m******o
发帖数: 162 | 1 Auditor给我们的审计报告中包括“Notes to consolidated financial statements”
，请问这个审计报告中的“Notes to consolidated financial statements”和上市公
司年报中自己准备的footnotes是一样的东东吗？我看着怎么觉得是一样的？还是看着
相似其实测重点有所不同？我们自己从来没做过，不知道如果要做的话，是不是照搬就
可以了？
上市公司年报里的footnotes通常是公司自己准备的？还是其实也是Auditor帮忙做的？
貌似很低级的菜鸟问题，请大家不要笑哈！
谢谢！ | m******1
发帖数: 86 | 2 SEC reporting is a totally different ball game. Just like a Sunny weekend
golf game and master golf tournament: both are golf game but the regulation
complexity and participant level are totally not comparable at all.
Technically it's management's responsibility for the accuracy of financial
statements and footnotes. Unless the company is too small and don't have
enough resource, the company should engage third party, at least NOT the
same team to do the auditing, to keep Independence. However, this doesn't
mean you can't ask guidance and template from your auditors. Most auditors
would like to do this favor to the management provided they are not treated
poorly, especially not as a joke. :)
【在 m******o 的大作中提到】
: Auditor给我们的审计报告中包括“Notes to consolidated financial statements”
: ，请问这个审计报告中的“Notes to consolidated financial statements”和上市公
: 司年报中自己准备的footnotes是一样的东东吗？我看着怎么觉得是一样的？还是看着
: 相似其实测重点有所不同？我们自己从来没做过，不知道如果要做的话，是不是照搬就
: 可以了？
: 上市公司年报里的footnotes通常是公司自己准备的？还是其实也是Auditor帮忙做的？
: 貌似很低级的菜鸟问题，请大家不要笑哈！
: 谢谢！
| m******o
发帖数: 162 | 3 I am a little bit confused by your explanations.
I guess I should rephrase my questions:
1. Do auditors usually prepare "Notes to financial statements" and include
them as part of the auditors' report?
Our auditors' report is like a booklet, includes the notes similar to what I
can find in our parent company's annual report. Is the auditing firm not
required to do that at all, and our auditors just do us a favor by doing
that?
2.If answer to #1 is yes, then what's the major difference between the notes
prepared by the auditors, and that prepared by the company's management?
Thanks!
regulation
treated
【在 m******1 的大作中提到】
: SEC reporting is a totally different ball game. Just like a Sunny weekend
: golf game and master golf tournament: both are golf game but the regulation
: complexity and participant level are totally not comparable at all.
: Technically it's management's responsibility for the accuracy of financial
: statements and footnotes. Unless the company is too small and don't have
: enough resource, the company should engage third party, at least NOT the
: same team to do the auditing, to keep Independence. However, this doesn't
: mean you can't ask guidance and template from your auditors. Most auditors
: would like to do this favor to the management provided they are not treated
: poorly, especially not as a joke. :)
| m******1
发帖数: 86 | 4 I thought I made my point clear but I don't mind give it another try.
In all of my below explanation, financial statements mean financial reports
and footnotes. They are integrated part and should ONLY be management's
responsibility, NO exception!
Under no circumstance should auditor prepare financial statements for
clients. Your company could engage any consultant (even your current CPA
firms) to prepare footnotes on your behalf. However, the consultant had to
be independent, which means you can't use the same group of people to
prepare financial statements and auditing. Big 4 rarely prepare financial
statements for any clients, even they do, they still qualify independent as
they have enough resources to have separate teams to work on compilation and
auditing.
In addition, as the auditing engagement most likely is done at parent level.
Footnotes most likely is not required at sub level to save cost. There is
no way for parent company to use audited report to prepare financial
statements as the timing and budget will be out of control. Parent company
have other pipeline (like financial reporting template your submit to your
parent companies) to do consolidation.
I can't tell The footnote you mentioned belongs to parent company or your
own subsidiary. If I guess, I would bet the footnote referred is for parent
company. Even If it's belong to your own sub company, I would say the
footnote part is done by your boss and you just don't know it.
It doesn't make a lot business sense to have auditors to detail audit every
sub as long as the material test at parent level pass. A lot companies may
even have their sub audited once several years. The lead auditors normally
are flexible to some small potato subs to keep a good relation with the
clients.
