CPA综合英语备考
复习重要性建议顺序：
（1）职业道德+审计+公司战略
（2）财管+经济法
（3）会计+税法
Unit 1 职业道德准则China Code of Ethics for Certified Public Accountants
3.因经济利益对独立性产生的不利影响
7.兼任审计客户的董事或高级管理人员Concurrently employed by the accounting firm and
Unit 2 审计Auditing
1.审计计划Audit Planning
实际执行的重要性The materiality of actual execution
确定实际执行的重要性需要注册会计师运用职业判断，并考虑下列因素的影响：
CPA should use professional judgment when determining the materiality of actual execution and consider the effects of following factors:
a.对被审计单位的了解；
Understanding the auditee;
b.前期审计工作中识别出的错报的性质和范围；
The nature and scope of misstatements identified in preliminary audit work;
c.根据前期识别出的错报对本期错报作出的预期。
Prediction of current period misstatements according to previous period misstatements identified.
通常而言，实际执行的重要性通常为财务报表整体重要性的50%-75%。
Generally, performance materiality will be at 50% to 75% of the materiality for the financial statements as a whole.
实际执行的重要性接近整体重要性50%的情况：a.非连续审计；b.以前年度审计调整较多；
c.项目总体风险较高。
Under the following circumstances, the performance materiality will be close to 50% of the overall materiality for the financial statements: a.It is a non-recurring audit; b.There were many audit adjustments in previous years; c.The overall risk of the project is high.
接近75%的具体情况：a.连续审计，以前年度审计调整较少；b.项目总体风险较低。
The performance materiality will be close to 75% of the overall materiality for the financial statements under the following circumstances: a.It is a recurring audit and there were few audit adjustments in previous years; b.The overall risk of the project is low.
2.风险评估和风险应对Risk Assessment and Responding to the Risk Assessment
（1）风险评估
注册会计师应当实施下列风险评估程序，以了解被审计单位及其环境：[1]询问管理层和被审计单位内部其他相关人员；[2]分析程序;[3]观察和检查。
In order to understand the entity and its environment, procedures of risk assessment are as follows: [1]Inquiries;[2]Analytical procedures; [3]Observation and inspection.
注册会计师了解被审计单位及其环境,包括其内部控制,目的是识别和评估在财务报表层面和认定层面,由于舞弊或者错误而存在的重大错报风险,并在此基础上设计和实施应对的措施。
The objective of the auditor is to identify and assess the risk of material misstatement, whether due to fraud or error, at the financial statement
The CPA understands the entity and its environment, includes its internal control, in order to identify and assess the risk of material misstatement at the financial statement and assertion levels due to fraud or error, and designs and implements responses to the assessed risks of material misstatement on this basis and assertion levels, through understanding the entity and its
environment, including the entity’s internal control, thereby providing a basis for designing and implementing responses to the assessed risks of material misstatement.
注册会计师应当从下列方面了解被审计单位及其环境：[1]相关行业状况、法律环境与监管环境及其他外部因素;[2]被审计单位的性质;[3]被审计单位对会计政策的选择和运用;[4]被审计单位的目标、战略以及可能导致重大错报风险的相关经营风险;[5]对被审计单位财务业绩的衡量和评价;[6]被审计单位的内部控制。
The auditor should understand the entity and its environment as follows : [1]Related industry status, legal and regulatory environment and other external factors; [2]The nature of the
entity;[3]The selection and application of accounting policy;[4]The objectives, strategy and business risk that can lead to material misstatement risks;[5]Measurement and evaluation of financial performance;[6]The internal control.
注册会计师通过询问、观察、检查和穿行测试了解被审计单位的内部控制，以评价内部控制设计的是否合理以及是否得到执行。
Auditors understand the internal controls of the entity by inquiries, observation, inspection and walk-through test to evaluate whether the internal controls are designed reasonably and implemented effectively.
内部控制存在固有局限性，无论如何设计和执行，只能对财务报告的可靠性提供合理保证。
No matter how to be designed and implemented, any internal control system can only provide auditor with reasonable assurance because of inherent limitations.
