Chapter03 Audit Reports(审计学-英文版)
标准审计报告 英文版
标准审计报告英文版Standard Audit Report[Name of the Audit Firm][Address][City, State, Zip Code][Date]To the Shareholders of [Company Name]We have audited the financial statements of [Company Name] (the "Company") as of [Balance Sheet Date], and for the year then ended, which comprise the balance sheet as of [Balance Sheet Date] and the income statement, statement of changes in equity, and cash flow statement for the year then ended, and summary of significant accounting policies and other explanatory notes.Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with [Applicable Accounting Framework], and for such internal control as management determines is necessary to enable the preparationof financial statements that are free from material misstatement, whether due to fraud or error.Auditor's ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the International Standards on Auditing. Those standards require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.OpinionIn our opinion, the financial statements present fairly, in all material respects, the financial position of [Company Name] as of [Balance Sheet Date], and the results of its operations and its cash flows for the year then ended in accordance with [Applicable Accounting Framework].[Name of the Audit Firm] [City, State, Zip Code]。
审计报告材料英文版(全).docx
AUDITOR ’ S REPORTYue Hua Shen / Yan Zi (2014)No.0002ICPA filing number: 020201401000420To all shareholders of ****** Co., Ltd:We have audited the accompanying financial statements of ****** Co.,Ltd (“ Your Company ” ), which comprise the balance sheet as of31 December 2013, the income statement,statement of changes in owner'sequity and cash flow statement for the year then ended, and notes to thefinancial statements.I. Management’ s responsibility for the financial statementsManagement of your Company is responsible for the preparation and fair presentation of financial statements. This responsibility includes: (1)in accordance with the Accounting Standards for Business Enterprises and its relevant provisions, preparing the financial statements andreflecting fair presentation; (2) designing, implementing and maintainingthe necessary internal control in order to free financial statements frommaterial misstatement, whether due to fraud or error.II. Auditors' responsibilityOur responsibility is to express an opinion on these financialstatements based on our audit. We conducted our audit in accordancewith Chinese Certified Public Accountants Auditing Standards.Those standards require that we comply with ethical requirements and plan andperform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement.An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.The procedures selected depend on the auditors'judgment, including the assessment of the risks of material misstatement of the financial statements,whether due to fraud or error.In making those risk assessments, we consider the internal control relevant to the preparationand fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances,but not for the purpose of expressing an opinion on the effectiveness of the internal control.An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management,as well as evaluating the overall presentation of the financial statements.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.III.OpinionIn our opinion, the financial statements of your Company have beenprepared in accordance with the Accounting Standards for BusinessEnterprise and its relevant provisions in all material respect, and presentfairly the financial position of your Company as of 31 December 2013,and the results of its operations and cash flows for the year then ended.Guangdong Huaxin Accounting Firm (general partner)Guangdong, ChinaChinese Certified Public Accountant:Chinese Certified Public Accountant:January 3, 2014BALANCE SHEETAS OF 31 DECEMBER 2013Unit: RMB YuanCompany: ****** Co., LtdAsset Ending Beginnin Liabilities and all Ending Beginninbalance g parties ’equity (or balance gBalance shareholders' equity)Balance Current Assets:Current liabilities:Monetary funds Short-termborrowingsTransaction financial Transaction financialasset liabilitiesNotes receivable Notes payableAccount receivable Account payableAccount paid in Account received inadvance advanceInterest receivable Employee’scompensationpayableDividend receivable Tax payableOther account Interest payablereceivableInventories Dividend payableNon-current assets Other accountdue within 1 year payableOther current assets--Non-currentliabilities due within 1yearTotal current assets-Other currentliabilitiesNon-current assets:Total current-liabilitiesAvailable for sale Non-currentfinancial assets liabilities:Maturity investments Long-termborrowingsLong-term account Bonds payablereceivablesLong-term equity Long-term accountinvestment payableInvesting property Special payablesFixed asset Accrued liabilitiesProject in Deferred tax liabilitiesconstructionEngineering material Other non-currentliabilitiesFixed asset disposal Total non-current--liabilitiesProduction biological Total liabilities-assetsOil and gas assets Owner ’s equity( orshareholders’equity)Intangible assets Paid-in capital(orshare capital)Development Capital surplus-expenseGoodwill Less: Treasury StockLong-term expense Earned surplusto be apportionedDeferred tax assets Retained earnings-Other non-current Total owner’s equity-assets(or shareholders’equity)Total non-current-assetsTotal assets-Total liabilities and-owner’ s equity(orshareholders’equity)Prepared by:Audited by:Finance Manager:CompanyLeader:INCOME STATEMENTFOR THE YEAR ENDED 31 DECEMBER 2013Unit: RMBYuanCompany: ****** Co., LtdItems Cumulative Amount inamount in this last yearyearI. Operating incomeMinus: Operating costTaxes and associate chargesSelling and distribution expensesAdministrative expenses-Financial expense-Asset impairment lossPlus: gain from change in fair value( losswith ‘- ‘ )Gain from investment ( loss with‘-‘)Including:income form investment onaffiliated enterprise and joint enterpriseII. Operating profit (loss with‘-‘)-Plus: non-business income--Less: non-business expenseIncluding:loss from non-current assetdisposalIII. Total profit (loss with‘-‘)-Less: Income taxIV. Net profit (loss with‘-‘)-V. Earnings per share(I) basic earnings per share(II) diluted earnings per shareVI. Other comprehensive earningsVII. Total comprehensive earnings-Prepared by:Audited by:Finance Manager:Company Leader:CASH FLOW STATEMENTFOR THE YEAR ENDED 31 DECEMBER 2013Unit: RMBYuanCompany: ****** Co., LtdItems Times Amount in Cumulative this year amount in lastyear1.Cash flows arising from operating 0 activities:Cash received from sales of goods or 1 rending ofservicesRefund of tax and fare received2 Other cash received relating to3 operating activitiesSub-total of cash inflows4 Cash paid for goods and services5 Cash paid to and on behalf of employees6 Tax and fare paid7 Other cash paid relating to operating8 activitiesSub-total of cash outflows9 Net cash flow from operating activities10 2. Cash flows arising from investment0 activitiesCash received from return of11 investmentsCash received from investment income12 Net cash received from disposal of fixed13 assets, intangible assets and otherlong-term assetsNet cash received from disposal of14 subsidiaries and other business unitsOther cash received relating to15investment activitiesSub-total of cash inflows16 Cash paid for acquiring fixed assets,17 intangible assets and other long-term assetsCash paid for acquiring investments18 Net cash received from subsidiaries and19 other business unitsOther cash paid relating to investment20 activitiesSub-total of cash outflows21 Net cash flow from investing activities22 3.Cash flows arising from financing 0 activities:Cash received from absorbing 23 investmentCash received from borrowings24 Other cash relating to financing25 activitiesSub-total of cash inflows26 Cash paid for settling debt27 Cash paid for distribution of dividends28or profit or reimbursing interestOther cash payments relating to 29 financing activitiesSub-total of cash outflows30 Net cash flow from financing activities31 4. Influence on cash due to fluctuation in34 exchange rate increase in cash and cash 35 equivalentsAdd : Balance of cash and cash 36 equivalents at the beginning of the year6. Balance of cash and cash equivalents37 at the end of the yearSupplementary information:0 Attached project of cash flow statement0 1. Net profit is adjusted to cash flow of0 operating activitiesNet profit38 Impairment of assets39 Fixed asset depreciation, depletion of oil40 and