HKSA 700 - Forming an Opinion on Financial Statements
PART I: INTRODUCTION AND SCOPE
Scope of HKSA 700 (Revised)
HKSA 700 (Revised) deals with the auditor's responsibility to form an opinion on the financial statements and the form and content of the auditor's report issued as a result of an audit of financial statements.
Key Related Standards:
- HKSA 701 - Communicating Key Audit Matters in the Independent Auditor's Report
- HKSA 705 (Revised) - Modifications to the Opinion in the Independent Auditor's Report
- HKSA 706 (Revised) - Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report
- HKSA 800 (Revised) - Special Considerations—Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks
- HKSA 805 (Revised) - Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement
Application Scope
This HKSA applies to an audit of a complete set of general purpose financial statements. It also applies to audits for which HKSA 800 (Revised) or HKSA 805 (Revised) apply.
Effective Date
Effective for audits of financial statements for periods ending on or after 15 December 2016.
PART II: OBJECTIVES AND DEFINITIONS
Objectives (Paragraph 6)
The objectives of the auditor are:
- To form an opinion on the financial statements based on an evaluation of the conclusions drawn from the audit evidence obtained
- To express clearly that opinion through a written report
Key Definitions (Paragraph 7)
| Term | Definition |
|---|---|
| ------ | ------------ |
| General purpose financial statements | Financial statements prepared in accordance with a general purpose framework |
| General purpose framework | A financial reporting framework designed to meet the common financial information needs of a wide range of users |
| Fair presentation framework | A financial reporting framework that requires compliance with the framework AND acknowledges explicitly or implicitly that additional disclosures or departures may be necessary to achieve fair presentation |
| Compliance framework | A financial reporting framework that requires compliance with the framework but does NOT contain acknowledgements about additional disclosures or departures |
| Unmodified opinion | The opinion expressed when the auditor concludes that the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework |
Important Note: Reference to "financial statements" in this HKSA means "a complete set of general purpose financial statements." The requirements of the applicable financial reporting framework determine the presentation, structure and content of the financial statements.
PART III: FORMING AN OPINION ON THE FINANCIAL STATEMENTS
Core Requirement (Paragraph 10-11)
The auditor shall form an opinion on whether the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework.
To form this opinion, the auditor shall conclude as to whether the auditor has obtained reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error.
This conclusion shall take into account:
- The auditor's conclusion under HKSA 330 regarding sufficient appropriate audit evidence
- The auditor's conclusion under HKSA 450 regarding whether uncorrected misstatements are material
- The evaluations required by paragraphs 12-15
Evaluation of Financial Statements (Paragraph 12-13)
The auditor shall evaluate whether the financial statements are prepared, in all material respects, in accordance with the requirements of the applicable financial reporting framework. This evaluation includes:
Qualitative Aspects of Accounting Practices (Para. 12)
- Consideration of qualitative aspects of the entity's accounting practices
- Indicators of possible bias in management's judgments
Specific Evaluations Required (Para. 13)
| Evaluation Area | Key Considerations |
|---|---|
| ---------------- | ------------------- |
| (a) Disclosure of accounting policies | Relevance of policies to the entity; whether presented in an understandable manner |
| (b) Consistency of accounting policies | Whether selected policies are consistent with the applicable framework and appropriate |
| (c) Accounting estimates | Whether estimates and related disclosures made by management are reasonable |
| (d) Information presentation | Whether information is relevant, reliable, comparable, and understandable; whether information that should have been included has been included; whether presentation is undermined by irrelevant information |
| (e) Adequacy of disclosures | Whether disclosures enable intended users to understand the effect of material transactions and events |
| (f) Terminology | Whether terminology used, including titles of financial statements, is appropriate |
Fair Presentation Evaluation (Paragraph 14)
When financial statements are prepared in accordance with a fair presentation framework, the evaluation shall also include whether the financial statements achieve fair presentation. This includes consideration of:
- Overall presentation, structure and content of the financial statements
- Whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation
Description of Applicable Financial Reporting Framework (Paragraph 15)
The auditor shall evaluate whether the financial statements adequately refer to or describe the applicable financial reporting framework.
Key Point: A description that contains imprecise qualifying or limiting language (e.g., "the financial statements are in substantial compliance with HKFRSs") is NOT an adequate description.
PART IV: FORM OF OPINION
Unmodified Opinion (Paragraph 16)
The auditor shall express an unmodified opinion when the auditor concludes that the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework.
Modified Opinion Triggers (Paragraph 17)
The auditor shall modify the opinion in accordance with HKSA 705 (Revised) if:
- The auditor concludes that the financial statements as a whole are not free from material misstatement
- The auditor is unable to obtain sufficient appropriate audit evidence to conclude that the financial statements as a whole are free from material misstatement
Fair Presentation Framework - Special Considerations (Paragraph 18)
If financial statements prepared in accordance with a fair presentation framework do not achieve fair presentation, the auditor shall:
- Discuss the matter with management
- Depending on requirements of the applicable framework and how the matter is resolved, determine whether it is necessary to modify the opinion
Compliance Framework - Special Considerations (Paragraph 19)
When financial statements are prepared in accordance with a compliance framework:
- The auditor is not required to evaluate whether the financial statements achieve fair presentation
- However, if in extremely rare circumstances the auditor concludes such financial statements are misleading, the auditor shall discuss the matter with management and determine whether and how to communicate it in the auditor's report
PART V: AUDITOR'S REPORT - STRUCTURE AND CONTENT
General Requirements (Paragraph 20)
The auditor's report shall be in writing (includes hard copy and electronic medium).
Title (Paragraph 21)
The auditor's report shall have a title that clearly indicates it is the report of an independent auditor (e.g., "Independent Auditor's Report").
Addressee (Paragraph 22)
The auditor's report shall be addressed as appropriate based on the circumstances of the engagement. Normally addressed to shareholders or those charged with governance.
Opinion Section (Paragraphs 23-27)
Required heading: "Opinion"
Content requirements:
- Identify the entity whose financial statements have been audited
- State that the financial statements have been audited
- Identify the title of each statement comprising the financial statements
- Refer to the notes, including the summary of significant accounting policies
- Specify the date of, or period covered by, each financial statement
Wording for Fair Presentation Framework (Para. 25):
- "In our opinion, the accompanying financial statements present fairly, in all material respects, [...] in accordance with [the applicable financial reporting framework]" OR
- "In our opinion, the accompanying financial statements give a true and fair view of [...] in accordance with [the applicable financial reporting framework]"
Note: In Hong Kong, the Companies Ordinance (Cap. 622), the Main Board Listing Rules and GEM Listing Rules adopt the phrase "true and fair view."
Wording for Compliance Framework (Para. 26):
- "In our opinion, the accompanying financial statements are prepared, in all material respects, in accordance with [the applicable financial reporting framework]"
Jurisdiction of Origin (Para. 27):
If the reference to the applicable financial reporting framework is not to HKFRSs, the auditor's opinion shall identify the jurisdiction of origin of the framework.
Basis for Opinion Section (Paragraph 28)
Required heading: "Basis for Opinion"
Required content:
- State that the audit was conducted in accordance with HKSAs
- Refer to the section describing the auditor's responsibilities under HKSAs
- Include a statement that the auditor is independent in accordance with relevant ethical requirements and has fulfilled other ethical responsibilities
- State whether the auditor believes the audit evidence obtained is sufficient and appropriate
Going Concern (Paragraph 29)
Where applicable, the auditor shall report in accordance with HKSA 570 (Revised).
Key Audit Matters (Paragraphs 30-31)
For listed entities: The auditor shall communicate key audit matters in accordance with HKSA 701.
For other entities: When required by law/regulation or when the auditor decides to communicate key audit matters, the auditor shall do so in accordance with HKSA 701.
Other Information (Paragraph 32)
Where applicable, the auditor shall report in accordance with HKSA 720 (Revised).
