Chapter 1 2024
Chapter 1 2024
Chapter 1 2024
FINANCIAL AUDIT 1
INSTRUCTOR:
ASS. PROF. TA THU TRANG
FINANCIAL AUDIT 1
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FINANCIAL AUDIT 1
THE DEMAND
FOR AUDIT AND
OTHER ASSURANCE
SERVICES
CHAPTER 1
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OBJECTIVE 1-1
Describe auditing.
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NATURE OF AUDITING
Criteria
FASB IASB
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Communications
Client
with Outsiders
Testimony
Transaction
Data Observations
Competence Independence
Evaluation of
Evidence
Proper Conclusion
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REPORTING
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OBJECTIVE 1-2
Distinguish between
auditing and accounting.
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OBJECTIVE 1-3
Explain the importance of
auditing in reducing
information risk.
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OBJECTIVE 1-4
List the causes of information
risk, and explain how this risk
can be reduced.
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OBJECTIVE 1-5
Describe assurance services and
distinguish audit services from other
assurance and non-assurance
services provided by CPAs.
ASSURANCE SERVICES
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ATTESTATION SERVICES
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OBJECTIVE 1-6
Differentiate the three main
types of audits.
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OBJECTIVE 1-7
Identify the primary types of
auditors.
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INTERNAL AUDITORS
Internal auditors are employed by many organizations
and function similarly to GAO auditors.
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OBJECTIVE 1-8
Describe the requirements for
becoming a CPA.
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