gas assets and depreciation of productive biological assetsAmortization of intangible assets41 Amortization of long-term prepaid42 expensesTreatment of losses of fixed assets,43 intangible assets and other long-term assetsLoss on retirement of fixed assets44 Loss of changes in fair value45 Finance costs46 Investment losses47 Decrease in deferred income tax assets48 Increase in deferred income tax liabilities49 Decrease in inventories50 Decrease in operating receivables51 Increase in operating payables52 Others53 Net cash flow from operating activities54 2.Investing and financing activities not 0 relating to cashDebt into capital55 Convertible debt due within one year56 Finance leased fixed assets57 increase in cash and cash 0 equivalentsBalance of cash at the end of this period58Less: balance of cash at the beginning of59this periodAdd: balance of cash equivalents at the60end of this periodLess: balance of cash equivalents at the61beginning of this periodNet increase in cash and cash62equivalentsPrepared by:Audited by:Finance Manager:CompanyLeader:STATEMENT OF CHANGES IN OWNERS’ EQUITYFOR THE YEAR ENDED 31 DECEMBER 2013Company: ****** Co., LtdItems Amount in this year Amount in last yearPaid-Capit Earne Retai Total Paid Cap Earn Ret Totaup al d ned owne-up ital ed aine lcapit surpl surpl earni rs'capi surp surp d ownal us us ngs equit tal lus lus ear ers'实用标准文案I. balance at the end of last yearAdd:change of accounting policy Correction of errorsinprevious periodII.Balance at the beginning of this year III. Increase/ decrease ofy nin equigs ty -------------------------------------amount in this year “(-”means decrease)(I) Net profit(II)Gains and losses directly included in the owners ’ equity change amount in fair value ------------------实用标准文案of financial assets available for sale2.Influence of changes in other owners'equity of investors under the equity method3.Influence of income tax relating to the owners’equity project --------------------4. OthersSubtotal of (I) and (II) (III)Input an reduced capital of owners1. Input capital of owners2.Amount of shares included in the-----------------------------------owners ’ equity3. Others--------实用标准文案(IV) Profit distribution1.Withdrawing earned surplus2.Distribution to all owners (or shareholders)3.Others(V)Internal carrying forward of owners ’equity1.Capital surplus transfers to paid-in capital(or share capital)2.Earned surplus transfers to paid-in capital(or share capital)3.Earned surplus makes up losses ------------------------------------------------------------------------------4. Others--------IV. Balance at the end------of this periodLegal representative:Person in charge of accounting:Leader ofaccounting department:****** CO., LTDNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED DECEMBER 31, 2013(All amounts in RMB Yuan)I. Company Profile******* Co., Ltd. (hereinafter referred to as the "Company") is a limitedliability company (Sino-foreign joint venture) jointly invested andestablished by **** Co., Ltd. and ******* Limited on 24 June 2013. OnDecember 26, 2013, the shareholders have been changed to***** CO., LTD and ******* LIMITED.Business License of Enterprise Legal Person License No.:Legal Representative:Registered Capital: RMB(Paid-in Capital: RMB)Address:Business Scope: Financing and leasing business; leasing business; purchase of leased property from home and abroad; residue value treatment and maintenance of leased property;c onsulting andguarantees of lease transaction (articles involved in the industry licensemanagement would be dealt in terms of national relevant stipulations)II. Declaration on following Accounting Standard for BusinessEnterprisesThe financial statements made by the Company are in accordance withthe requirements of Accounting Standard for Business Enterprises, whichreflects the financial position, financial performance and cash flow of theCompany truly and completely.III. Basic of preparation of financial statementsThe Company implements the Accounting Standards for BusinessEnterprises(‘ Finance and Accounting[2006]No.3” ) issued by theMinistry of Finance on February 15, 2006 and the successive regulations.The Company prepares its financial statements on a going concern basis,and recognizes and measures its accounting items in compliance withthe Accounting Standards for Business Enterprises–Basic Standardsand other relevant accounting standards,application guidelines and criteria for interpretation of provisions as well as the significantaccounting policies and accounting estimates on the basis of actual transactions and events.IV. The main accounting policies, accounting estimates and changesFiscal yearThe Company adopts the calendar year as its fiscal year from January 1to December 31.Functional currencyRMB was the functional currency of the Company.Accounting measurement attributeThe Company adopts the accrual basis for accounting treatments and double-entry bookkeeping of borrowing for financial accounting.Thehistorical c ost is generally as the measurement attribute, and whenaccounting elements determined are in line with the requirements of Accounting Standards for Enterprises and can be reliably measured, the replacement cost, net realizable value and fair value can be used for measurement.Accounting method of foreign currency transactionsThe Company’s foreign currency transactions adopt approximate spotexchange rate of the transaction date to convert into RMB in accordancewith systematic and rational method; on the balance sheet date,theforeign currency monetary items use the spot exchange rate of the balance sheet date. All balances of exchange arising from differencesbetween the balance sheet date spot exchange rate and the initialrecognition or the former balance sheet date spot exchange rate, exceptthat the exchange gains and losses arising by borrowing foreign currencyfor the construction or production of assets eligible for capitalization aretransacted in accordance with capitalization principles,are included inprofit or loss in this period;the foreign currency non-monetary items measured at historical cost will still be converted with the spot exchangerate of the transaction date.The standard for recognizing cash equivalentWhen making the cash flow statement, cash on hand and depositsreadily to be paid will be recognized as cash, and short-term (usually nomore than three months), highly liquid and readily convertible to knownamounts of cash with insignificant risk of changes in value arerecognized as cash equivalent.Financial InstrumentsClassification, recognition and measurement of financial assets- The company at the time of initial recognition of financial assets dividesit into the following four categories: financial assets measured at fairvalue with changes included in the profit or loss of this period, loans andreceivables, financial assets available for sale and held-to-maturityinvestments. Financial assets are measured at fair value when initially recognized. Relevant t ransaction costs of financial assets measured atfair value with changes included in the profit or loss of this period arerecognized in profit or loss of this period, and relevant transaction costsof other categories of financial assets are recognized in the amount initially recognized.--Financial assets measured at fair value with changes included in theprofit or loss of this period refer to the short-term sales financial assets, including financial assets held for trading or financial assets measured atfair value with changes included in the profit or loss of this period designated upon initial recognition by the management. Financial assets measured at fair value with changes included in the profit or loss of thisperiod are subsequently measured at fair value, and the interest or cash dividends obtained during the holding period will be recognized as investment income, and the gains or losses of the change in fair value atthe end of this period are recognized in the profit or loss in this period. When it is disposed, the difference between the fair value and the initial recorded amount is recognized as investment income, while adjusting gains from changes in the fair value.--Loans and receivables: the non-derivative financial assets without theprice in an active market and with fixed and determinable recovery costare classified as loans and receivables. Loans and receivables adopt theeffective interest method and take amortized cost for subsequent measurement,and gains or losses arising from derecognition,impairment or amortization are included in the profit or loss of this period.