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ACCA AA审计直接和间接法律法规
文章来源：ACCA全球官网
发布时间：2021-09-27 14:44
阅读：777次
Direct and indirect laws and regulations
There are many laws and regulations that a reporting entity may have to comply with in order to continue in business.For example,many entities will have to comply with strict health and safety legislation;a food manufacturer may have strict food hygiene legislation to comply with,and an accountancy firm will have a code of ethics to follow from its professional body.Such laws and regulations will have both a direct effect on the financial statements and an indirect effect.【点击免费下载>>>更多ACCA学习相关资料】
For those laws and regulations that have a direct effect on the financial statements,the auditor will be concerned about gathering sufficient and appropriate audit evidence that the entity has complied with such laws and regulations.For example,when auditing the payroll the auditor will be concerned with gathering sufficient and appropriate audit evidence to ensure that tax legislation has been correctly applied by the entity because if it has not(as in Question 1(c)in the December 2011 F8 exam),there is risk that the entity could be fined for non-compliance and the fines could be material,either in isolation or when aggregated with other misstatements.In addition,amounts within the financial statements may also be misstated as a result of the non-compliance with laws and regulations.
For those laws and regulations that have an indirect effect on the financial statements,the auditor will undertake procedures with the objective of identifying non-compliance with such laws and regulations.ISA 250 gives examples in paragraph 6(b)of:
compliance with the terms of an operating license
compliance with regulatory solvency requirements,or
compliance with environmental regulations.
When designing procedures to help to identify non-compliance with laws and regulations,ISA 315,Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment requires an auditor to obtain a general understanding of:
the applicable legal and regulatory framework,and
how the entity complies with that framework.
Identifying non-compliance with laws and regulations can be tricky for auditors,particularly where fraud and/or money laundering is concerned(see later in the article).It is for this reason that the auditor must maintain a degree of professional scepticism and remain alert to the possibility that other audit procedures applied may bring instances of non-compliance or suspected non-compliance with laws and regulations to the auditor’s attention,and such procedures could include:
reading minutes of board meetings
enquiring of management and/or legal advisers concerning litigation or claims brought against the entity,and
undertaking substantive tests on classes of transactions,account balances or disclosures.
Reporting identified or suspected non-compliance with laws and regulations
Where the auditor discovers non-compliance with laws and regulations,the auditor must notify those charged with governance.However,care must be taken by the auditor because if the auditor suspects that those charged with governance are involved,the auditor must then communicate with the next highest level of authority,which may include the audit committee.If a higher level of authority does not exist,the auditor will then consider the need to obtain legal advice.
The auditor must also consider whether the non-compliance has a material effect on the financial statements and,in turn,the impact the non-compliance will have on their report.
If the auditor identifies or suspects non-compliance,the auditor will need to consider whether law,regulation and ethical requirements either require the auditor to report to an appropriate authority outside the entity,or establish responsibilities under which this may be appropriate.
There may be occasions when the auditor’s duty of confidentiality may be overridden by law or statute.This can be the case when the auditor discovers non-compliance with legislation such as drug trafficking or money laundering.
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