Responsibilities for the Financial Statements Section (Paragraphs 33-36)
Required heading: "Responsibilities of Management for the Financial Statements"
Content requirements:
- Describe management's responsibility for:
- Preparing the financial statements in accordance with the applicable financial reporting framework
- Such internal control as management determines is necessary
- Assessing the entity's ability to continue as a going concern
- Identify those responsible for oversight of the financial reporting process (when different from management)
For fair presentation framework (Para. 36):
The description shall refer to "the preparation and fair presentation of these financial statements" or "the preparation of financial statements that give a true and fair view."
Auditor's Responsibilities for the Audit Section (Paragraphs 37-40)
Required heading: "Auditor's Responsibilities for the Audit of the Financial Statements"
Required content:
| Requirement | Description |
|---|---|
| ------------- | ------------- |
| (a) Objectives | State objectives: obtain reasonable assurance and issue an auditor's report |
| (b) Reasonable assurance | State that reasonable assurance is a high level but not a guarantee |
| (c) Materiality | Describe materiality or provide definition |
| (d) Professional judgment/skepticism | State that auditor exercises professional judgment and maintains professional skepticism |
| (e) Risk assessment | Describe identification and assessment of risks of material misstatement |
| (f) Internal control | Describe understanding of internal control relevant to the audit |
| (g) Accounting policies/estimates | Describe evaluation of appropriateness of accounting policies and reasonableness of estimates |
| (h) Going concern | Describe conclusion on appropriateness of going concern basis |
| (i) Fair presentation evaluation | For fair presentation frameworks, describe evaluation of overall presentation |
| (j) Group audit (HKSA 600) | When applicable, describe responsibilities in group audit |
| (k) Communication with governance | Describe communication regarding planned scope, timing, significant findings |
| (l) Independence | For listed entities, state compliance with ethical requirements regarding independence |
| (m) Key audit matters determination | For listed entities, describe determination of key audit matters |
Location of Auditor's Responsibilities Description (Paragraphs 41-42)
The description may be included:
- Within the body of the auditor's report
- Within an appendix to the auditor's report (with reference in the report)
- By reference to a website of an appropriate authority (only if expressly permitted by law, regulation or HKSAs)
Other Reporting Responsibilities (Paragraphs 43-45)
If the auditor addresses other reporting responsibilities in addition to those under HKSAs:
- These shall be addressed in a separate section with a heading "Report on Other Legal and Regulatory Requirements"
- If they address the same topics as HKSAs requirements, they may be presented in the same section but must be clearly differentiated
- The "Report on Other Legal and Regulatory Requirements" shall follow the "Report on the Audit of the Financial Statements"
Name of the Engagement Partner (Paragraph 46)
For listed entities: The name of the engagement partner shall be included unless, in rare circumstances, such disclosure is reasonably expected to lead to a significant personal security threat.
Signature of the Auditor (Paragraph 47)
The auditor's report shall be signed.
Auditor's Address (Paragraph 48)
The auditor's report shall name the location in the jurisdiction where the auditor practices.
Date of the Auditor's Report (Paragraph 49)
The auditor's report shall be dated no earlier than the date on which the auditor has obtained sufficient appropriate audit evidence, including evidence that:
- All statements and disclosures that comprise the financial statements have been prepared
- Those with recognized authority have asserted that they have taken responsibility for those financial statements
PART VI: AUDITOR'S REPORT PRESCRIBED BY LAW OR REGULATION
Minimum Elements (Paragraph 50)
If the auditor is required by law or regulation to use a specific layout or wording, the auditor's report shall refer to HKSAs only if it includes, at a minimum, each of the following elements:
| Element | Description |
|---|---|
| --------- | ------------- |
| (a) | A title |
| (b) | An addressee |
| (c) | An Opinion section with expression of opinion and reference to applicable financial reporting framework |
| (d) | Identification of the entity's financial statements audited |
| (e) | Statement of independence and fulfillment of ethical responsibilities |
| (f) | Where applicable, section addressing going concern reporting requirements |
| (g) | Where applicable, Basis for Qualified (or Adverse) Opinion section |
| (h) | Where applicable, section with HKSA 701 information |
| (i) | Where applicable, section addressing HKSA 720 (Revised) requirements |
| (j) | Description of management's responsibilities |
| (k) | Reference to HKSAs and description of auditor's responsibilities |
| (l) | For listed entities, name of engagement partner |
| (m) | Auditor's signature |
| (n) | Auditor's address |
| (o) | Date of auditor's report |
PART VII: DUAL STANDARDS REFERENCE
Audits Conducted in Accordance with Both Other Standards and HKSAs (Paragraphs 51-52)
An auditor may refer to HKSAs in addition to other auditing standards only if:
- No conflict exists between the requirements in the other auditing standards and HKSAs that would lead the auditor to:
- Form a different opinion, OR
- Not include an Emphasis of Matter paragraph or Other Matter paragraph required by HKSAs
- The auditor's report includes, at a minimum, each of the elements set out in paragraphs 50(a)-(o)
When referring to both standards, the auditor's report shall identify the jurisdiction of origin of the other auditing standards.
PART VIII: SUPPLEMENTARY INFORMATION
Evaluation of Supplementary Information (Paragraphs 53-54)
When supplementary information is an integral part of financial statements:
- The auditor shall evaluate whether, in the auditor's professional judgment, supplementary information is an integral part of the financial statements due to its nature or how it is presented
- If integral, the supplementary information shall be covered by the auditor's opinion
When supplementary information is NOT an integral part:
- The auditor shall evaluate whether such information is presented in a way that sufficiently and clearly differentiates it from the audited financial statements
- If not clearly differentiated, the auditor shall ask management to change the presentation
- If management refuses, the auditor shall identify the unaudited supplementary information and explain in the auditor's report that it has not been audited
PART IX: APPLICATION AND OTHER EXPLANATORY MATERIAL
Qualitative Aspects of Accounting Practices (A1-A3)
Management makes numerous judgments about amounts and disclosures. The auditor may become aware of possible bias in management's judgments.
Indicators of lack of neutrality:
- Selective correction of misstatements (e.g., correcting those that increase earnings but not those that decrease earnings)
- Possible management bias in making accounting estimates
Accounting Policies Disclosure (A4)
The auditor's consideration includes:
- Whether all required disclosures about significant accounting policies have been included
- Whether the information disclosed is relevant and reflects how recognition, measurement and presentation criteria have been applied
- The clarity with which policies have been presented
Information Presentation (A5)
Evaluating understandability includes consideration of:
- Whether information is presented in a clear and concise manner
- Whether significant disclosures are given appropriate prominence
- Whether disclosures are appropriately cross-referenced
Disclosures of Material Transactions and Events (A6)
Evaluation includes consideration of:
- The extent to which information is relevant and specific to the entity's circumstances
- Whether disclosures are adequate to help users understand:
- Nature and extent of potential assets and liabilities from transactions not meeting recognition criteria
- Nature and extent of risks of material misstatement
- Methods, assumptions, judgments and changes affecting amounts presented
Fair Presentation Evaluation (A7-A9)
The auditor's evaluation is a matter of professional judgment, taking into account:
- Facts and circumstances of the entity
- Changes thereto based on the auditor's understanding
- Audit evidence obtained during the audit
- Disclosures needed to achieve fair presentation arising from matters that could be material
Description of Applicable Financial Reporting Framework (A10-A15)
Key points:
- A description that the financial statements are prepared in accordance with a particular framework is appropriate only if the financial statements comply with all requirements of that framework
- Imprecise qualifying language (e.g., "substantial compliance") is NOT adequate
- Reference to two frameworks is appropriate only if the financial statements comply with each framework individually
- A note reconciling results to another framework does NOT constitute preparation in accordance with that other framework
Form of Opinion (A16-A17)
Fair presentation framework: If financial statements do not achieve fair presentation, management may include additional disclosures or, in extremely rare circumstances, depart from a requirement.
Compliance framework: It will be extremely rare for the auditor to consider financial statements prepared in accordance with a compliance framework to be misleading if the auditor determined the framework is acceptable under HKSA 210.
Auditor's Report Elements (A18-A77)
Title (A20): A title like "Independent Auditor's Report" distinguishes the independent auditor's report from reports issued by others.
Addressee (A21): Normally addressed to shareholders or those charged with governance.