-- Financial assets available for sale: including non-derivative financial assets available for sale recognized initially and other non-derivative financial assets except for loans and receivables, held-to-maturity investments and trading financial assets.Financial assets available for sale are subsequently measured at fair value,and interest or cash dividends obtained during the holding period will be recognized as investment income, and gains or losses arising from the changes in fairvalue at the end of this period are recognized directly in owners' equityuntil the financial asset is derecognized or impaired and then is recognized as the profit or loss in this period.--Held-to-maturity investments: the non-derivative financial assets withclear intention and ability to hold to maturity by the management of the company, a fixed maturity date and fixed or determinable payments areclassified as held-to-maturity investments. Held-to-maturity investmentsadopt the effective interest method and take amortized cost for subsequentmeasurement,and gains or losses arisingfromderecognition, impairment or amortization are included in the profit orloss of this period.Classification, recognition and measurement of financial liabilities- The company at the time of initial recognition of financial liabilitiesdivides it into the following two categories: financial liabilities measuredat fair value with changes included in the profit or loss of this period andother financial liabilities. Financial liabilities are measured at fair value when initially recognized. Relevant transaction costs of financial liabilitiesmeasured at fair value with changes included in the profit or loss of thisperiod are recognized in profit or loss of this period, and relevant transaction costs of other financial liabilities are recognized in the amount initially recognized.-- Financial liabilities measured at fair value with changes included in theprofit or loss of this period include the trading financial liabilities andfinancial liabilities measured at fair value with changes included in theprofit or loss of this period designated upon initial recognition. Financialliabilities are subsequently measured at fair value, and the gains or lossesof the change in fair value are recognized in the profit or loss in this period.--Other financial liabilities: adopting the effective interest method andtaking amortized cost for subsequent measurement. The gains or lossesarising from derecognition or amortization is included in the profit or loss of this period.Requirements for derecognition of financial liabilitiesFinancial liabilities shall be entirely or partially derecognized if the present obligations derived from them are entirely or partiallydischarged.Where the Company enters into an agreement with a creditor so as to substitute the current financial liabilities with new ones,and the contract clauses of which are substantially different from thoseof the current ones, it shall recognize the new financial liabilities in placeof the current ones. Where substantial revisions are made to some or allof the contract clauses of the current financial liabilities,the Company shall recognize the new financial liabilities after revision of the contractclauses in place of the current ones entirely or partially.Upon entire or partial derecognition of financial liabilities,differences between the carrying amounts of the derecognized financial liabilities and the consideration paid (including non-monetary assets surrenderedor new financial liabilities assumed) are charged to profit or loss for thecurrent period.Where the Company redeems part of its financial liabilities,it shall allocate the carrying amounts of the entire financial liabilities betweenthe relative fair values of the parts that continue to be recognized andthe derecognized parts on the redemption date. Differences between thecarrying amounts allocated to the derecognized parts and the consideration paid (including non-monetary assets surrendered and thenew financial liabilities assumed)are charged to profit or loss for the current period.Recognition and measurement for transfer of financial assetsIf the Company has transferred nearly all of the risks and rewards relatingto the ownership of the financial assets to the transferee, they shall bederecognized. If it retains nearly all of the risks and rewards relating tothe ownership of the financial assets, they shall not be derecognized andwill be recognized as a financial liability. If the Company has not transferred nor retained nearly all of the risks and rewards relating to the ownership of the financial assets: (1) to give up the control of thefinancial assets to be derecognized; (2) not giving up control of the financial asset to be recognized based on the extent of its continuing involvement in the transferred financial assets and liabilities arerecognized accordingly.If the transfer of entire financial assets satisfy the criteria for derecognition,differences between the amounts of the following twoitems shall be recognized in profit or loss for the current period: (1) thecarrying amount of the transferred financial asset; (2) the aggregateconsideration received from the transfer plus the cumulative amounts ofthe changes in the fair values originally recognized in the owners’ equity.If the partial transfer of financial assets satisfy the criteria for derecognition,the carrying amounts of the entire financial assets transferred shall be split into the derecognized and recognized parts according to their respective fair values and differences between the amounts of the following two items are charged to profit or loss for thecurrent period: (1) the carrying amounts of the derecognized parts;(2) The aggregate consideration for the derecognized parts plus the portionof the accumulative amounts of the changes in the fair values of the derecognized parts which are originally recognized in the owners’equity.Determination of the fair value of financial instruments-If financial instruments trade in an active market, the quoted price in anactive market determines its fair value; if financial instrument trade not inan active market, the valuation techniques determine the fair value.Valuation techniques include recent market transaction price reference to the familiar situation and volunteer transaction, current fair valuereference to other substantially similar financial instruments, discountedcash flow method and option pricing model and so on.Test and Provisions for impairment loss on financial assets--Except trading financial assets, the Company makes assessment on thecarrying values of financial assets at the balance sheet date. If there isevidence that the fair value of specific financial asset has been impaired,provisions for impairment loss is made accordingly.--Measurement of impairment of financial assets measured atamortized costIf there is objective evidence that the financial asset measured at amortized costhas been impaired, the carrying amount of the financialasset is written down to the present value of estimated future cash flows (excluding future credit losses that have not yet occurred), and the amount of reduction is recognized as impairment loss and is recognizedin the profit or loss of this period. The Company carries out the impairment test of significant single financial asset separately, carries outthe impairment test on insignificant single financial asset from a single or combination of angles, and carries out the impairment test on single asset without objective evidence of impairment along with the financialassets with similar credit risk characteristics to constitute a combination, but does not carry out the impairment test on the provision for impairment of financial assets based on the single in the portfolio. In the subsequent period, if there is objective evidence that the value of financial asset has been restored and recognized relevant to the objective matters occurring after the impairment, previously recognizedimpairment loss shall be reversed and charged into the profit or loss ofthis period. But the book value after the reversal should not exceed theamortized cost at the reversal date of the financial assets supposed no provision for impairment.When the financial assets measured at amortized cost actually occur loss, offset against the related provision forimpairment.