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Konsep Risk Based Audit

TUJUAN AUDIT
Dalam melaksanakan suatu audit atas laporan keuangan, tujuan
keseluruhan auditor adalah:
a. Memperoleh keyakinan memadai tentang apakah laporan keuangan
secara keseluruhan bebas dari salah saji material, baik yang
disebabkan oleh kecurangan maupun kesalahan, dan oleh karena
itu memungkinkan auditor untuk menyatakan opini atas apakah
laporan keuangan disusun, dalam semua hal yang material, sesuai
dengan kerangka pelaporan keuangan yang berlaku; dan

b. Menerbitkan laporan tentang laporan keuangan dan

mengomunikasikannya (sebagaimana yang disyaratkan oleh SA)
berdasarkan temuan auditor.

SA 200.11
Konsep Risk Based Audit

Risk of Material
Assertion
Misstatements
Konsep Risiko
Risiko Bawaan (Inherent Risk)

Risiko Bisnis (Business Risk)

Risiko Pengendalian (Control Risk)

Risiko Salah Saji Material (RoMM)

Risiko Pendeteksian (Detection Risk)

Detailed Assertion
Assertion Description

Classes of Occurrence Transactions and events that have been recorded have
Transactions and occurred and pertain to the entity.
Events for the Completeness All transactions and events that should have been
Period under Audit recorded have been recorded.
Accuracy Amounts and other data relating to recorded transactions
and events have been recorded appropriately.
Cut off Transactions and events have been recorded in the correct
accounting period.
Classification Transactions and events have been recorded in the proper
accounts.
 Detailed Assertion
Assertion Description
Account Existence Assets, liabilities, and equity interests are exist.
Balances at Rights and The entity holds or controls the rights to assets and liabilities that
the Period Obligations are the obligations of the entity.
End
Completeness All assets, liabilities, and equity interests that should have been
recorded have been recorded.
Valuation and Assets, liabilities, and equity interests are included in the financial
Allocation statements at appropriate amounts, and any resulting valuation or
allocation adjustments are appropriately recorded.

Assertion Description
Presentation Occurrence, Disclosed events, transactions, and other matters have occurred
and Rights, and and pertain to the entity.
Disclosure Obligations
Completeness All disclosures that should have been included in the financial
statements have been included.
Classification and Financial information is appropriately presented and described,
Understandability and disclosures are clearly expressed.
Accuracy and Financial and other information is disclosed fairly and at
Valuation appropriate amounts.
Detailed Assertion
Classes of Account Presentation and
Assertions
Transaction Balances Disclosure
Existence/ √ √ √
occurrence

Completeness √ √ √

Rights and √ √
obligations

Accuracy/ √ √
classification

Cut off √

Classification and √ √
understandability

Valuation/ √ √
allocation
Combined Assertion
Classes of Account Presentation and
Combined Assertions
Transactions Balances Disclosure
Completeness (C) Completeness Completeness Completeness
Existence (E) Occurrence Existence Occurrence
Accuracy and Cut off Accuracy Cut off Rights and Accuracy, Rights and
(A) Classification Obligations Obligations,
Classification and
Understandability
Valuation (V) Valuation and Valuation
Allocation
Combined Assertion
Combined
Description
Assertion
Completeness (C) Everything that should be recorded or disclosed in the financial statements
has been included. There are no unrecorded or undisclosed assets, liabilities,
transactions, or events; there are no missing or incomplete financial
statements notes.
Existence (E) Everything that is recorded or disclosed in the financial statements exists at
the appropriate date and should be included. Assets, liabilities, recorded
transactions, and other matters included in the financial statements notes
exist, have occurred, and pertain to the entity.
Accuracy and All liabilities, revenues, expense items, and rights to assets (in the form of a
Cutoff (A) hold or control) are the property or obligation of the entity and have been
recorded at the proper amount and allocated (cut off) to the proper period.
This also includes proper classification of amounts and disclosures in the
financial statements.
Valuation (V) Assets, liabilities, and equity interests are recorded in the financial statements
at the appropriate amount (value). Any valuation or allocation adjustments
required by their nature or applicable accounting principles have been
appropriately recorded.
Combined Assertion
Financial Statements
Financial Statements (Overall)
Level
Pervasive risks that could
apply to many assertions Low