内部控制包括下列五个要素：[1]控制环境;[2]风险评估过程;[3]与财务报告相关的信息系统与沟通;[4]控制活动;[5]对控制的监督。
Internal control has five elements:
[1]The control environment;
[2]The process of risk assessment;
[3]The information system and communication;
[4]Control activities;
[5]Supervision of controls.
relevant to/ associated with financial reporting
Monitoring
The entity’s risk assessment process
（2）风险应对Responding to the risk assessment
a.针对财务报表层次重大错报风险
注册会计师应当针对评估的财务报表层次重大错报风险确定下列总体应对措施：
Overall responses to the risks of material misstatements at the financial statement level will include the following :
[1]向项目组强调保持职业怀疑的必要性；
Emphasize to the audit team on the necessity to maintain the professional skepticism;
[2]指派更有经验或具有特殊技能的审计人员，或利用专家的工作；
Appoint auditors with more experience and special skills, or use the expert’s work.
[3]提供更多的督导；
Provide more monitoring;
[4]在选择拟实施的进一步审计程序时融入更多的不可预见的因素。
Integrate more unforeseeable elements into further audit procedures.
[5]对拟实施审计程序的性质、时间安排和范围做出总体修改。
Amend the nature, timing and extent of further audit procedures as a whole.
b.针对认定层次重大错报风险
进一步审计程序是指注册会计师对评估的各类交易、账户余额和披露认定层次重大错报风险实施的审计程序，包括控制测试和实质性程序。
Further audit procedures means the procedures carried out for the risks of material misstatements to each transaction class, account balance and disclosure at the assertion level, which include tests of controls and substantive procedures.
refers to
, and they are carried out
, and they include
进一步审计程序的类型包括检查、观察、询问、函证、重新计算、重新执行和分析程序。在设计进一步审计程序时，注册会计师应当考虑下列因素：
Further audit procedures include inspection, observation, inquiry, confirmation, recalculation, reperformance and analytical procedures.In designing further audit procedures the auditor should consider:
[1]风险的重要性；
The significance of the risk;
[2]重大错报发生的可能性；
The probability of material misstatements;
[3]涉及的各类交易、账户余额和披露的特征；
The characteristics of the transactions, account balances and disclosures;
[4]被审计单位采用的特定控制的性质；
The nature of specific control in the entity;
[5]注册会计师是否拟获取审计证据，以确定内部控制在防止或发现并纠正重大错报方面的有效性。
Whether the auditor expects to obtain audit evidence to test the effectiveness of internal control to prevent or detect and correct material misstatements.
3.业务循环审计Business Cycle Audit
（1）截止测试Cut-off test
对销售实施截止测试，其目的主要在于确定被审计单位营业收入的会计记录归属期是否正确。注册会计师在审计中应该注意把握三个与营业收入确认有着密切关系的日期：[1]发票开具日期；[2]记账日期；[3]发货日期。
The objective of cut-off testing of sales is to determine whether the sales have been recorded in the correct accounting period.During the audit, the auditor should pay close attention to three dates relating to the sales, they are: [1]invoice date; [2]recording date; [3]shipping date.
（2）函证Confirmation
函证应收账款的目的在于证实应收账款账户余额的真实性、正确性，防止或发现被审计单位及其有关人员在销售交易中发生的错误或舞弊行为。
The objective of receivables’ confirmation is to obtain sufficient and appropriate evidence for the assertions of existence and accuracy and to prevent or discover the errors or frauds made by the client and its staff in the sales transactions cycle.
函证程序：函证的对象→函证的方式→函证时间的选择→函证的控制→对不符事项的处理→对函证结果的总结和评价。
Procedures: Objects→Methods→The selection of time→Control Dealing with item discrepancy→The summarization and estimation of confirmation results.
（3）存货监盘Supervision of stocktaking
①监盘程序Procedures of supervision of stocktaking
评价盘点的控制→观察盘点的执行→检查存货→执行抽盘
Evaluate control of stocktaking → Observe performance of stocktaking → Check inventory →Perform sampling of counting
②执行抽盘Perform sampling of stocktaking
③存货盘点范围Scope of counting inventory
4.对特殊项目的考虑Considerations for Exceptional Items
（1）对舞弊和法律法规的考虑Considerations for fraud, laws and regulations
a.治理层、管理层的责任Responsibility of those charged with governance, management
被审计单位治理层和管理层对防止或发现舞弊负有主要责任。
Those charged with governance and management is responsible for preventing or detecting fraud.
b.注册会计师对发现舞弊方面的责任The responsibility of auditors on fraud
a）在按照审计准则的规定执行审计工作时，注册会计师有责任对财务报表整体是否不存在由于舞弊或错误导致的重大错报获取合理保证。
An auditor is responsible for obtaining reasonable assurance that the financial statements on the whole are free from material misstatements arising from fraud or error when auditing in terms of audit standards.
b）注册会计师应当在整个审计过程中保持职业怀疑态度，并应当意识到，对有效发现错误的审计程序未必适用于发现舞弊。
The auditor should maintain professional skepticism throughout the audit, and recognize the fact that effective audit procedures to detect errors may not be applied to detect fraud.
c）发现舞弊时对审计的影响Effects of detecting fraud on auditing.