-- Available for sale financial assetsIf there is objective evidence that an impairment of available for salefinancial assets occurs,even though the financial asset has not been derecognised, the cumulative loss of decrease of the faire value originally recorded in the owner's equity should be transferred out and charged into the current profit and loss.The cumulative loss is the initial acquisition cost of available for sale financial assets, deducting the fairvalue of the withdrawing principal and amortization amount and impairment loss as well as net impairment amount originally charged into the profit or loss.Recognition and provision for bad debts of accounts receivableIf there is objective evidence that receivables are impaired at the end ofthis period, the carrying value will be written down to its present value of estimated future cash flows, and the amount of reduction is recognizedas impairment loss and is recognized in the current profit or loss. Presentvalue of estimated future cash flows is determined through future cashflows (excluding credit losses that have not been incurred) discounted atthe original effective interest rate,taking into account the value of related collateral(less estimated disposal costs, etc.).Original effective interest rate is the actual interest rate when the receivables are recognized initially.The estimated future cash flows of short-term receivables have small difference from the present value,and the estimated future cash flows are not discounted in determining the related impairment loss.The significant single receivables are separately carried out impairmenttest at the end of this period, and if there is objective evidence that theimpairment has occurred, based on the difference of the present value offuture cash flows less than the book value, the impairment loss is recognized and the provision of bad debts is done. The significant singleamount refers to top five receivable balances or the sum of payments accounting for more than 10% of receivable balances.If there is objective evidence that the individual non-significant receivables impairment has occurred, separate impairment test is done,the impairment loss is recognized and the provision for bad debts is done;other individual non-significant receivables and receivables not impaired after separate test are together divided into several combinations for impairment testing with aging as the similar credit risk characteristics,to determine the impairment loss and do provision for bad debts.In addition to separate provision for impairment of receivables,the company is based on the actual loss rate of receivable portfolio with thesame or similar to the previous year and aging as the similar credit risk characteristics, and combines the current situation to determine the ratioof provision for bad debts as follows:Aging Ratio of provisionWithin one year5%。
英文安永审计报告
英文安永审计报告Audit ReportThe audit report is a comprehensive document that provides an independent assessment of an organization's financial statements, internal controls, and compliance with relevant laws and regulations. As a leading professional services firm, Ernst & Young (EY) is renowned for its expertise in conducting rigorous audits and delivering insightful analysis to its clients. This report outlines the key findings and recommendations from the EY audit of the financial statements of a client organization for the fiscal year ended December 31 2022.Financial Statements ReviewThe audit team conducted a thorough examination of the client's financial statements including the balance sheet, income statement, statement of cash flows, and related notes to the financial statements. The team's review focused on ensuring the accuracy, completeness, and fair presentation of the financial information in accordance with generally accepted accounting principles (GAAP).Overall the audit team found that the financial statements presentfairly in all material respects the financial position of the organization as of December 31 2022 and the results of its operations and its cash flows for the year then ended in conformity with GAAP. The team identified no material misstatements or exceptions in the financial reporting.The balance sheet as of December 31 2022 reflects total assets of $125 million and total liabilities of $75 million resulting in total shareholders' equity of $50 million. The income statement for the year ended December 31 2022 shows total revenues of $200 million and net income of $20 million. The statement of cash flows demonstrates the organization generated $30 million in net cash from operating activities.Internal Controls AssessmentA key component of the audit involved evaluating the design and operating effectiveness of the organization's internal control environment. The audit team conducted walkthroughs of key business processes interviewed personnel and tested relevant controls to assess their adequacy in mitigating financial reporting risks.In the team's assessment the organization maintains an effective system of internal controls over financial reporting. No material weaknesses or significant deficiencies were identified that couldpotentially impact the reliability of the financial statements. The controls tested were found to be suitably designed and operating effectively to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements in accordance with GAAP.The organization has established a strong control environment with clear assignment of authority and responsibility. Key controls were noted in the areas of cash management accounts receivable and payable inventory management and payroll processing. The team commends the organization's proactive approach to maintaining a robust internal control framework.Compliance ReviewAs part of the audit the team also reviewed the organization's compliance with applicable laws regulations and contractual agreements. This included an assessment of the company's adherence to requirements related to tax filings employee benefit plans and industry-specific regulations.The audit team found the organization to be in substantial compliance with the relevant laws and regulations. No instances of non-compliance were identified that could have a material effect on the financial statements. The organization appears to have appropriate processes and controls in place to ensure ongoingcompliance.One area noted for potential improvement relates to the organization's policies and procedures for monitoring changes in laws and regulations. The audit team recommends enhancing the compliance function to proactively identify and assess the impact of new or amended requirements. This will help ensure the organization remains fully compliant on an ongoing basis.Overall Conclusion and RecommendationsBased on the procedures performed and evidence obtained the EY audit team concludes that the financial statements of the organization present fairly in all material respects the financial position results of operations and cash flows for the year ended December 31 2022 in conformity with GAAP. The organization maintains an effective system of internal controls over financial reporting and is in substantial compliance with applicable laws and regulations.To further strengthen the organization's financial reporting and compliance the audit team recommends the following:- Enhance the compliance function to proactively monitor changes in laws and regulations- Formalize the process for reviewing and updating accounting policies and procedures on a periodic basis- Implement additional controls around the review and approval of journal entries- Provide enhanced training to finance and accounting personnel on recent GAAP updatesThe EY team appreciates the cooperation and assistance provided by the client's finance and accounting staff throughout the audit process. We are available to discuss the findings and recommendations in more detail. Please let us know if you have any questions or require additional information.。
有关审计报告的审计准则英文版
有关审计报告的审计准则英文版Auditing standards, also known as Generally Accepted Auditing Standards (GAAS) in the United States, are a set of systematic guidelines used by auditors when conducting audits of a company's financial information. 审计准则，也被称为美国的一般受理审计准则（GAAS），是审计师在对公司财务信息进行审计时所使用的一套系统性指导方针。
These standards are used to ensure that auditors perform their duties with integrity, objectivity, and professional competence. 这些标准用于确保审计师在履行职责时具有诚信、客观性和专业能力。
The auditing standards serve as a framework for auditors to follow in order to provide a reasonable assurance that the financial statements of a company are free from material misstatement. 审计准则作为审计师所要遵循的框架，旨在提供合理保证，即公司的财务报表不存在重大错误陈述。
By adhering to these standards, auditors are able to maintain consistency and reliability in their audit work across different companies and industries. 通过遵守这些标准，审计师能够在不同公司和行业的审计工作中保持一致性和可靠性。