Opinion (A22-A31):
- The phrases "present fairly, in all material respects" and "give a true and fair view" are regarded as equivalent
- It is NOT appropriate to use phrases like "with the foregoing explanation" or "subject to" when expressing an unmodified opinion
Basis for Opinion (A32-A39):
- Provides important context about the auditor's opinion
- Must directly follow the Opinion section
- The reference to standards conveys that the audit has been conducted in accordance with established standards
Relevant Ethical Requirements (A34-A39):
- Identification of jurisdiction of origin increases transparency
- For group audits, the reference ordinarily relates to ethical requirements applicable to the group engagement team
Key Audit Matters (A40-A42):
- Law or regulation may require KAM communication for entities other than listed entities (e.g., public interest entities)
- The auditor may also decide to communicate KAM for other entities of significant public interest
Responsibilities for Financial Statements (A44-A49):
- The description helps explain to users the premise on which an audit is conducted
- May be tailored to reflect additional responsibilities relevant to the particular jurisdiction or entity
Auditor's Responsibilities (A50-A57):
- May be tailored to reflect the specific nature of the entity (e.g., consolidated financial statements)
- May be included in an appendix or by reference to a website of an appropriate authority
Other Reporting Responsibilities (A58-A60):
- Combined presentation is permitted only when addressing the same topics
- Must clearly differentiate other reporting responsibilities from those under HKSAs
Name of Engagement Partner (A61-A63):
- Intended to provide further transparency for users
- In rare circumstances, may be omitted due to significant personal security threat
Signature (A64-A65):
- Either in the name of the audit firm, the personal name of the auditor, or both
- Electronic signatures may be allowed in some cases
Date (A66-A69):
- Informs users that the auditor has considered events up to that date
- Cannot be earlier than the date when all statements and disclosures have been prepared and management has accepted responsibility
Supplementary Information (A78-A84)
Examples:
- Notes explaining compliance with another framework may be considered supplementary information that cannot be clearly differentiated
- Additional profit and loss accounts as separate schedules may be considered supplementary information that can be clearly differentiated
Management options for unaudited supplementary information:
- Remove cross-references from financial statements to unaudited schedules
- Place unaudited information outside the financial statements
- Place unaudited notes together at the end of required notes and clearly label as "unaudited"
PART X: KEY TAKEAWAYS SUMMARY
| Topic | Key Point |
|---|---|
| ------- | ----------- |
| Objective | Form opinion based on audit evidence and express through written report |
| Unmodified opinion | Financial statements prepared in all material respects in accordance with applicable framework |
| Fair presentation framework | Requires evaluation of whether financial statements achieve fair presentation |
| Compliance framework | No requirement to evaluate fair presentation; extremely rare to consider misleading |
| Opinion wording - Fair presentation | "Present fairly, in all material respects" OR "give a true and fair view" |
| Opinion wording - Compliance | "Prepared, in all material respects, in accordance with" |
| Report sections | Opinion, Basis for Opinion, Key Audit Matters (for listed entities), Responsibilities, Auditor's Responsibilities |
| Engagement partner name | Required for listed entities unless rare personal security threat |
| Report date | No earlier than date sufficient appropriate audit evidence obtained |
| Supplementary information | If integral to financial statements, covered by opinion; if not, must be clearly differentiated |
| Dual standards | Can refer to both HKSAs and other standards only if no conflict and minimum elements included |
| Law/regulation prescribed reports | Must include minimum 15 elements to refer to HKSAs |
APPENDIX: 50 MULTIPLE CHOICE QUESTIONS
Q1. According to HKSA 700 (Revised), what is the effective date for audits of financial statements?
A. Periods ending on or after 15 December 2014
B. Periods ending on or after 15 December 2016
C. Periods beginning on or after 15 December 2016
D. Periods ending on or after 15 December 2018
Answer: B
Q2. Which of the following is NOT an objective of the auditor under HKSA 700 (Revised)?
A. To form an opinion on the financial statements based on evaluation of conclusions drawn from audit evidence
B. To express clearly that opinion through a written report
C. To detect all fraud and error in the financial statements
D. To form an opinion on whether the financial statements are prepared in accordance with the applicable financial reporting framework
Answer: C
Q3. What is a "general purpose framework" as defined in HKSA 700 (Revised)?
A. A framework designed for tax reporting purposes only
B. A framework designed to meet the common financial information needs of a wide range of users
C. A framework designed for internal management reporting
D. A framework designed for regulatory compliance only
Answer: B
Q4. Which of the following best describes a "fair presentation framework"?
A. A framework that requires compliance but does not acknowledge the need for additional disclosures
B. A framework that requires compliance and acknowledges that additional disclosures or departures may be necessary for fair presentation
C. A framework that allows complete flexibility in presentation
D. A framework that only applies to listed entities
Answer: B
Q5. When should the auditor express an unmodified opinion?
A. When the auditor concludes the financial statements are prepared in all material respects in accordance with the applicable financial reporting framework
B. When the auditor has completed all audit procedures
C. When management agrees with all audit adjustments
D. When there are no identified misstatements
Answer: A
Q6. According to HKSA 700 (Revised), what must the auditor's conclusion take into account when forming an opinion?
A. Only the audit evidence obtained
B. The auditor's conclusion under HKSA 330, HKSA 450, and evaluations required by paragraphs 12-15
C. Only management's representations
D. Only the financial statements as presented
Answer: B
Q7. Which of the following is NOT a specific evaluation required by paragraph 13 of HKSA 700 (Revised)?
A. Whether accounting policies are appropriately disclosed
B. Whether accounting estimates are reasonable
C. Whether the entity has adequate internal controls
D. Whether information presented is relevant, reliable, comparable and understandable
Answer: C
Q8. When evaluating whether financial statements achieve fair presentation, the auditor shall consider:
A. Only the overall presentation and structure
B. Only whether the financial statements represent underlying transactions
C. Both the overall presentation, structure and content AND whether the financial statements represent underlying transactions and events in a manner that achieves fair presentation
D. Only the notes to the financial statements
Answer: C
Q9. What is the required heading for the first section of the auditor's report?
A. "Auditor's Report"
B. "Independent Auditor's Report"
C. "Opinion"
D. "Basis for Opinion"
Answer: C
Q10. Which phrase is used in Hong Kong for expressing an unmodified opinion under a fair presentation framework?
A. "Present fairly, in all material respects"
B. "Give a true and fair view"
C. "Are accurate in all respects"
D. "Are correctly stated"
Answer: B
Q11. According to HKSA 700 (Revised), what must the Basis for Opinion section include?
A. A detailed description of all audit procedures performed
B. A statement that the audit was conducted in accordance with HKSAs
C. A summary of all identified misstatements
D. Management's responses to audit findings
Answer: B
Q12. For which entities must key audit matters be communicated in the auditor's report?
A. All entities
B. Listed entities only
C. Entities with revenue over HK$100 million
D. Entities with more than 100 employees
Answer: B
Q13. What is the required heading for the section describing management's responsibilities?
A. "Management's Report"
B. "Responsibilities of Management for the Financial Statements"
C. "Directors' Report"
D. "Management Discussion and Analysis"
Answer: B
Q14. When may the auditor refer to a website for the description of auditor's responsibilities?
A. Always, at the auditor's discretion
B. Only when expressly permitted by law, regulation or HKSAs
C. Only for listed entities
D. Only when the client agrees
Answer: B
Q15. What is the minimum requirement for the date of the auditor's report?
A. The date the audit fieldwork is completed
B. No earlier than the date on which sufficient appropriate audit evidence has been obtained
C. The last day of the financial period
D. The date the financial statements are issued to shareholders
Answer: B
Q16. When must the name of the engagement partner be included in the auditor's report?
A. For all audits
B. For audits of listed entities only
C. For audits of financial institutions only
D. At the auditor's discretion
Answer: B
Q17. In what rare circumstance may the engagement partner's name be omitted from the auditor's report?
A. When the engagement partner requests it
B. When disclosure is reasonably expected to lead to a significant personal security threat
C. When the client objects to disclosure
D. When the audit firm has a policy against disclosure
Answer: B
Q18. According to HKSA 700 (Revised), what is the appropriate heading for other reporting responsibilities?
