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Audit risk in planning and testing revenue in the terms of Czech accounting standards
STRNADOVÁ, Michaela
The aim of the thesis is to analyze the substantive tests focused on revenue of selected companies and to evaluate identified risk areas. This thesis is divided into two parts. The first, theoretical part contains the definition, aim, function and types of audit. Then the auditing legislation is defined and the profession of auditor is presented. At the end of the first part, the phases and activities that are performed during the audit of the financial statements are described. The first part is completed by a short chapter dedicated to the forensic audit. The second part is devoted to practical application. Firstly, the selected companies are shortly presented and consequently a materiality level is set for each of them. Then, the level of the internal control system is assessed and the audit risk determined. After that, external and internal risk areas, that may affect reported revenue, are identified. Finally, the impact of identified risk areas on the audit risk and the possible adjustment of the materiality levels are assessed.
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Audit of financial statement in practice
Martínková, Pavla ; Roubíčková, Jaroslava (advisor) ; Černý, Václav (referee)
The thesis deals with the audit of the financial statement. Solves the characteristics and evolution of the audit, as well as legislation under which an entity must follow when preparing financial statement. Explains which demands are placed on the person performing the audit. Explains the audit procedures from operations before accepting the order to release the auditor's report. The practical part deals with the real audit of financial statement of selected company.
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Testing of selected items of financial statements from the auditor's perspective.
Kováč, Tomáš ; Roubíčková, Jaroslava (advisor) ; Černý, Václav (referee)
Topic of this master's thesis is testing of selected items of financial statements from the auditor's perspective. Thesis is divided into 4 main chapters. The first three are methodological where the first of them describes characteristics of auditing as such, its meaning, functions, purpose and object. It also explains a role of the auditor, their job description, competence, responsibility and subsequently describes The Chamber of Auditors of the Czech Republic. The second chapter analyses legal regulations of the audit, ie. laws, regulations and standards that effect both the accounting and the audit. The third and final theoretical chapter describes the methodology and steps of the audit and all the activities that audit involves. The fourth, practical chapter includes explained methodology on selected financial statement items such as tangible and intangible fixed assets, personnel expenses, short-term financial assets, inventory, receivables, equity, reserve fund, revenues and expenses related to their own production and production margin.
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Evaluation of audit risk in selected areas in checking of financial statements in the CR conditions
MIKOLÁŠKOVÁ, Iveta
In the theoretical part of my thesis, I defined the historical development of auditing, the definition of audit and objectives. Audit procedures defined by valid legislation, ethical requirements and ethical behaviour of the auditor. I focused on the impact of audit risk, the auditor's opinion. Therefore, the procedures of assessment described above included inherent, control and detection risks and its impact on the audit's opinion. In practical part of my thesis is applied to the most frequent risks of inventories in companies that are specialised in the production, retail and wholesale of parts for automotive industry. Through analysis are evaluated risks that occur most frequently.
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Audit instruments and techniques – tests employed in external audits
Talácková, Alena ; Dvořáček, Jiří (advisor)
The thesis deals with the verification of selected internal processes and items in final accounts of the company Graziano Trasmissioni, Ltd. The theoretical basis of the thesis concerns problems with audit planning and performance. It provides an explanation of essential audit definitions, objectives and phases and a description of audit risks. It characterises methods which can be used for obtaining appropriate and sufficient audit evidence that is necessary for expressing the auditor's opinion about credibility of final accounts. The emphasis is on obtaining information with the assistance of control and substantive tests. In the practical part of the thesis, control tests are applied to a purchase and sales process. The test results should show whether the internal control mechanisms are effective or not. The substantive tests validate balances of accounts receivable and accounts payable. The specific objectives are tested and the results prove whether the account balances are misrepresented in the financial statements or not.
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