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Audit and Accounting Guides & Audit Risk Alerts AICPA Audit Guide: Special Considerations in Auditing Financial Instruments
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ABSTRACTPrefaceIntroductionChapter 1 — Obtaining an Understanding About Financial InstrumentsChapter 2 — General Auditing ConsiderationsChapter 3 — The Entity’s System of Internal ControlChapter 4 — Assessing and Responding to the Risks of Material MisstatementChapter 5 — Valuation of Financial InstrumentsChapter 6 — Concluding on the Work Performed, Reporting Considerations, and Other Audit ConsiderationsChapter 7 — Case Study of Changing the Classification of a Security to Held to MaturityChapter 8 — Case Study of How an Entity’s Use of a Service Organization Affects the Auditor’s Considerations in Auditing Financial InstrumentsChapter 9 — Case Study of Separately Accounting for a Derivative Embedded in a BondChapter 10 — Case Study of the Use of an Interest Rate Swap to Hedge Existing DebtChapter 11 — Case Study of the Use of a Foreign Currency Put Option to Hedge a Forecasted Sale Denominated in a Foreign CurrencyAppendix A — Overview of Statements on Quality Management StandardsAppendix B — Illustrative Questions About the Entity’s Controls Over Its Financial Instrument Activities (Ref: par. 3.17)Appendix C — Examples of Control Objectives, Related Controls, and Illustrative Tests of Controls for Financial Instruments (Ref: par. 3.40)Appendix D — Information About the Black-Scholes Valuation Model (Ref: par. 1.46)Appendix E — Information About the Zero-Coupon Valuation Model (Ref: par. 1.46)Appendix F — Schedule of Changes Made to the Text From the Previous Edition
ABSTRACTPrefaceIntroductionChapter 1 — Obtaining an Understanding About Financial InstrumentsChapter 2 — General Auditing ConsiderationsChapter 3 — The Entity’s System of Internal ControlChapter 4 — Assessing and Responding to the Risks of Material MisstatementChapter 5 — Valuation of Financial InstrumentsChapter 6 — Concluding on the Work Performed, Reporting Considerations, and Other Audit ConsiderationsChapter 7 — Case Study of Changing the Classification of a Security to Held to MaturityChapter 8 — Case Study of How an Entity’s Use of a Service Organization Affects the Auditor’s Considerations in Auditing Financial InstrumentsChapter 9 — Case Study of Separately Accounting for a Derivative Embedded in a BondChapter 10 — Case Study of the Use of an Interest Rate Swap to Hedge Existing DebtChapter 11 — Case Study of the Use of a Foreign Currency Put Option to Hedge a Forecasted Sale Denominated in a Foreign CurrencyAppendix A — Overview of Statements on Quality Management StandardsAppendix B — Illustrative Questions About the Entity’s Controls Over Its Financial Instrument Activities (Ref: par. 3.17)Appendix C — Examples of Control Objectives, Related Controls, and Illustrative Tests of Controls for Financial Instruments (Ref: par. 3.40)Appendix D — Information About the Black-Scholes Valuation Model (Ref: par. 1.46)Appendix E — Information About the Zero-Coupon Valuation Model (Ref: par. 1.46)Appendix F — Schedule of Changes Made to the Text From the Previous Edition