A. "Other Matters"
B. "Report on Other Legal and Regulatory Requirements"
C. "Supplementary Information"
D. "Additional Reporting"
Answer: B
Q19. When supplementary information is an integral part of the financial statements, what is the auditor's responsibility?
A. The supplementary information shall be covered by the auditor's opinion
B. The supplementary information must be audited separately
C. The supplementary information must be excluded from the financial statements
D. The auditor must issue a separate report on the supplementary information
Answer: A
Q20. What should the auditor do if unaudited supplementary information is not clearly differentiated from the audited financial statements?
A. Include it in the audit opinion
B. Ask management to change the presentation; if refused, identify it as unaudited in the auditor's report
C. Ignore the supplementary information
D. Issue a qualified opinion
Answer: B
Q21. Which of the following is NOT a minimum element required when referring to HKSAs in a law-prescribed auditor's report?
A. A title
B. An addressee
C. A summary of audit procedures
D. The auditor's signature
Answer: C
Q22. When may an auditor refer to both HKSAs and other auditing standards in the auditor's report?
A. Always, if the audit was conducted in accordance with both
B. Only if there is no conflict between the standards that would lead to a different opinion or omission of required paragraphs
C. Only for listed entities
D. Only when required by law
Answer: B
Q23. What is the auditor's responsibility regarding a description of the applicable financial reporting framework?
A. The auditor must prepare the description
B. The auditor shall evaluate whether the financial statements adequately refer to or describe the framework
C. The auditor must ensure the framework is described in the audit engagement letter
D. The auditor has no responsibility regarding the description
Answer: B
Q24. Which of the following descriptions of the applicable financial reporting framework is considered inadequate?
A. "In accordance with Hong Kong Financial Reporting Standards"
B. "In accordance with accounting principles generally accepted in Jurisdiction X"
C. "In substantial compliance with Hong Kong Financial Reporting Standards"
D. "In accordance with HKFRSs and the requirements of the Companies Ordinance"
Answer: C
Q25. When financial statements are prepared in accordance with two financial reporting frameworks, when is it appropriate to describe them as such?
A. When the financial statements comply with each framework individually
B. When the financial statements comply with at least one framework
C. When management states they comply with both frameworks
D. When the auditor agrees to the dual reference
Answer: A
Q26. What is the auditor's responsibility when financial statements prepared under a fair presentation framework do not achieve fair presentation?
A. Immediately issue a qualified opinion
B. Discuss the matter with management and determine whether modification is necessary
C. Issue an adverse opinion
D. Withdraw from the engagement
Answer: B
Q27. According to HKSA 700 (Revised), how should the auditor evaluate whether the financial statements achieve fair presentation?
A. By applying a standard checklist
B. Through professional judgment considering facts and circumstances
C. By comparing to industry averages
D. By obtaining management representations only
Answer: B
Q28. What does the term "unmodified opinion" mean in HKSA 700 (Revised)?
A. The opinion is expressed without any changes to the standard wording
B. The financial statements are prepared in all material respects in accordance with the applicable financial reporting framework
C. The auditor found no misstatements
D. The audit was completed without any issues
Answer: B
Q29. Which of the following is an indicator of possible management bias?
A. Consistent application of accounting policies
B. Selective correction of misstatements that increase earnings but not those that decrease earnings
C. Full disclosure of all accounting policies
D. Use of external valuation experts
Answer: B
Q30. What should the auditor's report include regarding the auditor's independence?
A. A statement that the auditor is independent in accordance with relevant ethical requirements
B. A detailed description of all relationships with the entity
C. A confirmation from management
D. A statement that independence is not required for the audit
Answer: A
Q31. When may the description of auditor's responsibilities be included in an appendix?
A. Never
B. Always, at the auditor's discretion
C. When appropriate reference is made within the body of the auditor's report
D. Only for listed entities
Answer: C
Q32. What is the purpose of the Basis for Opinion section?
A. To provide detailed audit procedures
B. To provide important context about the auditor's opinion
C. To list all audit adjustments
D. To describe the entity's business
Answer: B
Q33. According to HKSA 700 (Revised), what should the auditor evaluate regarding accounting estimates?
A. Whether they are prepared by management
B. Whether they and related disclosures made by management are reasonable
C. Whether they are approved by the board
D. Whether they are consistent with prior years
Answer: B
Q34. What is the auditor's responsibility regarding the going concern basis of accounting?
A. To prepare the going concern assessment
B. To conclude on the appropriateness of management's use of the going concern basis
C. To guarantee the entity will continue as a going concern
D. To disclose all going concern risks
Answer: B
Q35. When the auditor concludes that a material uncertainty related to going concern exists, what is required?
A. The auditor must issue a qualified opinion
B. The auditor must draw attention in the auditor's report to the related disclosures in the financial statements
C. The auditor must withdraw from the engagement
D. The auditor must report to the regulatory authorities
Answer: B
Q36. What is the appropriate heading for the section describing the auditor's responsibilities for the audit?
A. "Auditor's Report"
B. "Auditor's Responsibilities for the Audit of the Financial Statements"
C. "Scope of Audit"
D. "Audit Procedures"
Answer: B
Q37. According to HKSA 700 (Revised), what should the auditor state regarding reasonable assurance?
A. That it is absolute assurance
B. That it is a high level of assurance but not a guarantee
C. That it is the same as a guarantee
D. That it is a low level of assurance
Answer: B
Q38. What should the auditor's report include regarding materiality?
A. A specific materiality threshold
B. A description that misstatements are considered material if they could reasonably be expected to influence economic decisions of users
C. The materiality calculation
D. No reference to materiality is required
Answer: B
Q39. For group audits, what additional responsibilities should be described in the auditor's report?
A. Only the group engagement partner's responsibilities
B. Responsibilities to obtain sufficient appropriate audit evidence regarding components, direction and supervision, and sole responsibility for the opinion
C. Only component auditors' responsibilities
D. No additional description is required
Answer: B
Q40. What should the auditor communicate to those charged with governance according to the auditor's report?
A. Only the audit opinion
B. Planned scope and timing of the audit and significant audit findings
C. Only material misstatements
D. Only the audit fee
Answer: B
Q41. When may the auditor omit the phrase that consideration of internal control is not for expressing an opinion on its effectiveness?
A. Never
B. When the auditor also has a responsibility to express an opinion on the effectiveness of internal control
C. When the entity is not listed
D. When management requests it
Answer: B
Q42. What is the auditor's responsibility regarding the appropriateness of accounting policies?
A. To select the accounting policies
B. To evaluate the appropriateness of accounting policies used
C. To prepare the accounting policies
D. To approve the accounting policies
Answer: B
Q43. According to HKSA 700 (Revised), what should the auditor evaluate regarding the terminology used in financial statements?
A. Whether it is consistent with industry practice
B. Whether it is appropriate, including the title of each financial statement
C. Whether it is approved by management
D. Whether it is understandable to all users
Answer: B
Q44. What is the auditor's responsibility when financial statements are prepared in accordance with a compliance framework and the auditor concludes they are misleading?
A. The auditor must issue an adverse opinion
B. The auditor shall discuss the matter with management and determine whether and how to communicate it in the auditor's report
C. The auditor must withdraw from the engagement
D. The auditor must report to the regulatory authorities
Answer: B
Q45. What should the auditor's report include regarding the identification of the financial statements?
A. Only the name of the entity
B. The title of each statement, reference to notes, and the date or period covered
C. Only the date of the financial statements
D. Only the entity's registration number
Answer: B
Q46. According to HKSA 700 (Revised), what is the relationship between HKSA 700 and ISA 700 (Revised)?
A. HKSA 700 is completely different from ISA 700
B. HKSA 700 conforms with ISA 700 (Revised) except for references to ethical codes
C. HKSA 700 is based on ISA 700 but with significant differences
D. HKSA 700 replaces ISA 700
Answer: B
Q47. What should the auditor do if supplementary information is not required by the applicable financial reporting framework but is presented with the audited financial statements?
