3. PROFIL KANTOR AKUNTAN PUBLIK DAN KLIEN
4.3. Program Audit KAP AAJ atas Piutang Usaha
KAP AAJ menerapkan metodogi audit yang disebut RSMi Methodology dalam menjalankan setiap pelaksanaan audit. Di dalam RSMi Methodogy terdapat audit program yang teridi dari prosedur audit dan asersi yang terkait dengan prosedur tersebut untuk masing-masing akun. Adapun tujuan dari audit atas akun piutang yang dilakukan KAP AAJ dapat dilihat pada tabel 4.4 sebagai berikut:
Tabel 4.4. Tujuan Audit atas Akun Piutang KAP AAJ
Audit Objective
(1) Piutang usaha yang tercatat benar-benar terjadi dan merupakan aset asli dari bisnis (existence).
(3) Piutang usaha milik bisnis dan pengungkapan yang tepat telah dilakukan dari setiap perjanjian, diskon, atau penentuan piutang (rights and obligations).
(4) Piutang usaha tidak mengandung jumlah yang signifikan yang harus dihapuskan dan penyisihan untuk piutang tak tertagih memadai tapi tidak berlebihan (valuation). (5) Piutang usaha diklasifikasikan, dijelaskan, dan diungkapkan secara tepat dalam laporan keuangan (presentation and disclosure).
Sumber: Working Paper Audit PT XYZ 30 Juni 2012
Adapun program audit atas akun piutang berdasarkan RSMi Methodology seperti yang dapat dilihat pada tabel 4.5. adalah sebagai berikut:
Tabel 4.5. Program Audit Akun Piutang KAP AAJ
No. Audit Procedure Assert
A. BASIC PROCEDURES
Accounts Receivable Listing
1. For manual listings: A
Obtain the client’s detailed aged trade accounts receivable listing at the period end and:
a) Agree to general ledger b) Test mathematical accuracy
c) Select a sample of ___ - invoices from the AR listing and vouch to supporting documents. Ensure that aging of selected invoices is accurate.
2. For electronic listings: A
Obtain electronically the entity's detailed aged trade accounts receivable listing
a) Agree control total to general ledger to ensure the listing was imported accurately and completely.
b) Using the IDEA Audit Automation Tool, re-age the client's AR listing and ensure that aging is accurate.
c) Select a sample of ___ - invoices from the AR listing and vouch to supporting documents to ensure integrity of listing.
Credit Balances
3. For manual listings: A
Investigate significant credit balances and consider their transfer to accounts payable.
Using the IDEA Audit Automation Tool, extract credit balances. Investigate significant credit balances and consider their transfer to accounts payable.
Related Party Transactions 5.
Enquire of management whether all related party transactions were appropriately identified (e.g. major cancelable contract or transact a significant volume of business with a sole customer) and recorded.
C
6. Document transactions and ending balances with related parties and ensure they are disclosed in the financial statements.
A
7. For inter-entity accounts, assess and document collectibility by examining the other entity's financial statements and discussing with a responsible official.
V
8.
Verify that inter-entity accounts are in agreement if we are the auditors of both entities; if not, obtain written confirmation
C, E, A
Translation 9.
Verify that trade receivables denominated in foreign currencies were translated at the appropriate exchange rate.
V
Factored Accounts Receivable Allowance for Doubtful Accounts
10. IDEA not used: V
Ensure allowance for doubtful accounts is adequate by performing the following
a) Discuss with management key assumptions used in preparing the allowance.
b) Document procedures followed by management to determine allowance for doubtful accounts.
c) Verify subsequent receipts by selecting a sample of ___ - cash receipts and vouching to supporting documentation.
(If possible, obtain an aged trial balance as at the period end date with subsequent collections posted on it).
d) Select account balances with past due balances which have not been paid at the date subsequent receipts were verified, discuss account status with the credit manager and determine if an allowance should be taken on each of those account balances.
e) Agree bad debt expenses and related bad debt write offs to supporting documentation, (e.g., letter from trustees in bankruptcy) and ensure proper approval of write offs.
Bad Debt Write-Off 11.