> 如果发现某项错报，注册会计师应当考虑该项错报是否表明存在舞弊。
If a misstatement is detected, auditors shall consider whether the misstatement implicates a fraud.
indicates, means
> 如果认为错报是舞弊或可能是舞弊导致的，即使错报金额对财务报表的影响并不重大，注册会计师仍应考虑错报涉及的人员在被审计单位中的职位。如果错报涉及较高级别的管理层，即使错报金额对财务报表的影响不重大，也可能表明存在更具广泛影响的问题。
If the misstatement arises or may arise from fraud, even if the amount of the misstatement have no significant influence over the financial statements, auditors still should consider the position of the person involved in the entity.
If the material misstatement relates to higher level management, even if the misstatement amount has no large effect on financial statements, it may indicate that it may have problems which have more comprehensive effects.
（2）集团财务报表审计Auditing Group Financial Statements
重要性Materiality
a.集团财务报表整体的重要性The overall materiality of the group financial statements
a）在制定集团总体审计策略时,集团项目组确定集团财务报表整体的重要性。
The audit team should determine the overall materiality of group financial statements when they
set up the overall audit strategy for the group.
b）根据集团的特定情况,如果集团财务报表中存在特定类别的交易、账户余额或披露,其发生的错报金额低于集团财务报表整体的重要性,但合理预期将影响财务报表使用者依据集团财务报表作出的经济决策,则确定适用于这些交易、账户余额或披露的一个或多个重要性水平。
If there are certain special transactions, accounts balances or disclosures in the group financial statements, and the misstatement amount is lower than the overall materiality of group financial statement, but it is expected that potential users will make economic decisions based on the group financial statements, the accounting firm should set up one or more materiality levels that are applicable to these special transactions, accounts balance or disclosures based on certain circumstances of the group.
b.组成部分重要性The materiality of the components
a）为将未更正和未发现错报的汇总数超过集团财务报表整体的重要性的可能性降至适当的低水平,需要将组成部分重要性设定为低于集团财务报表整体的重要性。
In order to reduce the risk that the uncorrected and undiscovered misstatement amount exceeds the overall materiality of the group financial statement to an acceptable low level, the materiality of the components should be set up at a level that is lower than the materiality of the group.
b）针对不同的组成部分确定的重要性可能有所不同。但无需采用将集团财务报表整体重要性按比例分配的方式。
The materiality of different components may be different.But it is not necessary to adopt allocation method of the overall materiality on pro-rata basis among components.
c）对不同组成部分确定的重要性的汇总数,有可能高于集团财务报表整体重要性。
The sum of the materiality level of different components may be higher than the overall materiality of the group financial statement.
d）在制定组成部分总体审计策略时,需要使用组成部分的重要性。
The materiality of the components should be used when setting up the overall auditing strategy of the components.
c.明显微小错报的临界值Threshold of obvious small misstatement
注册会计师需要设定临界值,不能将超过该临界值的错报视为对集团财务报表明显微小的错报。组成部分注册会计师需要将在组成部分财务信息中识别出的超过临界值的错报通报给集团项目组。
The CPA should set up a threshold for which if the misstatement exceeds the threshold, CPA should not regard it as obvious small misstatement.The CPA who audits the components financial statement should report the misstatement which is identified in the component financial information and exceeds the threshold to group audit team.
5.审计报告Audit Report
（1）管理层对财务报表的责任
编制和公允列报财务报表是管理层的责任，这种责任包括：a.按照企业会计准则的规定编制财务报表，并使其实现公允反映；b.设计、执行和维护必要的内部控制，以使财务报表不存在由于舞弊或错误导致的重大错报。
Management is responsible for the preparation and fair presentation of these financial statements, including: a.preparing and fairly presenting these financial statements in accordance with Accounting Standards for Business Enterprises; b.designing, implementing and maintaining
necessary internal control so that financial statements are free from material misstatement due to fraud or error.
（2）注册会计师对审计报告的责任The responsibility of auditors
注册会计师应当就财务报表是否在所有重大方面按照适用的财务报告编制基础编制并实现公允反映形成审计意见。
Auditor shall form an opinion on whether the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework, and reflect fair presentation.
