US-CN Companies & Securities Law Assignment

Comparative Information Corresponding Figures and Comparative Financial Statements 比较信息 Definitions 定义 Comparative information – The amounts and disclosures included in the financial statements in respect of one or more prior periods in accordance with the applicable financial reporting framework. 比较信息是指包含于财务报表中的、符合适用的财务报告编制基础的、与一个或多个以前期间相关的金额和披露。比较信息包括对应数据和比较财务报表 Corresponding figures – Comparative information where amounts and other disclosures for the prior period are included as an integral part of the current period financial statements, and are intended to be read only in relation to the amounts and other disclosures relating to the current period (referred to as “current period figures”). The level of detail presented in the corresponding amounts and disclosures is dictated primarily by its relevance to the current period figures. 对应数据属于比较信息，是指作为 本期 财务报表组成部分的 上期金额和相关披露 ，这些金额和披露 只能与本期相关的金额和披露 （称为“本期数据”） 联系起来阅读 。对应数据列报的详细程度主要取决于其与本期数据...

  Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report 在审计报告中增加强调事项段和其他事项段 Emphasis of Matter paragraph – A paragraph included in the auditor’s report that refers to a matter appropriately presented or disclosed in the financial statements that, in the auditor’s judgment, is of such importance that it is fundamental to users’ understanding of the financial statements. 强调事项段，是指审计报告 中含有的 一个段落，该段落 提及 已在财务报表中恰当列报或披露的事项，且根据注册会计师的职业判断，该事项对财务报表使用者理解财务报表 至关重要 。 the auditor shall include an Emphasis of Matter paragraph in the auditor’s report provided:  (a) The auditor would not be required to modify the opinion in accordance with ISA 705 (Revised)4 as a result of the matter; and (b) When ISA 701 applies, the matter has not been determined to be a key audit matter to be communicated in the auditor’s report. 在 同时满足 下列条件时，注册会计师应当在审计报告中增加强调事项段： （ 1）按照《中国注册会计师审计准则第 1502号—在审计报告中发表非无保留意见》的规定，该事项 不会导致 注册会计师发表非无保留意见； （ 2）当《中国注册会计师审计准则第 1504号—在审计报告中沟通关键审...

  Modifications to the Opinion in the Independent Auditor's Report 非无保留意见审计报告 The auditor shall modify the opinion in the auditor’s report when: (a) The auditor concludes that, based on the audit evidence obtained, the financial statements as a whole are not free from material misstatement; or  (b) The auditor is unable to obtain sufficient appropriate audit evidence to conclude that the financial statements as a whole are free from material misstatement. 当存在 下列情形之一 时， 注册会计师应当在审计报告中发表非无保留意见： （ 1）根据获取的审计证据， 得出 财务报表整体 存在 重大错报的结论（保留意见或否定意见）。 （ 2） 无法 获取充分、适当的审计证据， 不能 得出财务报表整体 不存在 重大错报的结论（保留意见或无法表示意见）。 A material misstatement of the financial statements may arise in relation to: (a) The appropriateness of the selected accounting policies; (b) The application of the selected accounting policies; or (c) The appropriateness or adequacy of disclosures in the financial statements. Appropriateness of the Selected Accounting Policies 会计政策的...

  Audits of Group Financial Statements 集团财务报表审计 Group – All the components whose financial information is included in the group financial statements. A group always has more than one component. 集团指由所有组成部分构成的整体，并且所有组成部分的财务信息包括在集团财务报表中 Group financial statements – Financial statements that include the financial information of more than one component. The term “group financial statements” also refers to combined financial statements aggregating the financial information prepared by components that have no parent but are under common control. 集团财务报表指包括一个以上组成部分财务信息的财务报表，也指没有母公司但处在同一控制下的各组成部分编制的财务信息所汇总生成的财务报表 Group engagement partner – The partner or other person in the firm who is responsible for the group audit engagement and its performance, and for the auditor's report on the group financial statements that is issued on behalf of the firm. 集团项目合伙人指会计师事务所中负责某项集团审计业务及其执行，并代表会计师事务所在对集团财务报表出具的审计报告上签字的合伙人 Group engagement team – Partne...

  Consideration of Laws and Regulations in an Audit of Financial Statements 财务报表审计中对法律法规的考虑 Non-compliance: Acts of omission or commission, intentional or unintentional, committed by the entity, or by those charged with governance, by management or by other individuals working for or under the direction of the entity, which are contrary to the prevailing laws or regulations. Non-compliance does not include personal misconduct unrelated to the business activities of the entity. 违反法律法规是指被审计单位、治理层、管理层或者为被审计单位工作或受其指导的其他人，有意或无意违背除适用的财务报告编制基础以外的现行法律法规的行为，违反法律法规不包括与被审计单位经营活动无关的个人不当行为。 In the context of laws and regulations, the potential effects of inherent limitations on the auditor's ability to detect material misstatements are greater for such reasons as the following: There are many laws and regulations, relating principally to the operating aspects of an entity, that typically do not affect the financial statements an...

  Subsequent Events 期后事项 This is differences between International Standards on Auditing (ISA) and PRC Auditing Standards (中国审计准则) with regard to subsequent events Definitions Subsequent events – Events occurring between the date of the financial statements and the date of the auditor's report, and facts that become known to the auditor after the date of the auditor's report. 期后事项是指财务报表日至审计报告日之间发生的事项 ，以及注册会计师在审计报告日后知悉的事实。 Events Occurring between the Date of the Financial Statements and the Date of the Auditor's Report 主动识别第一时段期后事项 The auditor shall perform audit procedures designed to obtain sufficient appropriate audit evidence that all events occurring between the date of the financial statements and the date of the auditor's report that require adjustment of, or disclosure in, the financial statements have been identified. The auditor is not, however, expected to perform additional audit procedures on matters to which previously applied audit procedures have provide...