A. Always include it in the audit opinion
B. Evaluate whether it is an integral part of the financial statements
C. Always exclude it from the audit opinion
D. Issue a separate report on it
Answer: B
Q48. What is the auditor's responsibility regarding other information presented with the financial statements?
A. No responsibility
B. Report in accordance with HKSA 720 (Revised) where applicable
C. Audit all other information
D. Prepare the other information
Answer: B
Q49. According to HKSA 700 (Revised), what should the auditor evaluate regarding the disclosure of significant accounting policies?
A. Whether they are approved by the board
B. Whether they are relevant to the entity and presented in an understandable manner
C. Whether they are consistent with industry practice
D. Whether they are the same as prior years
Answer: B
Q50. What is the minimum number of elements required for an auditor's report to refer to HKSAs when prescribed by law or regulation?
A. 10 elements
B. 15 elements (a) through (o)
C. 12 elements
D. 8 elements
Answer: B
HKSA 700（修訂）- 形成意見及就財務報表作出報告
全面研習筆記
第一部分：引言及範圍
HKSA 700（修訂）的範圍
HKSA 700（修訂）處理核數師對財務報表形成意見的責任，以及因審計財務報表而發出的核數師報告的形式和內容。
相關主要準則：
- HKSA 701 - 在獨立核數師報告中溝通關鍵審計事項
- HKSA 705（修訂） - 對獨立核數師報告中的意見作出的修改
- HKSA 706（修訂） - 在獨立核數師報告中的強調事項段及其他事項段
- HKSA 800（修訂） - 特殊考慮—按照特殊目的框架編製的財務報表的審計
- HKSA 805（修訂） - 特殊考慮—對單一財務報表及財務報表的特定要素、賬戶或項目的審計
應用範圍
本HKSA適用於對整套一般目的財務報表的審計。它亦適用於HKSA 800（修訂）或HKSA 805（修訂）適用的審計。
生效日期
對於結算日為2016年12月15日或之後的期間的財務報表審計生效。
第二部分：目標及定義
目標（第6段）
核數師的目標是：
- 形成意見：基於對從審計證據得出的結論的評估，對財務報表形成意見
- 清晰表達意見：通過書面報告清晰表達該意見
主要定義（第7段）
| 術語 | 定義 |
|---|---|
| ------ | ------ |
| 一般目的財務報表 | 按照一般目的框架編製的財務報表 |
| 一般目的框架 | 旨在滿足廣泛使用者共同財務信息需求的財務報告框架 |
| 公允列報框架 | 要求遵守框架規定，並明確或隱含地承認可能需要額外披露或偏離規定以實現公允列報的財務報告框架 |
| 合規框架 | 要求遵守框架規定，但不包含關於額外披露或偏離的承認的財務報告框架 |
| 無保留意見 | 當核數師得出結論認為財務報表在所有重大方面按照適用的財務報告框架編製時表達的意見 |
重要提示： 本HKSA中提及的「財務報表」指「整套一般目的財務報表」。適用的財務報告框架的要求決定財務報表的呈列、結構和內容。
第三部分：對財務報表形成意見
核心要求（第10-11段）
核數師應就財務報表是否在所有重大方面按照適用的財務報告框架編製形成意見。
為形成此意見，核數師應就是否已獲得合理保證，確保財務報表整體不存在由於舞弊或錯誤而導致的重大錯誤陳述作出結論。
此結論應考慮：
- 核數師根據HKSA 330關於是否已獲得充分適當審計證據的結論
- 核數師根據HKSA 450關於未更正錯誤陳述是否重大的結論
- 第12-15段要求的評估
財務報表的評估（第12-13段）
核數師應評估財務報表是否在所有重大方面按照適用的財務報告框架的要求編製。此評估包括：
會計實務的質量方面（第12段）
- 考慮實體會計實務的質量方面
- 管理層判斷中可能存在偏見的跡象
要求的具體評估（第13段）
| 評估領域 | 主要考慮因素 |
|---|---|
| --------- | ------------- |
| (a) 會計政策的披露 | 政策對實體的相關性；是否以可理解的方式呈列 |
| (b) 會計政策的一致性 | 所選政策是否與適用框架一致且適當 |
| (c) 會計估計 | 管理層作出的估計及相關披露是否合理 |
| (d) 信息呈列 | 信息是否相關、可靠、可比較及可理解；應包含的信息是否已包含；呈列是否被不相關信息削弱 |
| (e) 披露的充分性 | 披露是否使預期使用者能夠理解重大交易及事項的影響 |
| (f) 術語 | 所使用的術語（包括各財務報表的標題）是否適當 |
公允列報評估（第14段）
當財務報表按照公允列報框架編製時，評估還應包括財務報表是否實現公允列報。這包括考慮：
- 財務報表的整體呈列、結構和內容
- 財務報表是否以實現公允列報的方式反映基礎交易及事項
適用的財務報告框架的描述（第15段）
核數師應評估財務報表是否充分提及或描述適用的財務報告框架。
關鍵點： 包含不精確的限定或限制性語言（例如「財務報表大致符合香港財務報告準則」）的描述不是充分的描述。
第四部分：意見的形式
無保留意見（第16段）
當核數師得出結論認為財務報表在所有重大方面按照適用的財務報告框架編製時，核數師應表達無保留意見。
修改意見的觸發因素（第17段）
如果出現以下情況，核數師應根據HKSA 705（修訂）修改意見：
- 核數師得出結論認為財務報表整體存在重大錯誤陳述
- 核數師無法獲得充分適當的審計證據以得出結論認為財務報表整體不存在重大錯誤陳述
公允列報框架 - 特殊考慮（第18段）
如果按照公允列報框架編製的財務報表未能實現公允列報，核數師應：
- 與管理層討論此事
- 根據適用框架的要求及事項的解決方式，決定是否需要修改意見
合規框架 - 特殊考慮（第19段）
當財務報表按照合規框架編製時：
- 核數師無需評估財務報表是否實現公允列報
- 然而，如果在極罕見的情況下核數師得出結論認為此類財務報表具有誤導性，核數師應與管理層討論此事，並決定是否及如何在核數師報告中溝通
第五部分：核數師報告 - 結構和內容
一般要求（第20段）
核數師報告應為書面形式（包括硬拷貝和電子媒介）。
標題（第21段）
核數師報告應有一個清晰表明是獨立核數師報告的標題（例如「獨立核數師報告」）。
收件人（第22段）
核數師報告應根據委聘的情況適當致送。通常致送給股東或治理層。
意見部分（第23-27段）
所需標題：「意見」
內容要求：
- 識別已審計財務報表的實體
- 說明財務報表已接受審計
- 識別構成財務報表的各報表的標題
- 提及附註（包括主要會計政策概要）