为了形成审计意见，针对财务报表整体是否不存在重大错报，注册会计师应当得出结论，确定是否已就此获取合理保证。
In order to form the opinion, the auditor needs to conclude as to whether the financial statements as a whole are free from material misstatements, and whether reasonable assurance has been obtained.
（3）审计意见Opinion
我们认为，ABC公司财务报表在所有重大方面按照企业会计准则的规定编制，公允反映了ABC公司2012年12月31日的财务状况以及2012年度的经营成果和现金流量。
In our opinion，the financial statements are prepared in all material respects in accordance with Accounting Standards for Business Enterprises, and reflect fairly the financial position of ABC Company on 31 December 2012，and its business performance and its cash flows for the year.
excluding the influence caused by the above paragraph……
除……所述事项段产生的影响外
Unqualified opinion（explanatory/emphasis paragraph）
Qualified opinion, adverse opinion, disclaimer of opinion
6.会计师事务所业务质量控制Quality Control of The Accounting Firm’s Engagement
业务执行Engagement execution
（1）指导、监督与复核Guidance, supervision and review
项目合伙人负责组织对业务执行实施指导（事前）、监督（事中）与复核（事后）。
Project partner is responsible for organizing the execution of guiding （before）, supervising （during）and reviewing （after）business execution.
（2）咨询Consultation
项目组应当考虑就重大的技术、职业道德及其他事项,向会计师事务所内部或在适当情况下向会计师事务所外部具备适当知识、资历和经验的其他专业人士咨询,并适当记录和执行咨询形成的结论。
As for material technology, professional ethics and other items, project team should consider consulting other professionals with appropriate knowledge, qualification and experience inside or outside （if appropriate ）the accounting firm, and appropriately record and carry out the conclusion gotten from consultation.
（3）意见分歧Different ideas
只有项目组内部意见分歧问题得到解决,项目合伙人才能出具报告。
Project partners could issue report only when the problems of different ideas inside the project team have been settled.
（4）项目质量控制复核Project quality control review
会计师事务所挑选“不参与”该业务的人员,在“出具报告前”,对项目组做出的重大判断
和在准备报告时形成的结论做出客观评价的过程。项目质量控制复核并不减轻项目合伙人的
责任。
The accounting firm selects staffs who do not participate in the project to objectively evaluate the material judgments made by project team and conclusion gotten in preparing report before the report is issued.Project quality control review does not reduce the project partner’s responsibility.
Unit 5 公司战略与风险管理Corporate Strategy and Risk Management
1.产业五种竞争力
Five competitive forces of industry
（1）五种竞争力分析Analysis of 5 forces
a.潜在进入者的进入威胁
Potential new entrants’ threat
b.替代品的替代威胁The threat of substitute products
产品替代有两类，一类是直接产品替代，另一类是间接产品替代。
There are two types of substitute products, one is direct substitution, and the other is indirect substitution.
c.
d.产业内现有企业的竞争Intra industry competition from existing businesses
a）产业内有众多的或势均力敌的竞争对手；There are numerous or close competitors in the industry;
b）产业发展缓慢；Slow development of the industry;
c）顾客认为所有的商品都是同质的；Customers believe that all products are homogeneous;
d）产业中存在过剩的生产能力；There is excess production capacity in the industry;
e）产业进入障碍低而退出障碍高。Low barrier to entry and high exit barrier.
（2）对付五种竞争力的战略Strategies of five competitive factors
首先，公司必须自我定位，通过利用成本优势或差异优势把公司与五种竞争力相隔离，从而能够超过它们的竞争对手。
First of all, companies should position themselves through the use of cost advantage or differential advantage to keep away from the five competitive factors, so that they can achieve more than their competitors.
其次，公司必须识别在产业中哪一个细分市场中，五种竞争力的影响更少一点。
Secondly, companies must identify the market segment in which the influence of five competitive factors is less.
最后，公司必须努力去改变这五种竞争力。
Finally, the company must work hard to change the five competitive factors.
3.总体战略Overall strategy
1.1 发展战略Development strategy
1.2 稳定战略Stability strategy
1.3 收缩战略Retrenchment strategy
1.1发展战略Development strategy
（1）一体化战略Integration Strategy （2）密集型战略Intensive growth strategy
（1）一体化战略Integration Strategy 一体化战略
（2）密集型战略Intensive growth strategy
（3）多元化战略Diversification strategy
1.2 稳定战略Stability strategy
1.3 收缩战略Retrenchment strategy