Examine bad debt write offs subsequent to the statement date and verify if they should have been reflected in the current period
No. Audit Procedure Assert
B. NON-ASSURANCE ANALYTICAL REVIEW PROCEDURES
12. Compare accounts receivable to the current year's budget and/or to prior year's actual.
C, E, A
13. Compare the current year accounts receivable as a percentage of net sales with prior year percentage.
C, E, A
14. Compare the current year's accounts receivable turnover and number of day's sales with prior year.
C, E, A
15. Compare the aging of accounts receivable totals with the prior year. C, E, A
16. Compare allowance for doubtful accounts as a percentage of accounts receivable with prior year percentage.
C, E, A
17. Compare total of credit balances in accounts receivable with prior year.
C, E, A
No. Audit Procedure Assert
C. EXTENDED PROCEDURES
Accounts Receivable Confirmations Fraud Risk
18. Where a risk of fraud exists, E
a) Verify a sample of names, addresses, fax, and phone numbers of customers selected to telephone or business directories to ensure that they are valid businesses.
b) Consider calling some customers in addition to sending a confirmation to verify account details and sales terms/conditions. Ask about any side deals or special terms.
c) Consider accepting only original (signed) copies of confirmations or following up all faxed confirmations with a phone call.
Bad Debt Write-Off
19. Have a responsible official who is not involved with any phase of the receivables function, initial the schedule of bad debts write offs during the period.
V
Material Accounts Receivable
20. For material accounts receivable which have not been collected after the period end prior to the release of the financial statements, consider obtaining a credit report or equivalent to verify the customer's credit worthiness.
V
Scanning of Journals
21. For the period audited, scan the accounts receivable journal noting large or unusual entries in amount and nature and investigate any significant transactions and coordinate with substantive testing.
C, A
Allowance for Doubtful Accounts
Ensure allowance for doubtful accounts is adequate as follows:
a) Discuss with management key assumptions used in preparing the allowance.
b) Document procedures followed by management to determine allowance for doubtful accounts and ensure allowance is reasonable. c) Select a sample of ___- cash receipts from the subsequent cash receipts listing/subsequent accounts receivable listing and vouch to supporting documents to ensure the integrity of the report.
d) Using the IDEA Audit Automation Tool, determine which receivables at year end have been subsequently paid.
e) Summarize by unpaid amounts by customer.
f) Include in the file account balances with past due balances over and days in excess of which have not been paid at the date subsequent receipts were verified, discuss account status with the credit manager and determine if an allowance should be taken on each of those account balances.
23. Agree bad debt expenses and related bad debt write-offs to supporting documentation (example: letter from trustees in bankruptcy) and ensure proper approval of write-offs.
A
24. Using the IDEA Audit Automation Tool, identify all customers with outstanding receivables in excess of credit limits. Discuss account status with credit manager.
V
Confirmations
25. Confirm trade accounts receivable: E
a) Obtain from client all necessary information in order to perform selection of accounts to be confirmed.
b) Select invoices or balances to be confirmed. (IDEA should be used if accounts receivable listing has been obtained electronically)
c) Review with a responsible official the list of invoices/customers we propose to confirm.
d) If client prefers that we do not confirm certain invoices/customers, document reasons why and discuss with manager/partner.
e) Verify the customers' address with the client.
f) Mail confirmations with postage paid return envelope and retain control over mailing process. Confirmations must be mailed and received directly by RSM Richter.
g) Send necessary second requests after a reasonable period has past since first mailing was done.
h) Perform alternative procedures for invoices/customers that client does not want us to confirm and on confirmations not returned or those that are unsatisfactory (e.g., agree subsequent payments to the account and to duplicate deposit slips; agree shipping records and sales invoices to the account; examine other supporting documentation).
i) Complete the circularization worksheet.
j) Forward copies of all confirmations indicating differences to client to clear. Obtain satisfactory explanations for these differences.
Confirmation - Other Than Period End
26. If confirmation is carried out at a date other than period end: C, E, A a) Review the accounts receivable control account from confirmation
date to period end date. Investigate and explain unusual items. Agree major entries to source documentation (i.e., sales and cash receipts journals).
b) Obtain period end accounts receivable listing and perform the following:
(i) Agree to general ledger.
(ii) Ensure mathematical accuracy.
