procedure used for each substantive test. Jawaban:1. All inventory items are not counted or tagged.a. Mengobservasi atau memantau pada saat proses pengambilan persediaan dan mengecek apakah setiap item sudah diberi label.b. Asersi existence and occurence, completeness, valuation and allocation.c. Tipe audit prosedur: fisikal, oral.2. Extension errors are made on the clients inventory summaries.a. Memverifikasi akurasi dari skedul metode perhitungan persediaan yang digunakan perusahaan. b. Asersi Valuation and allocationc. Tipe audit prosedur: matematikal.3. Purchases receive near the balance sheet date may be included in the physical count but may be not be booked.a. Mencari dan mempertimbangkan bukti dari penjualan seperti faktur dan bukti pembelian dan melakukan cutoff test.b. Asersi existence and occurence, completeness.c. Tipe audit prosedur: matematikal dan cek dokumen.4. Obsolete and damaged goods are not noticed in warehouse. a. Mengobservasi dan mengamati warehouse klien.b. Asersi existence and occurence, completeness, valuation and allocation.c. Tipe audit prosedur: fisikal, oral.5. Invetory stored in public warehouse may not exist. a. Melakukan konfirmasi kepada publik warehouse mengenai ketersediaan item persediaan.b. Asersi existence and occurence, completeness, rights and obligations.c. Tipe audit prosedur: konfirmasi6. Client personnel may incorrectly count the inventory.a. Mengobservasi atau memantau pada saat proses pengambilan persediaan, lalu mengecek ulang perhitungannya.b. Asersi existence and occurence, completeness, Valuation or allocation.c. Tipe audit prosedur: fisikal, oral, matematikal.7. The-lower-of cost-or-market method may be incorrectly applied.a. Melakukan tes inventory pricing.b. Asersi valuation or allocation.c. Tipe audit prosedur: matematikal, cek dokumentasi.8. Empty containers or hollow squares may be included in the inventory.a. Mengobservasi atau memantau proses pengambilan dan penghitungan persediaan.b. Asersi existence and occurence, completeness, valuation and allocation.c. Tipe audit prosedur: fisikal, oral.9. Gooods held on consignment may be included as inventory.a. Melakukan pengecekan dokumen atau catatan persediaan dan inquiry pada manajemen mengenai perjanjian konsinyasi.b. Asersi Rights and obligations, dan presentation and disclosure.c. Tipe audit prosedur: oral, dokumentasi.10. Losses on purchase commitments may not be recognised.a. Membandingkan penyajiannya dengan peraturan akuntansi yang berlaku. b. Asersi Rights and obligations, dan presentation and disclosure.c. Tipe audit prosedur: dokumentasi, matematikal.

16-31.

SUTTER COMPANYW/P REF: ______PPS SAMPLE INVENTORYPREPARED BY: ________DATE______________DECEMBER 31, 20X1REVIEWED BY: ________DATE______________

OBJECTIVE:TO OBTAIN EVIDENCE THAT THE BOOK VALUE OF INVENTORY AT DECEMBER 31, 20X1 IS NOT MATERIALLY MISSTATED.

POPULATION AND SAMPLING UNIT:POPULATION IS THE DOLLAR BALANCE OF INVENTORY; LOGICAL SAMPLING UNIT = LINE ITEM ON INVENTORY LISTING.

SAMPLE SIZE:BOOK VALUE OF POPULATIONRISK OF INCORRECT ACCEPTANCETOLERABLE MISSTATEMENTANTICIPATED MISSTATEMENTSAMPLE SIZE = n = (BV * RF)/(TM - (AM * EP))2,960,0005200,00050,00074(BV)% RF= 3.00(TM)(AM) RF= 1.60(n)

SAMPLE SELECTION:SAMPLING INTERVAL = BV/nRANDOM STARTLOGICAL SAMPLING UNITS SELECTED LISTED ON W/P40,00034,189(SI)

EXECUTION OF SAMPLING PLAN:AUDIT PROCEDURES APPLIED LISTED ON W/P BOON AND AUDIT VALUES FOR SAMPLE ITEMS WITH MISSTATEMENTS LISTED BELOW

EVALUATION OFPROJECTED MISSTATEMENTPROJECTED

SAMPLE RESULTS:BOOKVALUE(BV)AUDITVALUE(AV)TAINTING% (TP) =((BV - AV)/BV)SAMPLINGINTERVAL(SI)MISSTATEMENT(TP * SI) OR(BV - AV)

1234515,70056,00023,000

94,90012,50050,40022,040

85,00020.00NA5.0040,000NA40,000

TOTAL8,0005,6002,000

15,600

(PM)

ALLOWANCE FOR SAMPLING RISK: BASIC PRECISION = RF * SI INCREMENTAL ALLOWANCE: RANKED INCREMENTAL CHANGE IN PROJECTED RELIABILITY FACTOR MISSTATEMENTS MINUS ONE120,000

INCREMENTALALLOWANCE FORSAMPLING RISK(BP)

123458,0002,0000000.750.550.460.400.366,0001,100000

TOTAL7,100(IA)

ASR = BP + IA127,100(ASR)

UPPER MISSTATEMENT LIMIT: UML = PM + ASR142,700(UML