Completing

The Audit
Millah Sucilia R 11160820000046
Rizki Dianti 11160820000050
Fauzan Hardianto 11160820000052
Diniyas Ronggo N 11160820000072
 LEARNING
OBJECTIVES

Making Subsequent Events Review 1

Reading Minutes of Meetings 2
Obtaining Evidence Concerning Litigation,
Claims, and Assessments 3
Representation Letter 4

5 Evaluating The Findings

6 Evaluating Going Concern

7 Making Technical Riview Of Financial Statements

8 Management Letter
 Summary of the
Audit Process
Perform analytical
Plan and design procedures and
Phase I Phase III
an audit approach. tests of details
of balances.

Perform tests of
Complete the
controls and
Phase II Phase IV audit and issue
substantive tests
an audit report.
of transactions.
 Phase IV –
Completing the Audit
Review for
Evaluate results
contingent
liabilities

Issue audit report

Review for
subsequent events
Communicate with
Accumulate audit committee
final evidence and management
Making
Subsequent
Events
Review
Making
Subsequent Option 1

Events Option

Review Type 1

Type 2

1. Types of Events

2. Auditing Procedures in the

Subsequent Period

3. Effects on Auditor’s Report

Making
Subsequent
Events
Review
Cont.
Reading
Minutes of
Meetings
Reading
Minutes of
Meetings

The auditor must determine that all minutes of

the board meeting held during the period
being audited and during the period from the
ballence sheet date to the end of thr fieldwork
must be submitted to him for review
Obtaining
Evidence
Concerning
Litigation,
Claims, and
Assessments
Obtaining
Evidence The FASB in SFAS 5,
Concerning defines contingencies as
conditions, situations, or a series
Litigation, of existing situations that involve
uncertainty regarding possible
Claims, and profits (contingency gains) and
losses (contingency losses).
Assessments
Audit Considerations
The FASB in SFAS 5,
defines contingencies as
conditions, situations, or
a series of existing Letter of Audit Inquiry
situations that involve
uncertainty regarding
possible profits
(contingency gains) and Effects of Responses on
losses (contingency Auditor’s Report
losses).
Letter of Audit Inquiry
Representation
Letter
Representation
Letter
Auditors are required to obtain certain written representations from
management in fulfilling the third hand of fieldwork. This can be
achieved through client representation letters, commonly known as
representation letters. AU 333, Management Representations,
explains that representation is part of evidence but is not a substitute
for the application of audit procedures needed to obtain a
reasonable basis for an opinion

Content of the
representation letter
1

Influence on
Auditor Report
Evaluating
The Findings
Evaluating
The Findings

Known Projected
Misstatements 01 02 Uncorrected
Misstatements
(Sampling
Techniques)

Estimated
Uncorrected
03 Misstatements
Lorem (Analytical
Procedures)

Likely Misstatement

Aggregate Likely Misstatement

Evaluating
Going
Concern
 Evaluating
Going
Concern

Substantial Substantial
Doubt Doubts
Exists Persists
• Obtain • Consider
information of adequacy of
management’s disclosure
plans
• Include
• Assess explanatory
likelihood of paragraph
effective
implementation
Making
Technical
Riview Of
Financial
Statements
Making
Technical
Riview Of
Financial
Statements
Before issuing an audit report on a
client who is a public company,
technical reviews must also be made
on the on the report by partner who are
not members of the audit team.
Management
Letter
Management
Letter

Internal Tax-related
Control Recommendations
Matters
Matters regarding the
management of
resources
THANK
YOU