Assertion Level (partial)

Account Balances Inventory Cash Payables

Classes of Transactions
Revenues Expenses

Related
Presentation & Disclosure Commitments
Parties

Relevant Assertions C Low

E Mod
(Assess risk for
A Low
each assertion)
V High
Manfaat Audit Berbasis Resiko

1) Fleksibilitas waktu
2) Upaya tim audit terfokus pada area kunci/yang
paling penting
3) Prosedur audit terfokus pada risiko
4) Pemahaman atas pengendalian internal
5) Komunikasi tepat waktu
TAHAPAN AUDIT

Risk Risk
Assessment Reporting
Response
RISK ASSESMENT
Sekilas Perencanaan Audit
RISK RESPONSE
REPORTING
Materiality
Extent of Misstatements
(Quantitative and qualitative)

The Subject Reasonable

Matter Information User
Decision would
be changed or
Misstatements
influenced
are Material

Materiality
threshold

Misstatements Decision would

are immaterial not be changed
or influenced
Materiality
“Overall” Materiality
(for the financial statements as a whole)

Financial
“Overall” Performance Materiality
Statements Level

“Specific” Materiality
(for particular financial statements areas)
Account Balance,
Class of Transactions
and Disclosures Level “Specific” Performance
Materiality

Quantitative Amount
 Materiality and Audit Risk

RMM = IR * CR
AR = RMM * DR
RMM = Risk of Material Misstatement
IR = Inheren Risk
CR = Control Risk
AR = Audit Risk
DR = Decection Risk
Sekilas Perencanaan Audit
Entity Objective
Prepare financial statements that are not materially misstated
Low Risk Moderate Risk High Risk

Inherent Business/ fraud risks that would prevent objective

Risk being achieved

Control Management’s Response:

Risk Internal control that mitigate the risks
identified

Risk of
Material Management’s
Misstatement Residual Risk

Low Risk exposure to fraud and error High

Sekilas Perencanaan Audit
Auditor’s Objective
Determine whether entity’s financial statements
are free from material misstatement

Low Risk Moderate Risk High Risk

Inherent Where could material misstatements in the financial

Risk statements occur?

Control Do management’s internal controls

Risk mitigate the inherent risks identified

Risk of Assessed risk

Material of misstatement
Misstatement Audit procedures designed to respond to risks
of misstatement identified
Audit risk reduced to
an acceptably low level

Low Risk exposure to fraud and error High

Risk Based Audit

Mengidentifikasi Menilai
Inherent Risk

Business Risk
Fraud Risk
Inherent Risk
Source of Risk

Entity objectives
& strategies

Internal External
control factors
RMM in the
Financial
Statements
Accounting Nature of
policies entity

Performance
indicators

RMM = Risks of Material Misstatements

Inherent Risk
Nature of industry
A. External Factors Regulatory environment
Financial reporting framework
Operations and key personnel
B. Nature of Entity Ownership and governance
Investment, structure and financing
Selection and application
C. Accounting Policies Reasons for changes
Appropriateness to entity
Business plans and strategies
D. Entity Objectives & Strategies Financial implications and risks undertaken

E. Measurement/Review of Financial What is measured

Performance Who reviews financial results
Process and relevant controls to mitigate risk at
F. Internal Control Relevant to the Audit the entity level and at the transactional level
Inherent Risk
Sources of Business and Fraud Risk
Entity Objectives and • Inappropriate, unrealistic, or overly aggressive objectives and
Strategies strategies
• New products or services, or moving into new lines of business
• Entering into business areas/transactions with which the entity
has little experience
• Inconsistencies between IT and business strategies
• Response to rapid growth or decline in sales that can strain
internal control systems and people’s skills
• Use of complex financing arrangements
• Corporate restructurings
• Significant transactions with related parties
Inherent Risk
Sources of Business and Fraud Risk
External • State of the economy and changes in government regulation.
Factors • Declining demand for the entity’s products or services
• High degree of complex regulation
• Changes in the industry
• Inability to obtain required resources (materials or skilled personnel)
• Deliberate sabotage of an entity’s product or services
• Constraints of the availability of capital and credit