2023年度财务审计报告英文版
2023年度财务审计报告英文版2023 Financial Audit ReportIn the year 2023, our financial audit report reflects a comprehensive overview of the organization's financial status. This detailed analysis covers various aspects of the company's financial health, including revenue, expenses, assets, and liabilities.The audit report highlights the company's financial performance over the past year, identifying areas of strength and potential areas for improvement. Through meticulous examination of financial records and transactions, we have ensured the accuracy and reliability of the information presented in the report.Our audit team has conducted thorough evaluations of the company's financial statements to assess their compliance with accounting standards and regulations. We have also reviewed internal controls and risk management processes to provide insights into the company's financial management practices.Overall, the 2023 financial audit report serves as a valuable tool for stakeholders, providing them with a transparent and reliable assessment of the company's financial position. It offers valuable insights that can help guide decision-making and strategic planning for the future.As we move forward, it is essential for the company to continue maintaining high standards of financial transparency and accountability. By adhering to best practices in financial management, the company can ensure long-term success and sustainability in a competitive business environment.In conclusion, the 2023 financial audit report represents a significant milestone in the company's financial journey, providing a clear picture of its financial standing and performance. It serves as a testament to the company's commitment to financial integrity and excellence.。
英文审计报告及附注
英文审计报告及附注Here is a 614-word English essay on the topic of "English Audit Report and Notes":The Importance of Audit Reports and Notes in Financial ReportingFinancial reporting is a critical aspect of any organization, providing stakeholders with a comprehensive understanding of the company's financial health and performance. At the heart of this reporting process lies the audit report and its accompanying notes, which play a vital role in ensuring transparency, accuracy, and accountability.An audit report is a formal document prepared by an independent and qualified auditor that presents the findings and conclusions of their examination of an organization's financial statements. This report serves as a crucial tool for investors, lenders, regulators, and other interested parties, allowing them to make informed decisions based on the organization's financial standing.The audit report typically includes an opinion on the fairness and accuracy of the financial statements, addressing whether they have been prepared in accordance with the applicable accountingstandards and principles. The auditor's opinion can be unqualified (indicating the financial statements are fairly presented), qualified (indicating certain issues or limitations), adverse (indicating the financial statements are not fairly presented), or a disclaimer of opinion (indicating the auditor was unable to obtain sufficient evidence to form an opinion).Accompanying the audit report are the auditor's notes, which provide additional information and context to the financial statements. These notes are an essential component of the financial reporting process, as they offer detailed explanations and clarifications on various aspects of the organization's financial activities.The notes to the financial statements often include information such as:- Significant accounting policies: This section outlines the key accounting principles and methods used by the organization in preparing its financial statements.- Explanations of financial line items: The notes provide detailed breakdowns and explanations of the various accounts and balances reported in the financial statements, helping readers better understand the organization's financial position and performance. - Contingencies and commitments: The notes disclose any potential liabilities, such as pending lawsuits or contractual obligations, thatcould have a material impact on the organization's financial outlook. - Related party transactions: The notes outline any significant transactions or relationships between the organization and its related parties, such as subsidiaries, affiliates, or key management personnel.- Subsequent events: The notes inform readers of any significant events that occurred after the reporting period but before the financial statements were issued, which could affect the organization's financial position or future performance.The inclusion of these detailed notes is crucial, as it provides stakeholders with a more comprehensive understanding of the organization's financial situation. By enhancing transparency and disclosure, the notes to the financial statements help to build trust and confidence in the organization's financial reporting.Furthermore, the audit report and accompanying notes play a vital role in regulatory compliance. In many jurisdictions, publicly traded companies are required to have their financial statements audited and to disclose the resulting report and notes as part of their regulatory filings. This ensures that the financial information presented to the public is reliable, accurate, and in compliance with applicable accounting standards and regulations.In conclusion, the audit report and its accompanying notes areessential components of financial reporting, providing stakeholders with a detailed and transparent view of an organization's financial health and performance. By ensuring the integrity and reliability of financial information, these documents play a crucial role in supporting informed decision-making, fostering trust, and upholding regulatory compliance. As such, the careful preparation and thorough review of audit reports and notes should be a top priority for any organization seeking to maintain the confidence of its stakeholders.。
审计英语——精选推荐
审计英语审计英语教学⼤纲Chapter 1 An Introduction to AuditingChapter 2 Auditing StandardsChapter 3 Professional Ethics and Legal LiabilityChapter 4 Audit Objectives and Audit ProcessChapter 5 Audit ReportChapter 6 Audit Evidence and Working PapersChapter 7 Audit Planning and MaterialityChapter 8 Understanding the Entity and its Environment and Assessing the Risks of Material MisstatementChapter 9 Auditor’s Procedures in Response to Assessed Risks Chapter 10 Audit SamplingChapter 11 Audit of the Sales and Collection CycleChapter 12 Audit of the Acquisition and Payment CycleChapter 13 Audit of the Manufacturing CycleChapter 14 Audit of the Capital Acquisition and Payment Cycle Chapter 15 Audit of the Cash BalancesChapter 16 Completing the AuditChapter 1 An Introduction to Auditing1.1 Definition of auditing1.2 Auditing, attestation and assurance1.3 The three parties involved in auditing1.4 The classification of audit1.5 Types of auditors1.6 Distinction between auditing and accountingLearning ObjectivesAfter studying this chapter, you should be able to1. Understand the definition of auditing.2. Understand the relationship among auditing, attestation andassurance.3. Comprehend the differences between auditing and review.4. Learn the three parties involved in auditing.5. Learn the classification of audit.6. Learn the types of auditors.7. Comprehend the distinction between auditing and accounting.Dependable information is essential to the very existence of our society. The investor making a decision to buy or sellsecurities, the bankerdeciding whether to approve a loan, the government in obtainingrevenue based on income tax returns, all are relying upon informationprovided by others. In many of these situations, the goals of theproviders of information run directly counter to those of the users of theinformation. Implicit in this line of reasoning is recognition of the socialneed for independent public accountants-individuals of professionalcompetence and integrity who can tell us whether the information thatwe use constitutes a fair picture of what is really going on.1.1 Definition of auditingGlossaryauditing 审计assertion 认定GAAP(general accepted accounting principles) 公认会计准则review审阅reasonable assurance 合理保证limited assurance 有限保证misstatement 错报positive assurance 积极鉴证negative assurance 消极鉴证There are different definitions about auditing from the history development of auditing. Some people defined the auditing is theappraisal process, some defined that the auditing is the evaluationprocess, and others defined that the auditing is the economic