  Written Representations 书面声明 Definitions Written representation – A written statement by management provided to the auditor to confirm certain matters or to support other audit evidence. Written representations in this context do not include financial statements, the assertions therein, or supporting books and records. 书面声明指管理层向注册会计师提供的书面陈述，用以确认某些事项或支持其他审计证据。书面声明不包括财务报表及其认定，以及支持性账簿和相关记录 Written Representations about Management's Responsibilities 针对管理层责任的书面声明 Preparation of the Financial Statements 针对财务报表的编制的书面声明 The auditor shall request management to provide a written representation that it has fulfilled its responsibility for the preparation of the financial statements in accordance with the applicable financial reporting framework, including, where relevant, their fair presentation, as set out in the terms of the audit engagement. 针对财务报表的编制，注册会计师应当要求管理层提供书面声明，确认其根据审计业务约定条款 ，履行了按照适用的财务报告编制基础编制财务报表并使其实现公允反映（如适用）的责任 Information Provided and Completeness of Transactions 针对提供的信息和交易...

  Communicating Key Audit Matters in the Independent Auditor's Report Key audit matters — Those matters that, in the auditor's professional judgment, were of most significance in the audit of the financial statements of the current period. Key audit matters are selected from matters communicated with those charged with governance. 关键审计事项指注册会计师根据职业判断认为对当期财务报表审计最为重要的事项 The purpose of communicating key audit matters is to enhance the communicative value of the auditor's report by providing greater transparency about the audit that was performed. Communicating key audit matters provides additional information to intended users of the financial statements ("intended users") to assist them in understanding those matters that, in the auditor's professional judgment, were of most significance in the audit of the financial statements of the current period. Communicating key audit matters may also assist intended users in understanding the entity and areas of significan...

  Materiality 重要性 ISA 320 Materiality in planning and performing an audit notes that while it may be discussed in different terms by different financial reporting frameworks the following are generally the case: 重要性概念可以从以下方面理解： (a) Misstatements, including omissions, are considered to be material if they, individually or in aggregate, could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. （a）如果合理预期错报（包括漏报）单独或汇总起来可能影响财务报表使用者依据财务报表作出的经济决策，则通常认为错报是重大的。 (b) Judgements about materiality are made in the light of surrounding circumstances, and are affected by the size and nature of a misstatement or a combination of both. （b）对重要性的判断是根据具体环境作出的，并受错报的金额或性质的影响，或受两者共同作用的影响。 (c) Judgements about matters that are material to users of financial statements are based on a consideration of the common financial information needs of users as a group. （c）判断某事项对财务报表使用者是否重大，是在考虑财务报表使用者整体共同的财务信息需求的基础上作出的。 The concept of materiality is appl...

  Audit sampling 审计抽样 Audit sampling is the application of audit procedures to less than 100% of items within a population of audit relevance such that all sampling units have a chance of selection in order to provide the auditor with a reasonable basis on which to draw conclusions about the entire population. 审计抽样是指注册会计师对具有审计相关性的总体中低于百分之百的项目实施的审计程序，使得所有抽样单元都有被选取的机会，为注册会计师针对整个总体得出结论提供合理基础。 The population is the entire set of data from which a sample is selected and about which the auditor wishes to draw conclusions. Sampling risk is the risk that the auditor's conclusion based on a sample may be different from the conclusion that would be reached if the entire population were subjected to the same audit procedure. Sampling risk can lead to two types of erroneous conclusions: (i) In the case of a test of controls, that controls are more effective than they actually are, or in the case of a test of details, that a material misstatement does not exist when in fact it does. The auditor...

  Going Concern     持续经营 Events or conditions that may cast doubt about the going concern assumption Financial Net liability or net current liability position Fixed-term borrowings approaching maturity without realistic prospects of renewal or repayment Indications of withdrawal of financial support by creditors Negative operating cash flows Adverse key financial ratios Substantial operating losses and significant deterioration in the value of assets used to generate cash flows Arrears or discontinuance of dividends Inability to pay creditors on due dates  inability to comply with terms of loan agreements Change from credit to cash-on-delivery transactions with suppliers Inability to obtain financing for essential new product development or other essential investments operating Audit reporting  Scenario 1, going concern assumption appropriate but material uncertainty which is adequately disclosed In this situation, the opinion of the financial statements wi...

  Accounting Estimates   会计估计 An accounting estimate is an approximation of a monetary amount in the absence of a precise means of measurement. 会计估计是指在缺乏精确计量手段的情况下，采用的某项金额的近似值。会计估计一般包括公允价值会计估计和其他会计估计。 Estimation uncertainty is the susceptibility of an accounting estimate and related disclosures to an inherent lack of precision of its measurement. Risk assessment procedures 风险评估程序 The requirements of the applicable financial reporting framework 了解使用的财务报告编制基础的要求 How management identifies those transactions, events and conditions that may give rise to the need for accounting estimates. 了解管理层如何识别需要作出会计估计的交易，事件和情况 How management makes the accounting estimates. 了解管理层如何作出会计估计 Review of the outcome of accounting estimates included in the prior period. 复核上期会计估计 Responding to the assessed risks 应对会计估计重大错报风险的程序 Determine whether events occurring up to the date of the auditor's report provide audit evidence regarding the accounting estimate. 确定截至审计报告日发生的事项是否提供有关会计估计的审计证据 Test how man...