Nature of • Poor corporate culture and governance

Entity • Incompetent personnel in key positions
• Changes in key personnel, including departure of key executives
• Complexity in operations, organizational structure, or products
• Product or service flaws that may result in liabilities and reputation risk.
• Failure to recognize the need for change (skills required or technology)
• Weaknesses in internal control, especially those not addressed by management
• Poor relationship with external funders, such as banks.
• Going concern and liquidity issues, including loss of significant customers
• Installation of new systems related to financial reporting
Inherent Risk
Performance • Performances measures not used by management to
Indicators assess the entity’s performance and achievement of
objectives
• Measures not used to improve operations or take
corrective actions
Accounting • Inconsistent application of accounting policies
Policies • Inappropriate use of accounting policies
Internal control • Inadequate management oversight of day-to-day
operations.
• Poor on nonexistent control over entity-level activities such
as human resources, fraud, and preparation of accounting
information such as estimates and financial reports.
• Poor or nonexistent controls over transactions such as
revenues, purchases, expenses, and payroll.
• Poor safeguarding of assets.
Inherent Risk
Internal Sources External Sources

Financial Information
Information on the internet
Financial statements
Industry information
Budgets
Competitive intelligence
Reports
Credit rating agencies
Performance measures
Creditors
Tax returns
Government agencies
Accounting policies in use
Media and other external
Judgments and estimates
parties
Non-financial Information

Visions, values, objectives

and strategies
Information on the internet
Organizations structure
Trade association data
Jobs descriptions
Industry forecast
Human Resources files
Government agencies
Performance indicators
Media articles
Policy and procedures
manuals
Inherent Risk
High Impact High Impact

Impact (magnitude) of risk

Low Likelihood High Likelihood

Low Impact Low Impact

Low Likelihood High Likelihood

Likelihood of Risk Occuring

= Identified Risk Factor
Risiko Signifikan
Dalam menentukan risiko mana merupakan risiko signifikan, auditor wajib
mempertimbangkan setidak-tidaknya :
a) Apakah risiko itu merupakan risiko kecurangan;
b) Apakah risiko itu berkaitan dengan perkembangan ekonomi akhir-akhir ini,
perkembangan akuntansi atau perkembangan lain yang signifikan dan,
karenanya, memerlukan perhatian khusus;
c) Kompleksitas transaksi;
d) Apakah risiko itu melibatkan transaksi signifikan dengan pihak terkait;
e) Tingkat subjektivitas dalam pengukuran informasi keuangan terkait dengan
risiko tersebut, khususnya pengukuran yang melibatkan banyak
ketidakpastian; dan
f) Apakah risiko itu melibatkan transaksi signifikan di luar jalur bisnis entitas,
atau yang terlihat “aneh”.
Unsur Pengendalian Internal
Lingkungan Pengendalian Internal
Pengendalian Internal pada Laporan Keuangan
Audit Respons

Periode Akhir
Periode Interim
Tahun
Audit Respons
Faktor relevan dalam menentukan bukti audit tambahan setelah
interim:
• Signifkansi risiko yang ditentukan atas kesalahan penyajian material
pada tingkat asersi.
• Perubahan penting atas pengendalian tersebut sejak pengendalian
tersebut diuji, termasuk perubahan dalam sistem informasi, proses,
dan karyawan.
• Tingkat bukti audit atas efektivitas operasi pengendalian tersebut
diperoleh.
• Lamanya sisa periode.
• Luas prosedur substantif lebih lanjut yang auditor ingin kurangi
berdasarkan keyakinan auditor atas pengendalian.
• Lingkungan pengendalian.
Audit Respons - SIFAT

Test of
Test of
Effectiveness
Substantive
Internal Control
Audit Respons - SIFAT

Uji Pengendalian (Test of controls)

Prosedur analitikal substantif

(Substantive analytical procedures)

Prosedur pengujian substantive rinci

Pendadakan (Unpredictability)

Management override
Sumber:

Pusat Pembinaan Profesi Keuangan

TERIMA KASIH