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Overview -

Asurans dan
Audit Laporan Keuangan

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Topik Bahasan
1 Lingkup jasa yang diberikan Akuntan Publik

2 Pengertian Asurans (Assurance)

3 Audit Laporan Keuangan - Overview

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Tujuan Pembelajaran
Setelah mengikuti kuliah ini mahasiswa diharapkan
mampu:
1. Memahami lingkup jasa yang diberikan akuntan publik
2. Memahami arti dan lngkup jasa asurans
3. Menjelaskan unsur2 yang harus dipenuhi dalam
perikatan asurans
4. Mengidentifikasi dan menjelaskan perbedaan
reasonable assurance dan limited assurance
5. Menjelaskan garis besar karakteristik audit atas laporan
keuangan
6. Menjelaskan professional judgment, professional
scepticism, dan inherent limitation sebagai elemen kritis
dalam perikatan audit laporan keuangan
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Assurance
Services

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Assurance Services
IAASB - IFAC
Assurance engagement —
An engagement in which a practitioner expresses a
conclusion designed to enhance the degree of confidence
of the intended users other than the responsible party
about the outcome of the evaluation or measurement of
a subject matter against criteria.

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Assurance Services
IAPI
Perikatan Asurans —
Suatu perikatan yang didalamnya seorang praktisi
menyatakan suatu kesimpulan yang dirancang untuk
meningkatkan derajat kepercayaan pengguna yang dituju
(selain pihak yang bertanggung jawab) terhadap hasil
pengevaluasian atau pengukuran atas hal pokok
dibandingkan dengan kriteria.

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Assurance Services

• Enhance the degree of confidence of the intended


users
• The outcome of the evaluation or measurement of a
subject matter
• Subject matter.

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Assurance Services

Assurance services are independent professional


services designed to improve the quality of
information for decision making.
• Independent
• Professional
• Quality

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Assurance Services
Elements of an Assurance Engagement :
1. A three party relationship involving a practitioner, a
responsible party, and intended users;
2. An appropriate subject matter;
3. Suitable criteria;
4. Sufficient appropriate evidence; and
5. A written assurance report in the form appropriate to a
reasonable assurance engagement or a limited assurance
engagement.

See definition of auditing in previous slide

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Assurance Services
Three Party Relationship
Assurance engagements always involve three separate
parties :
• A practitioner gathers evidence to provide a conclusion to
intended users about whether a subject matter conforms to
identified criteria.
• A responsible party is one who responsible for the subject
matter, choosing the suitable criteria, and engaging the
practitioner.
• Intended users – The person, persons or class of persons for
whom the practitioner prepares the assurance report.

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Assurance Services
Subject Matter
Subject matter of an assurance engagement can take many
form, such as:
• Information about historical or prospective financial performance
or physical characteristics (e.g. statistical information, capacity
of facility, non-financial performance indicators).
• Systems and process (e.g. internal control, IT systems).
• Behavior (e.g. corporate governance, human resource practices,
compliance with regulation).

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Assurance Services
Suitable Criteria
Suitable criteria are the benchmarks–standards, objectives,
or set of rules–used to evaluate evidence or measure the
subject matter of an assurance engagement.
For example,
Infornation/Subject Matter Criteria
- Financial Statements IFRS, SAK, US GAAP, SAP
- SPT Pajak Penghasilan UU & Peraturan Pajak
- Laporan Biaya Produksi Anggaran Biaya Produksi

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Process of an Assurance Engagement
Suitable 1. Determine
criteria criteria
3. Generate
subject matter
information
Responsible 2. Determine
party Subject matter

6. Issue
4. Engage assurance
Practitioner report
practitioner

Intended
Audit is a type 5. Collect evidence user
of assurance about fairness of
subject matter
engagements information

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Assurance Services
Two types of Assurance Services :
Reasonable assurance engagement
The objective is to reduce assurance engagement risk to
an acceptably low level in the circumstances of the
engagement.
• Express a positive form of expression of the
practitioner’s conclusion
• Example : Audit of historical financial statements

Assurance engagement risk —The risk that the practitioner expresses


an inappropriate conclusion when the subject matter information is
materially misstated

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Assurance Services
Two types of Assurance Services :
Limited assurance engagement
The objective is to reduce assurance engagement risk to
a level that is acceptable in the circumstances of the
engagement, but where that risk is greater than for a
reasonable assurance engagement.
• Express a negative form of expression of the
practitioner’s conclusion
• Example : Review of historical financial statements

Explain positive vs negative form of conclution

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Assurance Services
Two types of Assurance Services :

Quality of
reasonable information
assurance

limited
assurance

no
assurance Evidence

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Assurance Services
Framework for Assurance Engagements

International Framework for Assurance Engagements

Audits and Reviews of Assurance Engagements Other


Historical than Audits or Reviews of
Financial Information Historical Financial Information

