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    Dephta Furniture - 1

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    lidia bkr
    1. The furniture manufacturing company Dephta Furniture Inc and its key challenges facing the industry such as economic recession and increased competition. 2. The company uses basic accounting software and lacks formal inventory and employee records, making it susceptible to misstatements. 3. The audit team must determine overall materiality, assess risks of misstatement, and set performance materiality to guide the audit in addressing these risks and ensuring financial statements are free of material misstatement.

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    Dephta Furniture - 1

    Uploaded by

    lidia bkr
    158 views31 pages
    1. The furniture manufacturing company Dephta Furniture Inc and its key challenges facing the industry such as economic recession and increased competition. 2. The company uses basic accounting software and lacks formal inventory and employee records, making it susceptible to misstatements. 3. The audit team must determine overall materiality, assess risks of misstatement, and set performance materiality to guide the audit in addressing these risks and ensuring financial statements are free of material misstatement.

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    1. The furniture manufacturing company Dephta Furniture Inc and its key challenges facing the industry such as economic recession and increased competition. 2. The company uses basic accounting software and lacks formal inventory and employee records, making it susceptible to misstatements. 3. The audit team must determine overall materiality, assess risks of misstatement, and set performance materiality to guide the audit in addressing these risks and ensuring financial statements are free of material misstatement.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    158 views31 pages

    Dephta Furniture - 1

    Uploaded by

    lidia bkr
    1. The furniture manufacturing company Dephta Furniture Inc and its key challenges facing the industry such as economic recession and increased competition. 2. The company uses basic accounting software and lacks formal inventory and employee records, making it susceptible to misstatements. 3. The audit team must determine overall materiality, assess risks of misstatement, and set performance materiality to guide the audit in addressing these risks and ensuring financial statements are free of material misstatement.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 31

    PENGAUDITAN

    CASE STUDY A
    - Dephta Furniture, Inc. -

    Yossi Triana
    Sally
    Lidia
    Christine
    Dephta Furniture, Inc

    Background
    • Dephta Furniture, Inc - Furniture Manufacturing Company
    • 3 poduk utama:

    Baru-baru ini DF berkembang sangat pesat. Namun Industri furnitur dengan


    mengalami tantangan:
    • Menurunnya ekonomi karena resesi
    • Banyak customer yangn membatasi pengeluaran mereka
    • Kompetisi
    • Tekanan untuk menurunkan harga demi meningkatkan penjualan
    • Banyak pabrik-pabrik perangkat furniture yang bangkrut sehingga menyebabkan
    keterlambatan produksi furniture
    Dephta Furniture, Inc

    Governance & Personnel


    Dephta Furniture, Inc

    Ownership
    Dephta Furniture, Inc

    Operations & Sales


    Dephta Furniture, Inc

    • IT
    Dephta Furniture, Inc menggunakan 6 PC dan 1 server untuk terhubung
    dengan internet.
    Perusahaan menjalankan backup untuk system akuntansi di external hard
    drive.
    Dephta Furniture, Inc jug menggunakan firewall protection dan password
    protection.
    • HR dan Payroll
    Hiring decision dipegang oleh Dameer dan Suraj.
    Pegawai dibayar dengan cash setiap awal minggu.
    Salah satu staff jawad bernama karla bertanggung jawab atas payroll.
    Perusahaan tidak menyimpan catatan karyawan secara formal.
    • Purchasing and Production
    Dameer bertanggung jawab untuk purchasing dan produksi.
    Sistem persediaannya belum terlalu canggih.
    Dephta Furniture, Inc

    Accounting & Finance


    • Dephta Furniture, Inc menggunakan “Sound Accounting” Software
    • Notes:
    – Perusahaan tidak punya system inventory yang perpetual.
    – Jawad sendiri kewalahan karena control terhadap persediaan yang
    kurang karena hanya dihitung 2 kali dalam 1 periode.
    – Gross margin Dephta Furniture, Inc tidak konsisten.
    – Suraj tidak suka membayar pajak penghasilan, sehingga Suraj
    mendorong Jawad untuk memastikan bahwa akrual perusahaan
    “sudah lebih dari cukup”.
    Dephta Furniture, Inc
    ENGAGEMENT ACCEPTENCE & CONTINUANCE
    Determining and Using Materiality
    Overall Materiality, Specific Materiality, Performance Materiality
    Determining and Using Materiality
    Overview | Materiality
    Purpose
    • Form the basis for risk assessment
    • Determining the extent of auditing procedures

    Determining Materiality
    • Matter of professional judgement
    • Based on auditor’s perception of the common financial
    information needs.

    Usage
    • Risk Assessment, Risk Response, and Reporting
    Overview | Performance Materiality
    Purpose
    • Reduce risk to an appropriately low level that the
    accumulation of uncorrected and unidentified
    misstatement exceeds overall materiality or specific
    materiality.

    Determining Performance Materiality


    • Professional judgement
    • Auditor’s understanding of the entity
    • Matters the auditor has identified in previous audit
    engagements
    Case Study A | Dephta Furniture, Inc.

    • £ 10.000 • 5% from
    profit before
    • £ 7.500 tax after
    • £ 1.000 adjustment
    • Local sales tax
    Dephta Furniture, Inc

    Audit Team Discussion


    • SA 240, 300, 315
    • Tujuan dan sifat diskusi yang diperlukan di antara tim audit
    adalah tentang kerentanan laporan keuangan entitas
    terhadap salah saji material.
    • Keuntungan dari komunikasi yang baik:
    – Audit Productivity
    – Audit Effectiveness
    – Staff Deveopment
    Dephta Furniture, Inc

    • Berikut adalah summary tentang apa yang harus


    diperhatikan dan didiskusikan dalam komunikasi tim audit:

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