controlprocess. The most accepted definition for auditing should be stated asfollows:“Auditing is a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions andevents to ascertain the degree of correspondence between thoseassertions and established criteria and communicating the results tointerested users.”From this definition, several important words are needed to pay attention to. First, auditing is a systematic process. It is not the appraisalprocess, evaluation process, or economic control process. Second, whenthe auditor collects the evidence, they need to keep objectivity. Third,the collected evidence should be compared with the assertions.Assertions are the implication or representation by management. Forth,the auditor’s report is about the degree of correspondence betw eenassertions and established criteria. The results of auditing will beavailable to all the interested users. Fifth, the established criteria usuallyrefer to GAAP(general accepted accounting principles).There is another definition-review, which is similar to audit, but there are many differences between them. The audit offers reasonableassurance about verified information, whereas the review offers limitedassurance about verified information. What does reasonable assurancemean It means that the audit cannot find all the misstatements becauseof his or her knowledge and scope limitation. However, the auditors trytheir best to collect sufficient evidence to prove their opinions. Thelimited assurance means that the auditors just use limited procedures tocollect evidence, which just includes inquiry and analytical procedures.They don’t try their best to collect evidence so that they only can offerthe limited assurance. That’s why we call audit is a positive assurance,and the review is a negative assurance.1.2 Auditing, attestation and assuranceGlossaryin all material respects 在所有重⼤⽅⾯credibility 可信性，可信程度attestation 鉴证assurance 保证或可信性保证agreed-upon procedures 执⾏商定程序high levels of assurance ⾼保证⽔平moderate levels of assurance 中等保证⽔平reliability 可靠性，可靠程度relevance 相关，相关性assurance standards 鉴证准则The phrases used to express the CPA’s opinion are “give a true and fair view” or “present fairly, in all material respects,”which are equivalent terms. Although the CPA’s opinion enhances the credibility of the financial statements, the user cannot assume that the opinion is an assurance as to the future viability of the entity nor the efficiency or effectiveness with which management has conducted the affairs of the entity.A financial statement audit is, by far, the most common type of assurance engagements. Many times, the term "attestation" is used to describe the same activities as auditing. However, CPAs attest to the reliability of a wide range of other types of information, including financial forecasts, internal control, compliance with laws and regulations.There is a broad range of assurance engagements, which includes engagements of the following:1. Engagements to report on a broad range of subject matters covering financial and non-financial information.2. Engagements intended to provide high or moderate levels of assurance.3. Attest and direct reporting engagements.4. Engagements to report internally and externally.5. Engagements in the private and public sector.Not all engagements performed by CPAs are assurance engagements. Other engagements frequently performed by CPAs that are not assurance engagements include the following.1. Agreed-upon procedures.2. Compilation of financial or other information.3. Preparation of tax returns where no conclusion is expressed, and tax consulting.4. Management consulting.5. Other advisory services.In China, the assurance standards are issued in 2006 and implemented on January 1, 2007. The “assurance” in China means assurance service and attestation service.Assurance engagement 鉴证业务Audit 审计Review Engagement审阅业务Review of internal control内部控制审核The Examination of Prospective Financial Information预测性财务信息审核Related services 相关服务Management Consulting管理咨询Agreed-upon Procedures商定程序Compilation代编Taxation services税务服务Accounting services会计服务1.3 The three parties involved in auditingGlossaryauditor 审计机构、审计⼈员CPA firms 会计师事务所accountability 受托经济责任financial statement 财务报表independence 独⽴性We know that there are three parties involved in auditing, and they are auditors, owners and managers. The auditors are the first party in thisrelationship and they usually refer to CPA firms. The owners are thethird party in this relationship. The owners entrust the auditors to do theauditing. The relationship between the owners and managers is calledaccountability, which is the responsibility or obligation of managers tooperate and manage the economic resources entrusted by the owners.The managers must report the situation of application of economicresources to the owners and the owners will assess the performance ofmanagers through the information. From the point of managers’ view,there is a conflict between the position of entrustee and thecompensation related to performance. So they will offer different information to satisfy the owners. The owners have no direct information from the company, therefore, they invite the auditor to assess the information offered by the management.This is why the auditing appeared. The owners entrust the auditors to audit the managers, and the auditors report the results to the owners. When the auditors audit the managers, the managers should feedback the information the auditors want.However, this three-party relationship is changing in the real life. The managers instead of the owners entrust the auditors to do auditing. Because government requires many companies to offer the audited financial statement, the managers have to ask the auditors to audit the financial statements.So the managers control the auditors because the managers become the entrustor and they decide the employment and salaries of auditors. This kind of relationship impairs the independence of auditors.1.4 The classification of auditGlossaryCPA firms auditing 注册会计师审计government auditing 国家审计internal control auditing or internal auditing 内部审计proprietorship独资general partnership 普通合伙制Limited Liability Company (LLC) 有限责任制Limited Liability Partnership (LLP) 有限责任合伙制CPA(Certified Public Accountant) 注册会计师Big Four 四⼤（国际性会计师事务所）Glossaryfinancial statement audit 财务报表审计compliance audit 合规性审计operational audit 经营审计fixed time audit 定期审计flexible time audit 不定期审计auditing at the client’s company 就地审计auditing at CPA firms 报送审计Micro-audit 微观审计Macro-audit 宏观审计Glossarydomestic audit 国内审计overseas audit 海外审计international audit 国际审计Accounting number-based audit approach 账项基础审计System-based audit approach 制度基础审计Risk-oriented audit approach 风险导向审计There are many ways to classify the audit. First, according to the different auditors, there are three main auditing, and they are CPA firmsauditing, government auditing, and internal control auditing. The CPA firms usually have four types, proprietorship, general partnership, limited liability company, and limited liability partnership. Proprietorship is organized by one CPA (Certified Public Accountant), and the owner will bear all the liabilities of the company. If the assets of company cannot offset the liabilities, the owner has to use his or her own property to pay off the obligations. The general partnership is organized by two or more than two CPAs, and all the owners bear the liabilities of company according to the share of assets. If the assets cannot offset the liabilities, they also must use their own property to pay off the obligations.The limited liability company is organized by buying share stock of company and the owners have limited responsibilities for the liabilities of company according to how many stocks they hold. Their own properties will not be used to offset the liabilities of company. The limited liability partnership has the characteristics of partnership and corporation. The CPA firms are responsible for all the liabilities, but only the partner who brought up the loss for CPA firms will undertake all the obligations. The big four CPA firms in USA are all partnership corporations. In China, only two types of firms are allowed-general partnership and limited liability company.The government audit is implemented by the members in the government and the audit department is a department of government.The internal audit is operated by employees within the company andthe audit department is a department in the company.