Audits of Historical • Compliance Audit


Financial Statements • Operational Audit
• Audit of Internal Control over
Reviews of Historical Financial Reporting
• Examination of Prospective
Financial Information
Financial Information
• Fraud & Illegal Act Assessment
• Assurance Services on IT
• Other Assurance Engagements
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Non-Assurance Services
CPA firms perform numerous non-assurance services
(called Related Services), such as :
• Agreed-upon Procedures
• Compilation
• Accounting & Bookeeping
• Tax Services
• Management Consulting

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Professional Standrards - SPAP
• Kode Etik Profesi Akuntan
• Standar Pengendalian Mutu
• Standar Perikatan Asurans
• Jasa Terkait – Non Asurans

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INTERNATIONAL STANDARDS FRAMEWORK FOR
ASSURANCE ENGAGEMENTS AND RELATED SERVICES

Code of Ethics for Professional Accountants

International Standards on Quality Control (ISQCs)

International Framework for Assurance Engagements

Audits and Reviews of Assurance Engagements Other


Historical than Audits or Reviews of
Financial Information Historical Financial
Information
International Standards on
Auditing (ISAs) International Standards on
Assurance Engagements (ISAEs)
International Standards on
Review Engagements
Related Services
(ISREs)
International Standards on
Related Services
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CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS
Part A Part B Part C
Fundamental Professional Accountants in Professional Accountants in
Principles Public Practice Business
Integrity Introduction Introduction
Objectivity Professional Appointment Potential Conflicts

Professionel Conflict of Interest Preparation & Reporting


Second Opinion of Information
Competence &
Due Care Fees & Remuneration Acting with Sufficient
Expertise
Confidentiality Marketing Professional
Services Financial Interests
Professional
Gifts & Hospitality Inducements
Behavior
Custody of Client Assets
Objectivity – All Services
Independence – Audit &
Review Engagements
Independence – Other
Assurance Engagements
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INTERNATIONAL STANDARDS ON QUALITY CONTROL
(ISQCS)

System of Quality Control

Leadership Responsibility
Relevan Ethical Requirements
Acceptance and Continuance of
Client Relationships
Human Resources
Engagement Performance
Monitoring

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INTERNATIONAL STANDARDS ON AUDITING
(ISAS)

200 – 299 General Principles and Responsibilities


300 – 499 Risk Assesment and Response to
Assesed Risks
500 – 599 Audit Evidence
600 – 699 Using the Work of Others
700 – 799 Audit Conclusion and Reporting
800 – 899 Specialized Areas

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Audit of Financial Statements
- Overview

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Audit of Financial Statements

Tujuan audit laporan keuangan adalah untuk meningkatkan


tingkat keyakinan pengguna laporan yang dituju melalui
pernyataan suatu opini oleh auditor tentang apakah laporan
keuangan disajikan, dalam semua hal yang material, sesuai
dengan suatu kerangka pelaporan keuangan yang berlaku.
(SA 200).
Unmodified
• A type of assurance service opinion

• Hasil dari suatu audit adalah laporan


yang memuat pernyataan opini.

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Kerangka Pelaporan Keuangan - Criteria

• Basis yang digunakan oleh manajemen entitas dalam


menyusun laporan keuangan (standar akuntansi keuangan).

• Digunakan oleh auditor sebagai kriteria


untuk menilai apakah laporan keuangan
telah disajikan sesuai dengan kerangka
pelaporan keuangan yang berlaku.

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Kerangka Pelaporan Keuangan - Criteria
Jenis kerangka pelaporan keuangan
 Fair presentation framework
 General purpose financial reporting
 Berkenaan dengan penyajian wajar
 SAK, SAK ETAP, IFRS, US GAAP

 Compliance framework
 Laporan keuangan yang disusun

berdasarkan regulasi atau persyaratan


tertentu
 Berkenaan dengan kepatuhan

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Pernyataan Opini – Penyajian Wajar

Kesimpulan hasil audit dinyatakan dalam bentuk pernyataan


opini (pendapat) auditor tentang apakah laporan keuangan
disajikan secara wajar, dalam semua hal yang material,
sesuai dengan kerangka pelaporan keuangan yang berlaku.

• Kerangka Penyajian Wajar (Fair Presentation Framework)


- Patuh terhadap semua ketentuan dalam kerangka
pelaporan (misal: PSAK, IAS/IFRS, SFAS/US GAAP)
- Bebas dari salah saji material (error & fraud)

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Pernyataan Opini – Kerangka Kepatuhan

Kesimpulan hasil audit dinyatakan dalam bentuk pernyataan


opini (pendapat) auditor tentang apakah laporan keuangan,
dalam semua hal yang material, disajikan sesuai peraturan
tertentu.

• Kerangka Kepatuhan (Compliance Framework)


- Patuh terhadap semua ketentuan dalam peraturan
tertentu yang harus diterapkan
- Bebas dari salah saji material (error & fraud)

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Opini dan Keyakinan Memadai
• Sebagai dasar untuk menyatakan suatu opini, auditor
harus memperoleh keyakinan memadai (reasonable
assurance) tentang apakah laporan keuangan bebas dari
kesalahan penyajian material, baik yang disebabkan oleh
kesalahan (error) maupun kecurangan (fraud).
• Keyakinan memadai dicapai melalui perolehan bukti audit
yang cukup (sufficient) dan tepat (appropriate) untuk
menurunkan risiko audit ketingkat rendah yang dapat
diterima (acceptable audit risk).

