AUDIT

PLANNING
AND
ANALYTICAL
PROCEDURE
S
1

 PLANNING
Standard of Field work butir 1 menyatakan :
The auditor must adequately plan the work and
must properly supervise any assistents

Tiga
alasan
kenapa
auditor
harus
merencanakan penugasan dengan tepat :
1) Memungkinkan auditor memperoleh sufficient
appropriate evidence
2) Menjaga cost audit yang pantas
3) Menghindari misunderstanding dengan klien

Planning an Audit and Designing an Audit

Approach
1

Accept client and perform initial audit planning

Understand the clients Business and industry

Assess client business risk

Perform preliminary Analytical procedures

Set materiality and assess Acceptable

Audit Risk and Inherent risk

Understand internal control and assess control risk

Gather information to assess fraud risk

Develop overall audit plan and audit program

1. Accept Client and

Perform Initial Audit

Planning

Initial Audit Planning meliputi 4 hal :

1. Auditor memutuskan apakah menerima
klien baru atau meneruskan klien lama
2. Auditor mengidentifikasi kebutuhan audit
dari auditee
3. Mendapat pengertian dari klien tentang
penugasan,
u/
menghindari
salah
pengertian
4. Auditor mengembangkan Overall Strategy
u/ audit, termasuk staffing dan kebutuhan
spesialis jika diperlukan

2. Understand the Clients

Business and Industry
Standard of Field work butir 2
menyatakan:

The auditor must obtain a sufficient understanding

of the entity and its environment, including its

internal control, to assess the risk of material
misstatement of the financial statements whether
due to error or fraud, and to design the nature,
timing, and extent of the audit procedures

Sifat bisnis dan industri klien mempengaruhi Client Business

Risk dan Salah saji material dalam Financial statement.

Client business risk

5

Strategic Systems
Understanding of the Clients
Business and Industry
Understand Clients
Business
and
Industry
Industry and
External Environment
Business Operation
And process
Management and
Government
Objecitves and
Strategies
Measurement and
Performance

3. Assess Client Business

Risk
Hubungan Clients business dan industri, Client business risk
dan penilaian auditor atas resiko salah saji material
laporan keuangan
Industry and External Environment
Business Operation and Process
Understand Clients
Business and Industry
Assess Client
Business Risk

Management and Government

Objectives and strategies
Measurement and Performance

Assess Risk of
Material Misstatement

4.Melaksanakan Prosedur Analitis

Pendahuluan
Auditor melaksanakan

Prosedur Analitis Pendahuluan u/

memahami dengan lebih baik bisnis klien dan u/ menilai
resiko bisnis klien

SELECTED RATIOS

HILSBURG
12/31/07

INDUSTRY
12/31/07

HILSBURG
12/31/06

INDUSTRY
12/31/06

Short-Term Debt Paying Ability

Cash ratio
Quick ratio
Current ratio

0.06
1.57
3.86

0.22
3.10
5,20

0.06
1.45
4.04

0.20
3.00
5.10

7.59
48.09
3.36
108.63

12.15
30.04
5.20
70.19

7.61
47.96
4.04
120.86

12.25
29.80
5.10
74.49

Debt to equity
Times interest earned
Profitibility Ratios

1.73
3.06

2.51
5.50

1.98
3.29

2.53
5.60

Gross profit percent

Profit margin
Return on assets
Return on common equity

27.85
0.05
0.09
0.26

31.00
0.07
0.09
0.37

27.70
0.05
0.08
0.24

32.00
0.08
0.09
0.35

Liquidity Activity Ratios

Accounts receivable turnover
Days to collect accounts receivable
Inventory turnover
Days to sell inventory
Ability to Meet Long -Term Obligation

Key Parts of Planning

MAJOR PART
OF PLANNING

Menerima klien
dan melaksa
nakan Perenca
naan Awal

Memahami
bisnis dan
industri klien

SUBPARTS OF
PLANNING

Menerima klien baru

Atau ulangan/lama
Identifikasi alasan
klien u/ diaudit

Melaksanakan
Prosedur
Analitis Awal

Hillsburg adalah audit lanjutan, tidak ada hal yang perlu

dikahawatirkan
Ada 2 alasan: Perusahaan public dan audit dibutuhkan bank
due to Hutang Wesel yang besar

Mendapatkan
pengertian dgn klien

Mendapatkan Engagement letter sebelum audit lapangan

Staffing penugasan

Partner Joe Anthony;

Senior Fran Moore:

