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Tugas Audit 2 - Chapter 21

The document lists substantive analytical procedures that can be used to test the overall reasonableness of inventory, including comparing gross margin percentage, inventory turnover, unit costs, extended inventory value, and manufacturing costs between the current and previous years. It explains that misstatements could be identified in inventory, cost of goods sold, unit costs, compilation, or extensions depending on the analytical procedure used. The auditor could uncover misstatements in a non-perpetual inventory system by observing the client's physical count, inquiring about counting procedures, and making independent tests of the count. Tests of controls over the inventory and warehousing cycle could include price tests to verify accurate costing and compilation tests to verify the physical count was performed correctly.

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144 views

Tugas Audit 2 - Chapter 21

The document lists substantive analytical procedures that can be used to test the overall reasonableness of inventory, including comparing gross margin percentage, inventory turnover, unit costs, extended inventory value, and manufacturing costs between the current and previous years. It explains that misstatements could be identified in inventory, cost of goods sold, unit costs, compilation, or extensions depending on the analytical procedure used. The auditor could uncover misstatements in a non-perpetual inventory system by observing the client's physical count, inquiring about counting procedures, and making independent tests of the count. Tests of controls over the inventory and warehousing cycle could include price tests to verify accurate costing and compilation tests to verify the physical count was performed correctly.

Uploaded by

ded
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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21-3

List the major substantive analytical procedure for testing the overall reasonableness of
inventory. For each test, explain the misstatement that could be identified.

Substantive Analytical Procedure Possible Misstatement


Compare gross margin percentage with that of Overstatement or understatement of inventory
previous year and cost of goods sold
Compare inventory turnover with previous • Obsolete inventory, which affects
year inventory and cost of goods sold
• Overstatement or understatement of
inventory

Compare unit cost of inventory with previous Overstatement or understatement of unit costs,
year which affect inventory and cost of goods sold
Compare extended inventory value with that of Misstatement in compilation, unit costs, or
previous year extensions, which affect inventory and cost of
goods sold
Compare current year manufacturing costs Misstatement of unit costs of inventory,
with previous year especially direct labor and manufacturing
overhead, which affect inventory and cost of
goods sold

21-6
How could the auditor have uncovered the misstatement, assuming that there are no perpetual
records ?
• Be present at the time the client counts its inventory for determining year end balances
• Observe the client’s counting procedures
• Make inquires of client personnel about their counting procedures
• Make their own independent tests of the physical count
21-14

A. Auditor memilih item untuk melakukan perhitungan ulang sambal mengamati inventory
klien. Auditor melacak jumlah pengujian di daftar inventaris klien. Prosedur audit yang
mana yang bertujuan untuk memperoleh bukti audit terkait keseimbangan persediaan ?
(3) Completeness
B. Prosedur manakah yang memiliki kemungkinan paling kecil yang dilakukan oleh auditor
untuk mengamati tanggal aktual perhitungan persediaan ?
(4) Examine documentation supporting the acquisition of highly material inventory items
on hand at the count date
C. An inventory turnover analysis is useful to the auditor because it may detect :
(3) The existence of obsolete merchandise

21-21
Identify internal control in YourSales inventory and warehousing cycle :
• YourSales cukup bagus dalam melakukan perhitungan items yang dijual dan akan dikirim
yang mana penjaga tokonya menghitung barang yang dijual kemudian mencatatnya dalam
ERP system dimana peran teknologi cukup penting dalam mengolah data. Namun
sayangnya disaat barang sampai di pusat distribusi, perusahaan hanya menghitung dari
catatan urutan pesanan yang ada di dalam box, ia tidak memastikan dan menghitung ulang
semua items yang akan dikirimkan apakah jumlahnya sesuai atau tidak.
For each control identified, list a corresponding test of control that can be used to test the
effectiveness of internal control :
• Auditor dapat menemukan kesalahan penyajian dengan melakukan Price tests, karena
biaya yang digunakan untuk menilai persediaan harus diuji untuk menentukan apakah klien
telah dengan benar mengikuti metode persediaan yang sesuai dengan standar akuntansi dan
konsisten dengan periode-periode sebelumnya
• Kemudian auditor dapat melakukan pengujian kompilasi inventaris, yang bertujuan untuk
memverifikasi apakah perhitungan fisik telah dilakukan dengan benar
• Yang terakhir, auditor dapat mengamati persediaan fisik, penetapan harga, dan kompilasi
persediaan diaudit menggunakan prosedur analitis substantif
21-27
a) State the amount of the actual misstatement in each of four test :
Description Extension as recorded Actual extension Over /
Understatement
Wood 11,04 110,40 (99,36)
Metal cutting tools 1.740,00 1.470,00 270,00
Cutting field 240,00 1.040,00 (800,00)
Sandpaper 579,00 5,70 573,30
b) As a result of your finding, what will you do about clerical accuracy tests of the inventory
in current year ?
• Menghitung ulang klien untuk memastikan jumlah yang tercatat sudah benar
• Membandingkan jumlah fisik dengan file induk persediaan perpetual
• Melakukan perhitungan ulang untuk persediaan secara akurat
• Mencatat jumlah klien untuk pengujian selanjutnya

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