(iii) Compare individual customers' account balances to balances at confirmation date and request positive confirmation of new, significant accounts.
c) Test mathematical accuracy of the sales ledger in the intervening period.(Consider using CAATs)
d) Review sales, credit notes, cash receipts and other entries for evidence of unusual high value entries (or their absence) and investigate unusual items.
No. Audit Procedure Assert
D. EVIDENCE OF IRREGULARITIES
27. a) Document the findings and the supporting evidence.
b) Perform additional procedures (if necessary) to either confirm or dispel the concerns identified.
c) Verify the facts with the entity personnel most directly involved. d) Obtain and document management's explanations.
e) Discuss the implications of findings with the audit team. Address questions such as:
- Management override of controls;
- The reliability of other management representations; - Possibility of fraud;
- Ability to obtain sufficient appropriate evidence to complete the audit; and
- The wording of the audit opinion.
f) Report findings and planned course of action to the audit committee or equivalent.
Sumber: RSMi Methodology “telah diolah kembali”
Dari program audit di atas, beberapa prosedur dasar yang biasanya dilakukan dalam pelaksanaan audit atas piutang usaha antara lain yaitu:
1. Daftar Piutang
Pada tahap ini, auditor mengumpulkan data terkait dengan daftar piutang. Asersi untuk prosedur ini adalah accuracy. Dari daftar piutang akan terlihat besaran piutang untuk tiap-tiap pelanggan serta umur piutang yang digolongkan ke dalam kategori lama piutang yaitu kurang dari 3 bulan, 3 - 6 bulan, 6 - 9 bulan, 9 - 12 bulan, dan lebih dari 12 bulan.
Daftar piutang yang auditor terima kemudian dicocokan dengan buku besar untuk memastikan bahwa daftar tersebut telah dibuat dengan akurat dan komplit. Walaupun dalam daftar piutang telah menyediakan aging piutang, namun auditor harus membuat aging piutang tersendiri untuk memastikan bahwa aging piutang klien telah dibuat secara akurat. Untuk memastikan integritas dari daftar, auditor akan memilih sampel invoice dari daftar piutang dan dilakukan vouching pada supporting documents.
2. Saldo Kredit
Seperti yang diketahui bersama, akun piutang memiliki saldo normal pada sisi debit, sehingga apabila terdapat piutang yang bersaldo kredit maka auditor harus mempertimbangkan untuk melakukan reklas piutang tersebut ke dalam akun utang. Asersi dari prosedur ini yakni accuracy. Dalam melakukan pertimbangan, auditor harus mengumpulkan informasi terlebih dahulu dari klien mengenai alas an adanya piutang bersaldo kredit tersebut.
Keterangan
C : Completeness A : Accuracy
3. Transaksi Pihak Berelasi
Untuk prosedur ini, auditor mengumpulkan informasi dari pihak manajemen PT XYZ terkait pihak-pihak mana saja yang merupakan pihak berelasi dari perusahaan. Auditor kemudian memeriksa transaksi-transaksi serta laporan keuangan perusahaan apakah telah menyajikan dan mengungkapkan transaksi yang berkaitan dengan pihak berelasi secara menyeluruh. Hal ini terkait dengan PSAK 7 mengenai pihak berelasi.
4. Translasi
Dalam melaksanakan prosedur terkait dengan translasi, auditor mengecek apakah piutang yang menggunakan mata uang asing telah ditranslasikan sesuai dengan nilai tukar yang tepat. Asersi dari prosedur ini adalah valuation. Piutang dengan mata uang asing harus dinilai kembali berdasarkan nilai tukar pada tanggal akhir laporan posisi keuangan. Hal ini dilakukan agar pengguna laporan keuangan dapat mengetahui nilai piutang tersebut pada tanggal akhir periode bukan pada saat terjadinya piutang.
5. Konfirmasi
Konfirmasi merupakan salah satu bukti audit yang kuat dikarenakan diperoleh dari pihak ketiga yaitu pelanggan PT XYZ. Untuk prosedur ini, auditor akan menentukan sampel dari pelanggan PT XYZ yang akan dikirimkan konfirmasi dengan tujuan memberikan keyakinan kepada auditor bahwa piutang usaha yang dicatat PT XYZ benar-benar terjadi.