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Standar Pekerjaan Lapangan:

Audit ats Sales Revenues danAccount Receivables

Pertemuan 9

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Tujuan Pembelajaran: Memahami standar pemeriksaan lapangan terkait

dengan audit atas Sales Revenues dan AccouuntReceivables

Memahami tujuan dari audit atas Sales Revenuesdan Accouunt Receivables

Memahami internal control atas Sales Revenues danAccouunt Receivables

Memahami dasar pencatatan Sales Revenues danAccouunt Receivables

Memahami dan mampu membuat prosedur auditatas Sales Revenues dan Accouunt Receivables

Menyusun temuan audit atas Sales Revenues danAccouunt Receivables

Membuat surat konfirmasi piutang

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SPAPSA 300 Standar Pekerjaan Lapangan

SA 311Perencanaan dan Supervisi SA 312Resiko Audit dan Materialitas dalam

Pelaksanaan Audit

SA 313Pengujian Substantif sebelum TanggalNeraca

SA 314Penentuan Resiko dan Pengendalian Intern

SA 316Pertimbangan atas Kecurangan dalam AuditLaporan Keuangan

SA 318Pemahaman atas Bisnis Klien SA 325Komunikasi Masalah yang Berhubungan

dengan Pengendalian Intern yang ditemukandalam suatu Audit.

SA 330Proses Konfirmasi

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Understanding the Process of

Credit Sales Points of activities

Units/functions involve in the process of

credit sales

Documents to record the process.

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Business functions and the related

documents and records in the sales and

collection cycle Processing customer order

Granting credit

Shipping goods Billing customers and recording sales

Processing and recording cash receipts

Processing and recording sales return andallowances

Charging of uncollectible A/R

Providing for bad debts

(see Arens Table 13-1 p. 373)

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Common Documents and Records

of SR andA/R Customer Order

Sales Order

Shipping Document

Sales Invoice Authorized Price List

Sales Transaction Files

Sales Journal Customer Master File

A/R Master File

Customer Monthly Statement

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Components of

Internal Control of Cash The control environment

Risk assessment Control activities

Information and Communication

Monitoring

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Inherent Risk, including the Risk of Fraud

Pressure to overstate revenues in order to reportachieving announced revenue and profit targets

Pressure to overstate cash and grossreceivables or understate the allowance fordoubtful accounts.

The timing of amount to be recognized(Accounting standards used)

When receivables are factoredclassification ?

Classification of A/RCurrent vs non current ?

Sales adjustment transactions may be used toconceal theft or lapping

Lapping

Window dressing

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Types of Evidence

1. Inquires of the Client2. Observation

3. Analytical Procedures

4. Documentation5. Reperformance

6. Confirmation

7. Physical Examination

Diskusikan contoh implementasinya !

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Audit Procedures

Audit Procedure ?

is the steps should be done sequentiallyin

order to achieve the audit objectives.

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Audit Objectives of SR and A/R Transaction Objectives

Occurrence

Completeness

Accuracy

Cut offClassification

Balance Objectives

Existence

Completeness

Rights and obligations

Valuation and Allocation

(Boynton Modern Auditing 8ed p 631)

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Audit Objectives of Cash

Disclosure Objectives

Occurrence and Right and Obligation

Completeness

Classification and understandability

Accuracy and Valuation

(Boynton Modern Auditing 8ed p 631)

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Confirmation Letter(1)

Methods of Confirmation Positive Confirmation

Bad internal control system

Most of the balance of receivables are big Number of receivables are few (not many)

Long standing of receivables

Negative Confirmation

Good internal control system

Many receivables with small balance

Short standing of receivables

Confirmation Request Form see word file

http://localhost/var/www/apps/conversion/tmp/scratch_9/CONFIRMATION%20LETTER%20FORM.dochttp://localhost/var/www/apps/conversion/tmp/scratch_9/CONFIRMATION%20LETTER%20FORM.dochttp://localhost/var/www/apps/conversion/tmp/scratch_9/CONFIRMATION%20LETTER%20FORM.dochttp://localhost/var/www/apps/conversion/tmp/scratch_9/CONFIRMATION%20LETTER%20FORM.dochttp://localhost/var/www/apps/conversion/tmp/scratch_9/CONFIRMATION%20LETTER%20FORM.dochttp://localhost/var/www/apps/conversion/tmp/scratch_9/CONFIRMATION%20LETTER%20FORM.dochttp://localhost/var/www/apps/conversion/tmp/scratch_9/CONFIRMATION%20LETTER%20FORM.doc

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Methods for Recording

Uncollectibles Direct Write Off Method

Allowance Method

Percentage of Sales (Income Statement)

Approach

Percentage of Receivables (Balance Sheet)

Approach

Aging Schedule

Individual of Receivable (in practice)

How to record the collection of Receivables

written off ?

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Examples of Audit Findings of

Fixed Assets

Assignment for students:

Write an hypothetical audit finding of fixed

assets ! Condition

Criteria

Causes Effects

Recommendation