Manager Leslie Franklin

Assisten Mitch Bray dan Mr X

Memahami Industry
dan lingkungan klien

Anthony & Franklin mempelajari publikasi industry; Moore

mereview data industry dan laporan dr data base dan online

Memahami Operasi,
strategi dan sistem
kinerja

Moore berdiskusi dengan CEO & CFO, membaca Notulen ,

mereview Laporan Kunci dan indikator kinerja

Menilai Resiko bisnis

klien

Menilai Resiko
Bisnis Klien

APPLICATION TO HILLSBURG HARDWARE CO

Moore menggunakan pemahaman atas klien dan industry u/

menilai Resiko bisnis

Menilai Mgt control yg

pengaruhi resiko bisnis

Moore mereview kontrol manajemen dan pengelolaan dan

pengaruhnya pada Resiko bisnis

Menilai resiko Material

misstatement

Moore menggunakan penilaiannya atas Resiko bisnis dan

kontrol manajemen u/ identfikasi area audit yg beresiko salah
saji
Moore membandingkan Neraca unaudited 2007 dgn tahun
sebelumnya . Moore menghitung Key Ratios dan
membandingkannya dgn tahun sebelumnya dan industry
ratas. Semua hal signifkan difollow up

Analitical Procedures (Prosedur

Analitis)
Prosedur analitis umumnya dilaksanakan 3 kali selama penugasan :
Prosedur
analitis
diperlukan
dalam
fase
perencanaan untuk membantu dalam menentukan
sifat, luas dan waktu pelaksanaan prosedur audit;
contoh, kalkulasi inventory turnover, sebelum test harga
inventory dilakukan dapat menunjukkan perlunya
perhatian khusus selama test harga
Prosedur analitis dilaksanakan selama fase test substantif
u/mendukung saldo akun. Test ini dilakukan berhubungan
dengan prosedur audit lain. Contoh; bagian asuransi
yang dibayar dimuka dibandingkan dengan polis yang
sama dengan tahun lalu.
Prosedur
analitis
diperlukan
selama
fase
penyelesaian audit. Test ini membantu Review akhir u/
salah saji material atau masalah keuangan dan
membantu auditor melihat secara objektif atas Laporan
Keuangan yang diaudit
10

 Timing and Pusposes of Analytical

Procedures
Fase
Tujuan
(purpos
e)
Memahami
Bisnis dan
Industri klien
Menilai Going
concern
Menunjukkan indikasi
Misstatement
(menujukkan arah
perhatian)
Mengurangi
Test Detailed

(Required)
Fase
Perencanaan
Tujuan Utama
(Primary
purpose)

(Required
)
Fase Testing Fase
Penyelesaian

Tujuan Sekunder
(Secondarypurpos
e)

Tujuan Utama Tujuan Sekunder Tujuan Utama

(Secondary purpose)
(Primary
(Primary
purpose)
purpose)
Tujuan Sekunder Tujuan Utama
(Secondarypurpos
(Primary
e)
purpose)

11

5 Jenis Prosedur Analitis

Auditor biasanya membandingkan Saldo

dan ratio klien dengan saldo dan ratio
yang diharapkan dengan menggunakan
satu atau lebih jenis prosedur analitis
berikut ini. Dalam tiap kasus auditor
membandingkan data klien dengan :
1. Data Industri
2. Data yang sama dengan periode yang lalu
3. Hasil diharapkan yang ditentukan klien
4. Hasil diharapkan yang ditentukan auditor
5. Hasil diharapkan dengan menggunakan
data nonfinancial

12

 Komparasi internal dan

hubungannya
Ratio or
Comparation

Raw material turnover for a

manufacturing company

Possible
Misstatement

Misstatement of inventory or cost of

goods sold or obsolescence of Raw
material inventory

Sales commission divided by

net sales

Misstatement of sales commission

Sales return and allowances

divided by gross sales

Misclasified sales returns and

allowances or unrecorded returns or
allowances subsequent to year-end

Cash surrender value of life insurance

(current year) divided by cash
surrender value of life insurance
(preceding year)

Failure to record the change in cash

surrender value or an error in
recording the change

Each of individual manufacturing

expenses as a percent of total
manufacturing expense

Significant misstatement of individual

expenses within a total
13

 Common Financial Ratios

Short-term Debt - Paying

1

Cash ratio =

Quick ratio =

Current ratio =

Cash + Marketable securities

Current liabilities
Cash + Marketable securities + net account receivable
Current liabilities
Current assets
Current liabilities

Liquidity Activity Ratios

1

A/R turnover =

Days to collect =
receivable

Inventory turnover =

Days to sell
=
inventory

Net sales
Average gross receivable
365 days
A/R turnover
Cost of goods sold
Average Inventory
365 days
Inventory turnover

14

Ability to Meet Long-term Debt Obligation

1

Debt to equity =

Times interest earned =

Total liabilities
Total equity
Operating income
Interest expense

.Profitability Ratios
1

Earning per share =

Gross profit percent =

Profit margin =

4
5

Return on assets =
Return on
Common equity

Net income
Average common share outstanding
Net income cost of goods sold
Net sales
Operating income
Net income
Income before taxes
Average total assets
Income before taxes Preferred dividends
Average stockholder equity

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