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Selected audit procedures
Ryšavý, Jan ; Pelák, Jiří (advisor) ; Černý, Václav (referee)
Diploma thesis is focused on analysis of selected audit procedures. Theoretical definition of conditions for statutory audit and necessary requirements according to standards on auditing are featured in the thesis. It analyses audit risks and the concept of materiality during audit. Descriptions of audit procedures are focused on cash and cash equivalents, property, payroll expenses, equity, accounts receivable, accounts payable and physical inventory inspection.
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Users’ risks in audited financial statements
Kmoch, Štěpán ; Müllerová, Libuše (advisor) ; Roubíčková, Jaroslava (referee) ; Šebestíková, Viola (referee)
The financial statements represent a comprehensive and standardized document including financial information about the company. The companies need to publish this document in the Collection of Deeds, and since the documents are submitted to the Collection of Deeds in electronic form and are subsequently freely available, any financial statements are generally available to a wide range of potential users. Users of the financial statements can be divided based on their relation to the financial statements and based on level of their knowledge of accounting. The confidence of users in information disclosed in the financial statements is higher, in case the financial statements were subject to audit. The user of the financial statements does not have a possibility of detailed verification of the information presented in it (he cannot inquire the management of the company, inspect the original accounting documents, etc.). In this case, the audit represents ensuring correctness of the information presented in the financial statements and also assurance that the financial statements were subject to the independent verification. These facts enhance the degree of confidence of intended users in the financial statements and this is also the purpose of an audit as defined by the International Standards on Auditing. In accordance with the International Standards on Auditing the auditor expects that the user of the financial statements has reasonable knowledge of accounting and is willing to study the financial statements with reasonable effort. Auditor performs his testing based on certain materiality level that does not have to agree to the materiality level of the user. The risk represents in this case the situation, when the materiality level of the user is lower than the materiality level determined by the auditor. The user of the financial statements has limited possibilities to verify the information in it, however, he is able to verify the link among information presented in different parts of the financial statements and confront the financial statements with other relevant information available. My dissertation consists from theoretical and practical part. In the theoretical part, there are possible verifications described that can be performed by the user of the financial statements and in the practical part, there are the mentioned procedures applied to financial statements of four domestic companies. The subject of my research was financial statements for the years 2006 to 2009. The aim was not only the identification of the risks in the financial statements from the users' point of view, but also monitoring of the development of financial statements in time. The subject of the dissertation was also the verification of the formal correctness of audit reports issued to the selected financial statements (I am registered as Czech statutory auditor by the Chamber of Auditors of the Czech Republic and therefore I am able to perform this verification). The subject of the dissertation was not the verification of the factual correctness of the audit report, this verification is in principle not possible without possibility to look into the audit file. During analysis of selected financial statements I have identified several areas that represent risk of misstatement in the financial statements from the users' point of view. It related mainly to going concern issues, issues relating to completeness of reserves and provisions and risk of possible overvaluation of finance investments and related receivables to subsidiaries. The user of the financial statements should for his better understanding therefore look for other information relating to the company from freely available resources and perform comparison with financial statements of other companies in the same industry. The risks mentioned above were not sufficiently commented in the notes to the financial statements and that subsequently gives a rise to questions on financial statements users' side and lowers his confidence in information presented in the financial statements. I think that there is a change in the audit approach necessary, it should not be enough just that the financial statements are free from material misstatement; the financial statements should not give a rise to additional questions from their users.
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Internal audit - process and principles
Talaváňová, Eva ; Svobodová, Bára (advisor)
Bachelor thesis is focused on the topic of internal audit. In the introduction there is briefly mentioned the development of audit. This development has led to the separation of two different branches -- external and internal audit. The next part of the thesis deals with internal audit itself. It describes the contemporary conception, main aims and types of internal audit. The main focus is put on those principles which are necessary for internal auditors to practise their profession. There is also information about working process of internal audit. Particular stages are analyzed in detail in the thesis. The last part is focused on mission of an enterprise and process of internal audit in the company Shell Czech Republic a.s.
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Public Key Infrastructure audit approaches
Pěnka, Michal ; Doucek, Petr (advisor) ; Červený, Vlastimil (referee)
The aim of this work is to introduce fundamental concepts of public key infrastructure. Basic requirements for communication and related problems are presented. The solution of these problems can be found in cryptography. Different types of cyphers and infrastructures based on assymetric cryptography are described. The infrastructure types involve hierarchical system of certificate authorities and the web of trust. Furthermore, there is a list and description of cryptography software which can be used in the field of public key infrastructre. The main topic of this thesis is the audit of public key infrastructure. Audit can be supported by several available standards, e.g. WebTrust for Certificate Authorities, ETSI TS 101 456, ETSI TS 102 042 and ISO 21188:2006. This paper systematically describes these standards and using statistical methods compares and evaluates their complexity.
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Dissimilarities audit of business entities and economic review of state allowance organization
Kefurtová, Michaela ; Roubíčková, Jaroslava (advisor) ; Černý, Václav (referee)
The goal of this thesis is explanation the differences between audit and economic review. This thesis explains the basic concepts relating to audit and economic review. It also discusses the regulation of audit and review, not only czech but also international standards. At the same time also engaged in the audit process and its differences from the economic review. The practical part of the thesis focuses on the audit Ltd. company and economic review a state allowance organization. Finally of thesis is focused on the analysis of risk factors for both entities and evaluate the results of audit or review.
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Auditors ethics and cases of its violation
Skalický, Ivan ; Králíček, Vladimír (advisor) ; Janda, Antonín (referee)
This thesis deals with relation between audit and ethics. First part describes the role of ethics in society and demonstrates specifics of audit profession. Second part deals with ethical codes in audit. The output of this section is comparison of ethical rules in the Czech Republic and in the USA. The last part shows on the Satyam case consequences of auditors ethics violation.
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Tax Optimization for a Specific Entrepreneur
DANDOVÁ, Kateřina
Tax optimization for a Specific Entrepreneur. What does it mean? Specific topisc covered in my thesis include enventroy-taking, reserves, accruals a deferrals, non-deductible and deductible costs (expenses), foreing exchange rate variations, depreciation, provisions against receivables, accrual revenu, deffered tax and others. My thesis concents the tax optimization of a real client company, seated in Prague and working in the building industry.
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