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Opini dan Keyakinan Memadai
Keyakinan memadai dan evidence

Quality of
Reasonable information
assurance

No assurance
No evidence Sufficient and
appropiate
evidence

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Opini dan Keyakinan Memadai
Risiko dan evidence

Risk of
material
misstatement

No evidence Sufficient and


appropiate
evidence

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Keyakinan Memadai dan Professional
Judgment
Keyakinan memadai adalah issue professional judgment :
• Risk assessment – risk-based
• Materiality
• Sufficient appropiate evidence
• Evaluasi penerapan kerangka pelaporan keuangan
• Formulation of opinion

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Professional Judgment
• Professional judgment (pertimbangan profesional) :
Penerapan hasil pelatihan, pengetahuan & pengalaman
yang relevan dalam konteks standar audit, akuntansi dan
etika, dalam membuat keputusan (informed decision)
tentang pilihan/tindakan yang tepat sesuai dengan
kondisi yang dihadapi dalam penugasan audit.

• Keputusan2 dalam keseluruhan proses audit didasarkan


pada pertimbangan profesional auditor.
• Kunci dari keberhasilan auditor dalam pelaksanaan audit
yang bermutu.

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Professional Judgment
• Elemen audit penting yang wajib diterapkan oleh auditor
dalam keseluruhan proses audit, antara lain ketika
• Membuat perencanaan audit : menentukan kepatuhan
terhadap etika profesi, risiko kesalahan penyajian
material, materialitas, sample;
• Melaksanakan audit : merespons risiko teridentifikasi,
pemilihan prosedur audit untuk memperoleh bukti,
menilai ketepatan penerapan SAK yang diterapkan,
mengevaluasi kecukupan dan ketepatan bukti audit
yang diperoleh ;
• Membuat laporan audit : merumuskan kesimpulan
hasil audit (opini)

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Risk Based Audit

An audit approach in which the auditor


• carefully analyzes the entity and its
existing internal controls,
• identifies areas that pose a higher
risk of financial statement errors and
fraud, and
• allocates a greater proportion of
audit resources to those areas.

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Risk Based Audit
A risk-based audit has three key steps :
Performing risk assessment procedures
Risk to identify and assess the risks of material
1
Assessment misstatement in the financial statements

Designing and performing further audit


procedures that respond to identified and
Risk
2 assessed risks of material misstatement, at
Response
both the financial statements and assertion
levels

This involves forming an opinion based on


1
3 Reporting the audit evidence obtained; and preparing
and issuing a report that is appropriate to
the conclusions reached

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Audit Process - Risk Based Audit
Plan Design Evaluate audit
the Audit further audit evidence
Assessment

Response

Reporting
procedures obtained

Risk
Risk

Perform risk Perform Prepare the


assessment further audit auditor’s
procedures procedures report

What events could occur Did the events identied What audit opinion, based
that would cause a occur and result in a on the evidence obtained,
material misstatement in material misstatement in is appropriate on the
the financial statements? the financial statements? financial statements?

Identify potential Obtain evidence Draw conclusion


fraud & error
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Risk Based Audit

Risk assessment

Risk of material X Detection risk


Audit Risk =
misstatement

Risk of material
misstatement = Inherent risk X Control risk
(RMM)

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Risk Based Audit

Risk assessment

Financial Statement Level


RMM
Assertion Level

Audit planning
Detection risk Staffing
Professional scepticism
Supervision

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Risk Based Audit - Benefits
Benefits of the risk-based audit :
• Time flexibility when audit work needs to be performed
• Audit team’s effort focused on key areas
• Audit procedures focused on specific risks
• Understanding of internal control
• Timely communication of matters of interest to
management

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Professional Scepticism
● Sikap (attitude) yang mencakup
√ pikiran yang selalu mempertanyakan (a questioning
mind);
√ waspada terhadap kondisi2 yang mengindikasikan
kesalahan penyajian karena kecurangan (fraud) dan
kesalahan (error);
√ penilaian yang kritis (critical assessment) terhadap
bukti audit.

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Professional Scepticism

Sikap skeptisme profesional harus diterapkan dalam :


• perencanaan;
• pelaksanaan audit; dan
• perumusan kesimpulan (opini).

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Inherent Limitation of an Audit

Limitation Reason
The Nature of The preparation of financial statements
Financial involves:
Reporting • Judgment by management in applying the
applicable financial reporting framework; and
• Subjective assessments (such as estimates)
by management involving a range of
acceptable interpretations or judgments.

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Inherent Limitation of an Audit

Limitation Reason
Nature of • Audit evidence tends to be persuasive in
Audit Evidence character rather than conclusive.
Available • Audit evidence may include information
obtained from other sources such as:
‒ previous audits;
‒ a firm’s quality control procedures for
client acceptance and continuance;
‒ the entity’s accounting records; and
‒ audit evidence prepared by an expert
employed or engaged by the entity

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End

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