- 指明各財務報表的日期或涵蓋期間
公允列報框架的措辭（第25段）：
- 「我們認為，隨附的財務報表在所有重大方面公允列報 [...] 按照[適用的財務報告框架]」或
- 「我們認為，隨附的財務報表真實而公平地反映 [...] 按照[適用的財務報告框架]」
注意： 在香港，《公司條例》（第622章）、主板上市規則及GEM上市規則採用「真實而公平地反映」的措辭。
合規框架的措辭（第26段）：
- 「我們認為，隨附的財務報表在所有重大方面按照[適用的財務報告框架]編製」
來源司法管轄區（第27段）：
如果提及的適用的財務報告框架不是香港財務報告準則，核數師意見應識別該框架的來源司法管轄區。
意見基礎部分（第28段）
所需標題：「意見基礎」
所需內容：
- 說明審計是按照香港審計準則進行的
- 提及描述核數師根據香港審計準則的責任的部分
- 包括一項聲明，說明核數師按照相關道德要求獨立，並已履行其他道德責任
- 說明核數師是否相信所獲得的審計證據充分適當
持續經營（第29段）
在適用的情況下，核數師應按照HKSA 570（修訂）作出報告。
關鍵審計事項（第30-31段）
對於上市實體： 核數師應按照HKSA 701溝通關鍵審計事項。
對於其他實體： 當法律或法規要求或核數師決定溝通關鍵審計事項時，核數師應按照HKSA 701進行。
其他信息（第32段）
在適用的情況下，核數師應按照HKSA 720（修訂）作出報告。
財務報表的責任部分（第33-36段）
所需標題：「管理層對財務報表的責任」
內容要求：
- 描述管理層的責任：
- 按照適用的財務報告框架編製財務報表
- 管理層認為必要的內部控制
- 評估實體持續經營的能力
- 識別負責監督財務報告過程的人員（當與管理層不同時）
對於公允列報框架（第36段）：
描述應提及「編製及公允列報該等財務報表」或「編製真實而公平地反映的財務報表」。
核數師對審計財務報表的責任部分（第37-40段）
所需標題：「核數師對審計財務報表的責任」
所需內容：
| 要求 | 描述 |
|---|---|
| ------ | ------ |
| (a) 目標 | 說明目標：獲得合理保證並發出核數師報告 |
| (b) 合理保證 | 說明合理保證是高水平的保證，但不是保證 |
| (c) 重要性 | 描述重要性或提供定義 |
| (d) 專業判斷/懷疑態度 | 說明核數師運用專業判斷並保持專業懷疑態度 |
| (e) 風險評估 | 描述識別和評估重大錯誤陳述風險 |
| (f) 內部控制 | 描述了解與審計相關的內部控制 |
| (g) 會計政策/估計 | 描述評估會計政策的適當性和估計的合理性 |
| (h) 持續經營 | 描述對持續經營基礎適當性的結論 |
| (i) 公允列報評估 | 對於公允列報框架，描述對整體呈列的評估 |
| (j) 集團審計（HKSA 600） | 在適用時，描述集團審計中的責任 |
| (k) 與治理層溝通 | 描述關於計劃範圍、時間安排和重大審計發現的溝通 |
| (l) 獨立性 | 對於上市實體，說明遵守關於獨立性的道德要求 |
| (m) 關鍵審計事項的確定 | 對於上市實體，描述關鍵審計事項的確定 |
核數師責任描述的位置（第41-42段）
描述可包含在：
- 核數師報告正文內
- 核數師報告附錄中（在報告中提及）
- 通過引用適當機構的網站（僅在法律、法規或香港審計準則明確允許時）
其他報告責任（第43-45段）
如果核數師處理除香港審計準則下的責任外的其他報告責任：
- 這些應在單獨部分中以「關於其他法律及法規要求的報告」為標題處理
- 如果它們涉及與香港審計準則要求相同的主題，可在同一部分中呈列，但必須清晰區分
- 「關於其他法律及法規要求的報告」應跟在「關於審計財務報表的報告」之後
審計項目合夥人的姓名（第46段）
對於上市實體： 應包括審計項目合夥人的姓名，除非在罕見情況下，合理預期該披露會導致重大的個人安全威脅。
核數師的簽署（第47段）
核數師報告應予簽署。
核數師的地址（第48段）
核數師報告應指明核數師執業所在的司法管轄區的地點。
核數師報告的日期（第49段）
核數師報告的日期不得早於核數師已獲得充分適當審計證據的日期，包括以下證據：
- 構成財務報表的所有報表及披露已編製完成
- 具有公認權力的人士已聲明其對該等財務報表承擔責任
第六部分：法律或法規規定的核數師報告
最低要素（第50段）
如果法律或法規要求核數師使用特定的佈局或措辭，核數師報告只有在至少包含以下各要素時才可提及香港審計準則：
| 要素 | 描述 |
|---|---|
| ------ | ------ |
| (a) | 標題 |
| (b) | 收件人 |
| (c) | 意見部分，包含意見的表達及提及適用的財務報告框架 |
| (d) | 識別已審計的實體財務報表 |
| (e) | 獨立性及履行道德責任的聲明 |
| (f) | 在適用的情況下，處理持續經營報告要求的部分 |
| (g) | 在適用的情況下，保留（或否定）意見基礎部分 |
| (h) | 在適用的情況下，包含HKSA 701信息的部分 |
| (i) | 在適用的情況下，處理HKSA 720（修訂）要求的部分 |
| (j) | 管理層責任的描述 |
| (k) | 提及香港審計準則及核數師責任的描述 |
| (l) | 對於上市實體，審計項目合夥人的姓名 |
| (m) | 核數師的簽署 |
| (n) | 核數師的地址 |
| (o) | 核數師報告的日期 |
第七部分：雙重準則引用
按照其他準則和香港審計準則進行的審計（第51-52段）
核數師只有在以下情況下才可同時提及香港審計準則和其他審計準則：
- 不存在衝突：其他審計準則與香港審計準則的要求之間不存在會導致核數師形成不同意見或不包括香港審計準則要求的強調事項段或其他事項段的衝突
- 核數師報告至少包含第50(a)-(o)段列出的各要素
當同時提及兩套準則時，核數師報告應識別其他審計準則的來源司法管轄區。
第八部分：補充信息
補充信息的評估（第53-54段）
當補充信息是財務報表的組成部分時：
- 核數師應根據其專業判斷評估補充信息是否因其性質或呈列方式而成為財務報表的組成部分
- 如果是組成部分，補充信息應包含在核數師的意見中
當補充信息不是組成部分時：
- 核數師應評估該信息是否以充分清晰的方式與已審計財務報表區分
- 如果未能清晰區分，核數師應要求管理層改變呈列方式
- 如果管理層拒絕，核數師應識別未經審計的補充信息，並在核數師報告中說明該信息未經審計
第九部分：應用及其他解釋性材料
會計實務的質量方面（A1-A3）
管理層對金額和披露作出多項判斷。核數師可能注意到管理層判斷中可能存在偏見。
缺乏中立性的跡象：
- 選擇性更正錯誤陳述（例如，更正增加盈利的錯誤陳述，但不更正減少盈利的錯誤陳述）
- 在作出會計估計時可能存在管理層偏見
會計政策披露（A4）
核數師的考慮包括：
- 是否已包含適用的財務報告框架要求披露的所有關於主要會計政策的信息
- 所披露的信息是否相關，並反映確認、計量和呈列標準如何應用
- 政策呈列的清晰度
信息呈列（A5）
評估可理解性包括考慮：
- 信息是否以清晰簡潔的方式呈列
- 重大披露是否獲得適當的突出位置
- 披露是否適當交叉引用
重大交易及事項的披露（A6）
評估包括考慮：
- 信息與實體情況的相關性和具體程度
- 披露是否足以幫助使用者理解：
- 不符合確認標準的交易或事項產生的潛在資產和負債的性質和範圍
- 重大錯誤陳述風險的性質和範圍
- 影響已呈列或披露金額的方法、假設、判斷及其變更
公允列報評估（A7-A9）
核數師的評估是專業判斷事項，考慮：
- 實體的事實和情況
- 基於核數師了解的變更
- 審計過程中獲得的審計證據
- 為實現公允列報所需的、可能重大的事項的披露
適用的財務報告框架的描述（A10-A15）
關鍵點：
- 說明財務報表按照特定框架編製的描述僅在財務報表符合該框架所有要求時才適當
- 不精確的限定性語言（例如「大致符合」）不充分
