Audit Surat Berharga dan Investasi

Summary

This presentation focuses on the audit of securities and investments, covering the essential topics such as the definition of securities, investment types, and their significance in financial auditing. Key points discussed include the audit objectives, such as ensuring accurate financial reporting, verifying the existence and ownership of securities, and assessing internal controls. The presentation also dives into audit procedures, including the evaluation of market valuation, internal controls, and the proper recording of transactions. Throughout, the importance of compliance with Indonesian accounting standards and the role of auditors in ensuring the integrity of financial statements is emphasized.

Takeaways

• 😀 The presentation begins with an introduction and gratitude towards the professor and Allah.
• 😀 The group is presenting on auditing related to securities and investments, focusing on financial instruments like stocks, bonds, and commercial papers.
• 😀 Securities are defined as financial instruments such as debt securities, equity securities, and contracts like options and futures.
• 😀 The OJK defines investments as spending funds on assets with the expectation of future returns, which may include securities, property, and other assets.
• 😀 The first audit objective is to assess internal controls over temporary and long-term investments and to verify whether securities are accurately listed in financial statements.
• 😀 Prosedur audit for verifying securities includes physical inspections, ownership confirmation, and cross-checking with financial records.
• 😀 The second audit objective is to ensure that all revenues from securities, such as dividends and interest, are recorded and received properly.
• 😀 The third audit goal is to confirm the valuation of securities aligns with accounting standards like SAK, ETAP, or IFRS.
• 😀 Auditors perform procedures such as checking market prices, holding discussions with management, and reviewing subsequent events to verify the valuation of securities.
• 😀 The last audit objective is ensuring correct presentation of securities in financial statements, adhering to relevant accounting standards.
• 😀 The presentation concludes with a discussion on the internal control questionnaire (ICQ) used to assess potential weaknesses in managing securities, with specific questions on storage, ownership, authorization, and valuation.

Q & A

What is the purpose of the presentation given by the group?

The presentation aims to explain auditing of securities and investments, focusing on the internal control systems and audit procedures for verifying these financial instruments.

What does 'securities' refer to in the context of the presentation?

'Securities' refers to financial instruments like debt securities, commercial papers, shares, bonds, investment unit participation contracts, futures contracts, and any derivatives of these securities.

What is the definition of 'investment' according to the OJK?

According to the OJK, an investment is the act of spending money on something with the intention of gaining profit in the future. This can include properties, securities, such as deposits, stocks, bonds, precious metals, and other forms of investment.

What are the main objectives of auditing securities?

The main objectives are to verify the existence and ownership of securities, assess whether the income from securities is properly recorded, and check if the securities are valued according to the applicable accounting standards.

How does the auditor verify the ownership and existence of securities?

The auditor checks the physical presence of securities, ensures they are in the company’s name, requests details of the securities, and may perform physical inspections and confirm with third parties if the securities are held by them.

What are the audit procedures related to the valuation of securities?

The audit procedures for securities valuation include checking the market price at the reporting date, confirming if temporary investments are valued at the lower of cost or market value, and ensuring long-term investments are recorded at cost unless there's significant long-term market decline.

What does the auditor need to confirm regarding income from securities?

The auditor must ensure that all income, such as interest, dividends, or capital gains from securities, is properly recorded in the financial statements and the corresponding funds are received by the company.

What internal control aspects are evaluated when auditing securities?

Internal controls are evaluated for securing the physical storage of securities, ensuring authorized transactions for buying or selling securities, and monitoring the pledge or transfer of securities to third parties.

What is the significance of 'endorsement' in the context of securities?

Endorsement refers to the transfer of securities ownership or authorization to a third party through a power of attorney issued by the company, granting the third party authority to manage or conduct transactions related to the securities.

What are the differences between short-term and long-term securities investments in terms of accounting?

Short-term investments (marketable securities) are valued at cost and typically held for less than a year, while long-term investments are valued based on the cost unless market conditions show a prolonged decline, and they are typically held for over a year.