“The Big Four”Deloitte & Touche 德勤Price Waterhouse Coopers 普华永道;Ernst & Young 安永;KPMG 毕马威Second, according to the objects of auditing, the audit can be divided into three types-financial statement audit, compliance audit, and operational audit.Financial statement audit is conducted to determine whether all the material aspects in the overall financial statements are stated in accordance with specified criteria. The financial statements include balance sheet, income statement, the statement of cash flows, as well as accompanying footnotes. This is the main engagement for CPA firms. ?The operational audit is a review of any part of an organization’s operating procedures and methods for the purpose of evaluating efficiency and effectiveness. In operational auditing, the reviews are not limited to accounting. They can include the evaluation of organization structure, computer operations, production methods, marketing, and any other area in which the auditor is qualified. After the completion of an operational audit, the auditors will give some recommendations for improving the operations to the managers. The government audit and internal audit focus on the operational audit. Internal audit also includes compliance audit.The compliance audit is to determine whether the auditee is following specific procedures, rules, or regulations set by some higher authority. ?Third, according to the time to perform the engagement, the audit can be divided into two types-fixed time audit and flexible time audit.The fixed time audit means that the auditors perform the auditing at the fixed time every year. The typical example is financial statement audit and CPA firms audit. The financial statement audit starts after the balance sheet date.The other one is flexible time audit, which is to be performed in flexible time. It usually depends on higher authorities’ or manager’s determination. For example, the internal audit is performed when the manager thinks it is necessary.Forth, according to the place to conduct the auditing, there are two types of audit-auditing at the client’s company, auditing at CPA firms.Auditing at the client’s company means that the auditors go to client’s company and perform the auditing there. This type is suitable for thosecompanies which have complex business and a large amount of accounting documents. So it is impossible to take these documents to CPA firms. This is a common way to conduct the auditing.Auditing at CPA firms means that the client sends the documents to CPA firms and auditors conduct auditing at CPA firms. This type isapplicable for those companies which have simple business and a small number of accounting documents.There are also other classifications of audit. According to the scope ofauditing functions, there are Micro-audit and Macro-audit. According to the boundary of country, there are domestic audit, overseas audit, and international audit.According to auditing approachesAccounting number-based audit approach账项基础审计System-based audit approach制度基础审计Risk-oriented audit approach风险导向审计1.5 Types of auditorsGlossaryExternal auditors 外部审计⼈员Internal auditors内部审计⼈员Government auditors政府审计⼈员GAO(the General Accounting Office) 审计总署External auditorsExternal auditors are often referred to as independent auditors or certified public accountants. They audit financial statements for publicly traded and private companies, partnerships, individuals and other types of entities. They may also conduct compliance, operational audits for such entities. Professional standards require that external auditors maintain their objectivity and independence when providing auditing or other attestation services for clients.Internal auditorsNearly every large corporation maintains an internal auditing staff. Internal auditors are also employed extensively by governmental andnon-profit organizations. A principal goal of the internal auditors is to investigate and appraise the effectiveness with which the various organizational units of the company are carrying out their assigned functions. Much attention is given by internal auditors to the study and appraisal of internal control.A large part of the work of the internal auditors consists of operational audits; in addition, they may conduct numerous compliance audits. The number and kind of investigative projects vary from year to year. Unlike the CPAs, who are committed to verify each significant item in the annual financial statements, the internal auditors are not obligated to repeat their audits on an annual basis.Government auditorsGovernment auditors are employed by federal, state, and local agencies. At the federal lever, two agencies use auditors extensively: the General Accounting Office (GAO) and the Internal Revenue Service (IRS). The GAO is under the direction of the comptroller general of the United States and is responsible to Congress. The majority of the audits conducted by GAO auditors are compliance and operational audits.The IRS is part of the US Treasury Department. The main activity of IRS auditors is examining and auditing the books and records of individuals and other organizations to determine their federal tax liability. IRS audit are typically compliance audits.Relations between internal and external auditorsThe similarities :1) Both external and internal auditors need technical competence and adequate training; both should continue their professional education bytaking courses (usually called Professional Development) over thecourse of their professional lives.2) Both auditors should be professional in their work and should exercise due care in the conduct of their respective audits.3) The techniques used by both auditors (for example, evidence gathering, sampling to draw conclusions about populations, issuingreports at the completion of their work) are very similar.4) Both internal and external auditors can perform audits of financial information.The differences :1) Internal auditors are employees of the company. External auditors are independent professionals who provide a service to companies for afee.2) The independence of internal auditors depends on the position of the internal audit function in the company and to whom they report. Theindependence of external auditors depends on their mental attitude,behavior, and relationship to the client.3) Internal auditors prepare reports for management, whereas external auditors prepare reports for wide circulation, such as shareholders,banks, and government regulatory bodies.4) Internal auditors usually assess the efficiency, economy, and effectiveness of the operations(3E) of the company and may or may notaudit financial matters. External auditors usually focus on the company’s financial statements.Make use of internal auditin external auditInternal audit is a part of internal control.They have consistency in their work, so we can make use of internal audit results.In external audit we make use of internal audit, which improve efficiency and save cost.1.6 Distinction between auditing and accountingGlossaryaccounting 会计Many financial statements users and members of the general public confuse auditing with accounting. The confusion results because most auditing is usually concerned with accounting information, and many auditors have considerable expertise in accounting matters. The con fusion is increased by giving the title ‘certified public accountant’ to many individuals who perform audits.Accounting is the recording, classifying, and summarizing of economic events in a logical manner for the purpose of providing financial information for decision-making. The function of accounting is to provide certain types of quantitative information that management and others can use to make decisions. To provide relevant information, accountants must havea thorough understand of the principles and rulesthat provide the basis for preparing the accounting information. Inaddition, accountants must develop a system to make sure that theentity’s economic events are properly recorded on a timely basis and ata reasonable cost.In auditing accounting area, the concern is determining whether recorded information properly reflects the economic events thatoccurred during the accounting period. Because accounting rules are thecriteria for evaluating whether the accounting information is properlyrecorded, and auditor involved with these data must also thoroughunderstand those rules. In the context of the audit of financialstatements, the rules are GAAPs.In addition to understand accounting, an auditor must possess expertise in the accumulation and interpretation of audit evidence. It isthis expertise that distinguishes auditors from accountants. Determiningthe proper audit procedures, deciding the number and types of items totest, and evaluating the results