- 提及兩個框架僅在財務報表各自符合每個框架時才適當
- 將結果調節至另一框架的附註不構成按照該另一框架編製
意見的形式（A16-A17）
公允列報框架： 如果財務報表未能實現公允列報，管理層可包括額外披露，或在極罕見情況下偏離某項要求。
合規框架： 如果核數師根據HKSA 210確定該框架是可接受的，則核數師認為按照合規框架編製的財務報表具有誤導性將是極其罕見的。
核數師報告要素（A18-A77）
標題（A20）： 像「獨立核數師報告」這樣的標題將獨立核數師的報告與他人發出的報告區分開來。
收件人（A21）： 通常致送給股東或治理層。
意見（A22-A31）：
- 「在所有重大方面公允列報」和「真實而公平地反映」被視為等同
- 在表達無保留意見時，使用「根據以上解釋」或「受限於」等措辭不適當
意見基礎（A32-A39）：
- 提供關於核數師意見的重要背景
- 必須直接跟在意見部分之後
- 提及準則表明審計是按照既定標準進行的
相關道德要求（A34-A39）：
- 識別來源司法管轄區提高透明度
- 對於集團審計，該引用通常與適用於集團項目團隊的道德要求相關
關鍵審計事項（A40-A42）：
- 法律或法規可能要求對上市實體以外的實體（例如公眾利益實體）溝通關鍵審計事項
- 核數師亦可決定對其他具有重大公眾利益的實體溝通關鍵審計事項
財務報表的責任（A44-A49）：
- 描述有助於向使用者解釋進行審計的前提
- 可根據特定司法管轄區或實體的相關額外責任進行調整
核數師的責任（A50-A57）：
- 可根據實體的具體性質（例如合併財務報表）進行調整
- 可包含在附錄中或通過引用適當機構的網站
其他報告責任（A58-A60）：
- 僅在處理相同主題時才允許合併呈列
- 必須清晰區分其他報告責任與香港審計準則下的責任
審計項目合夥人的姓名（A61-A63）：
- 旨在為使用者提供進一步透明度
- 在罕見情況下，因重大個人安全威脅可省略
簽署（A64-A65）：
- 可以會計師事務所名稱、核數師個人姓名或兩者簽署
- 在某些情況下可能允許電子簽署
日期（A66-A69）：
- 告知使用者核數師已考慮截至該日期的事件
- 不得早於所有報表和披露已編製完成且管理層已承擔責任的日期
補充信息（A78-A84）
示例：
- 解釋符合另一框架的附註可能被視為無法清晰區分的補充信息
- 作為單獨附表列示的額外損益表可能被視為可以清晰區分的補充信息
管理層對未經審計補充信息的選擇：
- 從財務報表中移除對未經審計附表的交叉引用
- 將未經審計信息置於財務報表之外
- 將未經審計附註放在所需附註的末尾，並清晰標記為「未經審計」
第十部分：關鍵要點總結
| 主題 | 關鍵點 |
|---|---|
| ------ | -------- |
| 目標 | 基於審計證據形成意見並通過書面報告表達 |
| 無保留意見 | 財務報表在所有重大方面按照適用框架編製 |
| 公允列報框架 | 需要評估財務報表是否實現公允列報 |
| 合規框架 | 無需評估公允列報；極罕見認為具有誤導性 |
| 意見措辭 - 公允列報 | 「在所有重大方面公允列報」或「真實而公平地反映」 |
| 意見措辭 - 合規 | 「在所有重大方面按照...編製」 |
| 報告部分 | 意見、意見基礎、關鍵審計事項（上市實體）、責任、核數師責任 |
| 審計項目合夥人姓名 | 上市實體需要，除非罕見個人安全威脅 |
| 報告日期 | 不早於獲得充分適當審計證據的日期 |
| 補充信息 | 如為財務報表組成部分，包含在意見中；如不是，必須清晰區分 |
| 雙重準則 | 僅在無衝突且包含最低要素時可同時提及香港審計準則和其他準則 |
| 法律/法規規定報告 | 必須包含最低15項要素才能提及香港審計準則 |
附錄：50 條多項選擇題
Q1. 根據HKSA 700（修訂），財務報表審計的生效日期是什麼？
A. 2014年12月15日或之後結束的期間
B. 2016年12月15日或之後結束的期間
C. 2016年12月15日或之後開始的期間
D. 2018年12月15日或之後結束的期間
答案：B
Q2. 以下哪項不是HKSA 700（修訂）下核數師的目標？
A. 基於對從審計證據得出的結論的評估，對財務報表形成意見
B. 通過書面報告清晰表達該意見
C. 發現財務報表中的所有舞弊和錯誤
D. 就財務報表是否按照適用的財務報告框架編製形成意見
答案：C
Q3. 根據HKSA 700（修訂），「一般目的框架」的定義是什麼？
A. 僅為稅務報告目的設計的框架
B. 旨在滿足廣泛使用者共同財務信息需求的框架
C. 為內部管理報告設計的框架
D. 僅為監管合規設計的框架
答案：B
Q4. 以下哪項最能描述「公允列報框架」？
A. 要求遵守但未承認需要額外披露的框架
B. 要求遵守並承認可能需要額外披露或偏離以實現公允列報的框架
C. 允許完全靈活呈列的框架
D. 僅適用於上市實體的框架
答案：B
Q5. 核數師何時應表達無保留意見？
A. 當核數師得出結論認為財務報表在所有重大方面按照適用的財務報告框架編製時
B. 當核數師已完成所有審計程序時
C. 當管理層同意所有審計調整時
D. 當沒有發現錯誤陳述時
答案：A
Q6. 根據HKSA 700（修訂），核數師在形成意見時必須考慮哪些因素？
A. 僅審計證據
B. 根據HKSA 330、HKSA 450的結論及第12-15段要求的評估
C. 僅管理層陳述
D. 僅已呈列的財務報表
答案：B
Q7. 以下哪項不是HKSA 700（修訂）第13段要求的具體評估？
A. 會計政策是否適當披露
B. 會計估計是否合理
C. 實體是否有足夠的內部控制
D. 呈列的信息是否相關、可靠、可比較及可理解
答案：C
Q8. 在評估財務報表是否實現公允列報時，核數師應考慮：
A. 僅整體呈列和結構
B. 僅財務報表是否反映基礎交易
C. 整體呈列、結構和內容，以及財務報表是否以實現公允列報的方式反映基礎交易及事項
D. 僅財務報表附註
答案：C
Q9. 核數師報告第一部分的所需標題是什麼？
A. 「核數師報告」
B. 「獨立核數師報告」
C. 「意見」
D. 「意見基礎」
答案：C
Q10. 在香港，用於表達公允列報框架下的無保留意見的措辭是什麼？
A. 「在所有重大方面公允列報」
B. 「真實而公平地反映」
C. 「在所有方面準確」
D. 「正確陳述」
答案：B
Q11. 根據HKSA 700（修訂），意見基礎部分必須包括什麼？
A. 所有執行審計程序的詳細描述
B. 說明審計是按照香港審計準則進行的聲明
C. 所有已識別錯誤陳述的摘要
D. 管理層對審計發現的回應
答案：B
Q12. 哪些實體必須在核數師報告中溝通關鍵審計事項？
A. 所有實體
B. 僅上市實體
C. 收入超過1億港元的實體
D. 員工超過100人的實體
答案：B
Q13. 描述管理層責任的部分的所需標題是什麼？
A. 「管理層報告」
B. 「管理層對財務報表的責任」
C. 「董事報告」
D. 「管理層討論與分析」
答案：B
Q14. 核數師何時可以引用網站來描述核數師的責任？
A. 始終可以，由核數師酌情決定
B. 僅在法律、法規或香港審計準則明確允許時
C. 僅對上市實體
D. 僅當客戶同意時
答案：B
Q15. 核數師報告日期的最低要求是什麼？
A. 審計現場工作完成的日期
B. 不早於獲得充分適當審計證據的日期
C. 財務期間的最後一天
D. 財務報表發送給股東的日期
答案：B
Q16. 何時必須在核數師報告中包含審計項目合夥人的姓名？
A. 所有審計
B. 僅上市實體的審計
C. 僅金融機構的審計
D. 由核數師酌情決定
答案：B
Q17. 在什麼罕見情況下可以省略審計項目合夥人的姓名？
A. 當審計項目合夥人要求時
B. 當合理預期披露會導致重大個人安全威脅時
C. 當客戶反對披露時
D. 當會計師事務所有不披露的政策時
答案：B
Q18. 根據HKSA 700（修訂），其他報告責任的適當標題是什麼？