However, there might a situation when some small potato subs don't have
enough resources to prepare a solid footnote. To get the train keep moving,
what auditors would do (even it's quite rarely for big 4 but happen more
often in smaller size firm) is to point out the errors, and sometimes even
prepare part/whole draft of footnotes. However, all basic information still
provided by management and management had to sign off to assume
responsibility. Of course, this type of service is not free and big 4 has
their way to maintain independent.
Hopefully this answer your question.
I
notes
【在 m******o 的大作中提到】
: I am a little bit confused by your explanations.
: I guess I should rephrase my questions:
: 1. Do auditors usually prepare "Notes to financial statements" and include
: them as part of the auditors' report?
: Our auditors' report is like a booklet, includes the notes similar to what I
: can find in our parent company's annual report. Is the auditing firm not
: required to do that at all, and our auditors just do us a favor by doing
: that?
: 2.If answer to #1 is yes, then what's the major difference between the notes
: prepared by the auditors, and that prepared by the company's management?
| l****z
发帖数: 29846 | | m******o
发帖数: 162 | 6 I didn't know a simple NO can be expanded that way ...
The footnotes were prepared by my boss and I didn't know about it? I bet my
boss thought I prepared them, if indeed the auditors are not allowed to do
it! Hahaha!
嗯, 这个英文看的很难受.
【在 l****z 的大作中提到】
: 嗯, 这个英文看的很难受.
| a******h
发帖数: 908 | 7 牛，能写能说，这就是为什么可以当经理
【在 l****z 的大作中提到】
: 嗯, 这个英文看的很难受.
| n***e
发帖数: 99 | 8 Very well said.
reports
as
【在 m******1 的大作中提到】
: I thought I made my point clear but I don't mind give it another try.
: In all of my below explanation, financial statements mean financial reports
: and footnotes. They are integrated part and should ONLY be management's
: responsibility, NO exception!
: Under no circumstance should auditor prepare financial statements for
: clients. Your company could engage any consultant (even your current CPA
: firms) to prepare footnotes on your behalf. However, the consultant had to
: be independent, which means you can't use the same group of people to
: prepare financial statements and auditing. Big 4 rarely prepare financial
: statements for any clients, even they do, they still qualify independent as
| l****z
发帖数: 29846 | 9 but I don't mind give it another try.
Hopefully this answer your question.
======================
如果我写了这种英文的话肯定要被我老板打出来了,也要被pwc auditor看不起了.
【在 a******h 的大作中提到】
: 牛，能写能说，这就是为什么可以当经理
| w*******u
发帖数: 36 | 10
my
I think that person who answered your question was correct in regard to your
situation, auditor only assists preparation of the footnote on behave of
management for issuers. and by that, it doesn't mean auditor do everything
for them, it is the management furnish info and auditor rephrase it. and
management yes, is to take ultimate responsibility if things would go wrong.
【在 m******o 的大作中提到】
: I didn't know a simple NO can be expanded that way ...
: The footnotes were prepared by my boss and I didn't know about it? I bet my
: boss thought I prepared them, if indeed the auditors are not allowed to do
: it! Hahaha!
:
: 嗯, 这个英文看的很难受.
| v********0
发帖数: 3010 | 11
这个能用两三句话解释的清楚吗.不懂.菜鸟一个.哈哈.
【在 l****z 的大作中提到】
: but I don't mind give it another try.
: Hopefully this answer your question.
: ======================
: 如果我写了这种英文的话肯定要被我老板打出来了,也要被pwc auditor看不起了.
| m******o
发帖数: 162 | 12 写了半天，其实我的问题只需要回答一个yes or No.
【在 v********0 的大作中提到】
:
: 这个能用两三句话解释的清楚吗.不懂.菜鸟一个.哈哈.
| m******o
发帖数: 162 | 13 答案没有错，但连我那么罗嗦的人看着都倍感罗嗦。
其实问这个问题之前我知道答案是NO，我只是想知道行业常规的做法而已。
your
wrong.
【在 w*******u 的大作中提到】
:
: my
: I think that person who answered your question was correct in regard to your
: situation, auditor only assists preparation of the footnote on behave of
: management for issuers. and by that, it doesn't mean auditor do everything
: for them, it is the management furnish info and auditor rephrase it. and
: management yes, is to take ultimate responsibility if things would go wrong.
|
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