are problems unique to the auditors.Will financial statement audits become obsoleteSome products have rather limited life cycles. However, first legislated in the British Companies Act 1844, financial audits have survived forover a century. Does this suggest unusual endurance of obsolescence Inthe information era, stockholders are demanding information that is farmore current and far more pertinent to their decision-making needs.Balance sheets were designed to show what a business would be worthif it was liquidated today. What managements need, however, arebalance sheets that relate the enterprise’s current condition to its future wealth-producing capacity. This is not to say that there is no need for financial statements. Rather, there is a need for statements that capture the value of information.In response to claims that financial statements may no longer be relevant, the AICPA established a Special committee on Financial Reporting, chaired by Edmund Jenkins, to recommend improvements in business reporting. Following three years of deliberations, the Committee released a series of recommendations, among which business report forward-looking information.Review Questions1. Explain the relationship among audit services, attestation services, and assurance services, and give examples of each.2. Discuss the definition of auditing.3. State the four major types of services CPA firms perform, and explain each.Problems and DiscussionAudits can be categorized into three types: (1) financial statements audits, (2) compliance audits, and (3) operational audits. Auditors also can be categorized into three types: (1) CPA firms, (2) internal auditors, and (3) governmental auditors. Required:For each of the following descriptions, indicate which type of audit best characterizes the nature of the audit being conducted. Also indicatewhich type of auditor is likely to perform the audit engagement.Determine the fair presentations of the Sjex Chemical’s balance sheet, income statement, and statement of cash flows. Evaluate the Computer Services Department of a government unit in terms of the efficient and effective use of corporate resources.Audit the Federal income tax returns of an officer of the corporation. Review the computer operations of a corporation to evaluate whether the computer center is being operated as efficiently as possible. Choice1. Which of the following professional services would be considered an attestation engagementa. A consulting services engagement to provide computer-processing advice to a clientb. An engagement to report on statutory requirements,c. An income tax engagement to prepare federal and state tax returns.d. The compilation of financial statements from a client’s financial records.2. A primary purpose of an operational audit is to providea. a means of assurance that internal accounting controls are functioning as planned.b. a measure of management performance in meeting organizational goals.c. the results of internal examinations of financial and accounting matters to a company’s top-level management.。
财务审计报告英文版格式
财务审计报告英文版格式Audit ReportTo the Board of Directors and Shareholders of XYZ CorporationWe have audited the accompanying balance sheets of XYZ Corporation (the 'Company') as of December 31, 2023 and 2022, and the related statements of income, shareholders' equity, and cash flows for the years then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Webelieve that our audits provide a reasonable basis for our opinion.In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of XYZ Corporation as of December 31, 2023 and 2022, and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.ABC Auditing Firm。
(完整版)审计报告参考范本(2018英文版小准则)
Auditor's ReportAuditor’s Ref.:To the shareholders of ABC Co., Ltd.,I. OpinionWe have audited the financial statements of ABC Co., Ltd. (hereinafter referred to as "the Company"), which comprise the balance sheet as at December 31, 2017, and the income statement, the statement of cash flows for the year then ended and notes to the financial statements.In our opinion, the attached financial statements are prepared, in all material respects, in accordance with Accounting Standards for Small Business Enterprises and present fairly the financial position of the Company as at December 31, 2017 and its operating results and cash flows for the year then ended.II. Basis for Our OpinionWe conducted our audit in accordance with the Auditing Standards for Certified Public Accountants in China. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. According to the Code of Ethics for Chinese CPA, we are independent of the Company in accordance with the Code of Ethics for Chinese CPA and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.III. Other informationThe management of the Company is responsible for the other information. The other information comprises information of the Company's annual report in 2017, but excludes the financial statements and our auditor's report.Our opinion on the financial statements does not cover the other information and we do not and will not express any form of assurance conclusion thereon.In connection with our audit of the financial statements, our responsibility is to read the other information identified above and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.If, based on the work we have performed on the other information that we obtained prior to the date of this auditor's report, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.IV. Responsibilities of Management and Those Charged with Governance for the Financial StatementsThe Company's management is responsible for preparing the financial statements in accordance with the requirements of Accounting Standards for Small Business Enterprises to achieve a fair presentation, and for designing, implementing and maintaining internal control that is necessary to ensure that the financial statements are free from material misstatements, whether due to frauds or errors.In preparing the financial statements, management of the Company is responsible for assessing the Company's ability to continue as a going concern, disclosing matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.Those charged with governance are responsible for overseeing the Company's financial reporting process.V. Auditor's Responsibilities for the Audit of the Financial StatementsOur objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the audit standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.As part of an audit in accordance with the audit standards, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:(1) Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, omissions, misrepresentations, or the override of internal control.(2) Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances,but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control(3) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management of the Company.(4) Conclude on the appropriateness of using the going concern assumption by the management of the Company, and conclude, based on the audit evidence obtained, whether a material uncertaintyexists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.(5) Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit matters, including any significant deficiencies in internal control that we identify during our audit.Certified Public Accountant of China:Certified Public Accountant of China:XYZ Certified Public Accountants Co., Ltd.Guangdong, ChinaMarch 23, 2018附：审计报告2018中文标准版（小企业会计准则）审计报告审计报告文号: ABC有限公司股东：一、审计意见我们审计了后附的ABC有限公司（以下简称贵公司）财务报表，包括2017年12月31日的资产负债表、2017年度的利润表和现金流量表以及财务报表附注。
审计学英文课件 (3)
3-18
Be aware of what may have occurred; investigate if brought to attention
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LO# 7
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LO# 7
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Some examples from FASB ASC Topic 850, “Related Party Disclosures”
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Member of board of directors and independent. Directly responsible for overseeing work of any registered public accounting firm employed by the company. Must preapprove all audit and nonaudit services provided by its auditors. Must establish procedures to follow for complaints. Must have authority to engage independent counsel.
• Assess business risks. • Establish materiality. • Consider multilocations. • Assess the need for specialists. • Consider violations of laws and regulations. • Identify related parties. • Consider additional value-added services. • Document the overall audit strategy, audit plan,