A. 「其他事項」
B. 「關於其他法律及法規要求的報告」
C. 「補充信息」
D. 「額外報告」
答案：B
Q19. 當補充信息是財務報表的組成部分時，核數師的責任是什麼？
A. 補充信息應包含在核數師的意見中
B. 補充信息必須單獨審計
C. 補充信息必須從財務報表中排除
D. 核數師必須就補充信息發出單獨報告
答案：A
Q20. 如果未經審計的補充信息未能與已審計財務報表清晰區分，核數師應如何處理？
A. 將其包含在審計意見中
B. 要求管理層改變呈列方式；如被拒絕，在核數師報告中將其識別為未經審計
C. 忽略補充信息
D. 發出保留意見
答案：B
Q21. 以下哪項不是法律規定的核數師報告中提及香港審計準則時所需的最低要素？
A. 標題
B. 收件人
C. 審計程序摘要
D. 核數師的簽署
答案：C
Q22. 核數師何時可以在核數師報告中同時提及香港審計準則和其他審計準則？
A. 始終可以，如果審計是按照兩者進行的
B. 僅當準則之間不存在會導致不同意見或省略所需段落的衝突時
C. 僅對上市實體
D. 僅當法律要求時
答案：B
Q23. 核數師關於適用的財務報告框架描述的責任是什麼？
A. 核數師必須準備該描述
B. 核數師應評估財務報表是否充分提及或描述該框架
C. 核數師必須確保在審計委聘書中描述該框架
D. 核數師對該描述沒有責任
答案：B
Q24. 以下哪項對適用的財務報告框架的描述被認為是不充分的？
A. 「按照香港財務報告準則」
B. 「按照X司法管轄區的公認會計原則」
C. 「大致符合香港財務報告準則」
D. 「按照香港財務報告準則及公司條例的要求」
答案：C
Q25. 當財務報表按照兩個財務報告框架編製時，何時可以如此描述？
A. 當財務報表各自符合每個框架時
B. 當財務報表至少符合一個框架時
C. 當管理層聲明它們符合兩個框架時
D. 當核數師同意雙重引用時
答案：A
Q26. 當按照公允列報框架編製的財務報表未能實現公允列報時，核數師的責任是什麼？
A. 立即發出保留意見
B. 與管理層討論此事，並決定是否需要修改
C. 發出否定意見
D. 退出委聘
答案：B
Q27. 根據HKSA 700（修訂），核數師應如何評估財務報表是否實現公允列報？
A. 使用標準檢查清單
B. 通過考慮事實和情況的專業判斷
C. 與行業平均值比較
D. 僅獲取管理層陳述
答案：B
Q28. HKSA 700（修訂）中「無保留意見」一詞的含義是什麼？
A. 意見的表達沒有對標準措辭的任何更改
B. 財務報表在所有重大方面按照適用的財務報告框架編製
C. 核數師未發現錯誤陳述
D. 審計已完成且無問題
答案：B
Q29. 以下哪項是可能存在管理層偏見的跡象？
A. 會計政策的一致應用
B. 選擇性更正增加盈利但不更正減少盈利的錯誤陳述
C. 所有會計政策的全面披露
D. 使用外部估值專家
答案：B
Q30. 核數師報告應包括關於核數師獨立性的什麼內容？
A. 說明核數師按照相關道德要求獨立的聲明
B. 與實體所有關係的詳細描述
C. 管理層的確認
D. 說明審計不需要獨立性的聲明
答案：A
Q31. 核數師責任的描述何時可以包含在附錄中？
A. 從不可以
B. 始終可以，由核數師酌情決定
C. 當在核數師報告正文中作出適當引用時
D. 僅對上市實體
答案：C
Q32. 意見基礎部分的目的是什麼？
A. 提供詳細的審計程序
B. 提供關於核數師意見的重要背景
C. 列出所有審計調整
D. 描述實體的業務
答案：B
Q33. 根據HKSA 700（修訂），核數師應就會計估計評估什麼？
A. 它們是否由管理層準備
B. 管理層作出的估計及相關披露是否合理
C. 它們是否經董事會批准
D. 它們是否與往年一致
答案：B
Q34. 核數師關於持續經營基礎的責任是什麼？
A. 準備持續經營評估
B. 對管理層使用持續經營基礎的適當性作出結論
C. 保證實體將持續經營
D. 披露所有持續經營風險
答案：B
Q35. 當核數師得出結論認為存在與持續經營相關的重大不確定性時，需要做什麼？
A. 核數師必須發出保留意見
B. 核數師必須在核數師報告中提請注意財務報表中的相關披露
C. 核數師必須退出委聘
D. 核數師必須向監管機構報告
答案：B
Q36. 描述核數師對審計責任的部分的適當標題是什麼？
A. 「核數師報告」
B. 「核數師對審計財務報表的責任」
C. 「審計範圍」
D. 「審計程序」
答案：B
Q37. 根據HKSA 700（修訂），核數師應就合理保證說明什麼？
A. 它是絕對保證
B. 它是高水平的保證，但不是保證
C. 它與保證相同
D. 它是低水平的保證
答案：B
Q38. 核數師報告應包括關於重要性的什麼內容？
A. 具體的重要性門檻
B. 說明錯誤陳述被視為重大，如果它們合理預期會影響使用者的經濟決策
C. 重要性計算
D. 無需提及重要性
答案：B
Q39. 對於集團審計，核數師報告中應描述哪些額外責任？
A. 僅集團審計項目合夥人的責任
B. 獲得關於組成部分的充分適當審計證據、指導和監督以及對意見的獨家責任
C. 僅組成部分核數師的責任
D. 無需額外描述
答案：B
Q40. 根據核數師報告，核數師應向治理層溝通什麼？
A. 僅審計意見
B. 審計的計劃範圍和時間安排以及重大審計發現
C. 僅重大錯誤陳述
D. 僅審計費用
答案：B
Q41. 核數師何時可以省略關於考慮內部控制不是為了對其有效性表達意見的措辭？
A. 從不可以
B. 當核數師也有責任對內部控制的有效性表達意見時
C. 當實體不是上市實體時
D. 當管理層要求時
答案：B
Q42. 核數師關於會計政策適當性的責任是什麼？
A. 選擇會計政策
B. 評估所用會計政策的適當性
C. 準備會計政策
D. 批准會計政策
答案：B
Q43. 根據HKSA 700（修訂），核數師應就財務報表中使用的術語評估什麼？
A. 是否與行業慣例一致
B. 是否適當，包括各財務報表的標題
C. 是否經管理層批准
D. 是否所有使用者都能理解
答案：B
Q44. 當財務報表按照合規框架編製且核數師得出結論認為其具有誤導性時，核數師的責任是什麼？
A. 核數師必須發出否定意見
B. 核數師應與管理層討論此事，並決定是否及如何在核數師報告中溝通
C. 核數師必須退出委聘
D. 核數師必須向監管機構報告
答案：B
Q45. 核數師報告應包括關於財務報表識別的什麼內容？
A. 僅實體名稱
B. 各報表的標題、提及附註以及日期或涵蓋期間
C. 僅財務報表的日期
D. 僅實體的註冊號碼
答案：B
Q46. 根據HKSA 700（修訂），HKSA 700與ISA 700（修訂）之間的關係是什麼？
A. HKSA 700與ISA 700完全不同
B. HKSA 700與ISA 700（修訂）一致，但道德準則的引用除外
C. HKSA 700基於ISA 700但有重大差異
D. HKSA 700取代ISA 700
答案：B
Q47. 如果補充信息不是適用的財務報告框架要求的，但與已審計財務報表一同呈列，核數師應如何處理？
A. 始終將其包含在審計意見中
B. 評估它是否為財務報表的組成部分
C. 始終將其排除在審計意見之外
D. 就其發出單獨報告
答案：B
Q48. 核數師關於與財務報表一同呈列的其他信息的責任是什麼？
A. 沒有責任
B. 在適用的情況下按照HKSA 720（修訂）作出報告
C. 審計所有其他信息
D. 準備其他信息
答案：B
Q49. 根據HKSA 700（修訂），核數師應就主要會計政策的披露評估什麼？
A. 是否經董事會批准
B. 是否與實體相關並以可理解的方式呈列
C. 是否與行業慣例一致
D. 是否與往年相同
答案：B
Q50. 當法律或法規規定時，核數師報告要提及香港審計準則所需的最低要素數量是多少？
A. 10項要素
B. 15項要素（a）至（o）
C. 12項要素
D. 8項要素
答案：B
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