Kuliah Pengauditan #1

Summary

This video explains the concept of auditing, particularly financial audits. It covers the systematic process of collecting evidence, comparing it to agreed-upon criteria, and forming an objective opinion. Auditors, whether internal or external, aim to provide assurance on the accuracy of financial reports. The video highlights the importance of audits in preventing conflicts of interest, managing complexity, ensuring compliance with regulations, and addressing limitations in access to financial records. It emphasizes that although audits offer high assurance, they cannot guarantee 100% accuracy due to resource and time constraints.

Takeaways

• 😀 Auditing is a systematic process that involves collecting evidence, comparing it with established criteria, and communicating findings to users of the information.
• 😀 The audit process consists of three main stages: planning, fieldwork, and reporting.
• 😀 Auditors must remain objective and follow professional ethics while collecting evidence.
• 😀 Financial statements should be supported by evidence, such as actual sales records, to ensure their accuracy.
• 😀 Established criteria, like accounting standards, are used to evaluate the assertions made in financial statements.
• 😀 Auditors form an opinion based on evidence and communicate it to users of financial information.
• 😀 Auditing provides a high level of assurance but cannot guarantee 100% accuracy due to inherent limitations.
• 😀 Time constraints, typically limited to a few months each year, and small audit teams are some of the challenges in auditing.
• 😀 Auditing helps avoid conflicts of interest between financial report creators and users by providing an independent assessment.
• 😀 The complexity of financial reporting often requires expert auditors to handle the intricacies of accounting methods and standards.
• 😀 Companies are required to have their financial statements audited, especially when they are listed on the stock exchange, as part of regulatory requirements.

Q & A

What is the definition of 'pengawetan' in the context of this script?

In the context of this script, 'pengawetan' refers to a systematic process of gathering evidence, comparing it with agreed-upon criteria, and then drawing conclusions to communicate the results to the information users.

What does it mean for the audit process to be 'systematic'?

A systematic audit process means it is carried out step-by-step in a specific order. At least three main stages are involved: planning, fieldwork, and reporting.

Why is objectivity important when gathering audit evidence?

Objectivity is essential because auditors must perform their work according to professional ethics and be free from external influences while collecting evidence.

What is the role of management assertions in the auditing process?

Management assertions are statements made by management, such as those in financial reports. Auditors must verify these assertions with evidence, such as sales data, to ensure their accuracy.

How does an auditor use criteria in the audit process?

Criteria serve as the agreed-upon standards against which the audit evidence is compared. For example, in financial audits, the criteria could include accounting standards.

Why can't an audit provide 100% certainty in its results?

Audits can't guarantee 100% certainty due to limitations in resources, time, and the inherent risks involved in auditing, which prevent exhaustive testing of all elements.

What are some of the limitations that auditors face during the audit process?

Auditors face constraints such as limited resources, tight timeframes (typically 3-4 months), and small audit teams (usually 3-4 members).

What are some reasons why companies still require audits despite these limitations?

Audits are necessary to avoid conflicts of interest, ensure financial reports are accurate, and provide an independent assessment of complex financial statements.

What are some of the challenges associated with complex financial reporting?

Financial reporting can involve complex methods and alternatives that may be difficult for non-experts to understand, which is why many businesses rely on auditors who are specialists in accounting.

Why is an audit necessary when a company lists on a stock exchange?

A company must undergo an audit of its financial statements as a requirement for listing on the stock exchange. This ensures that the financial information is accurate and reliable for investors.