This case looks into an instance of an audit failure in the context of a Pakistani listed company, Tri-Pack, whose financial statements for the year 2014 showed a material misstatement (which reduced 2013 profits after tax by around 88%). This led to an investigation by the regulator (Securities and Exchange Commission of Pakistan) into the audits across 2012–2013, culminating into a stern warning being issued to the engagement leader (partner) for having failed to exercise an attitude of professional scepticism, failed to perform the audit to obtain reasonable assurance around Tri-Pack’s financial statements being free from material misstatement either due to errors or fraud and failed to bring out material facts about the affairs of the company and make a report to the shareholders thereof1. The case hones in on the audit dynamics and defence presented by the audit firm (A.F. Ferguson & Co. Chartered Accountants) for the year 2013, to assess the shortcomings in the conduct of the audit of Tri-Pack’s financial statements for that year’s end. It stimulates the work of an audit quality head who reviewed Tri-Pack’s audit file in order to ascertain whether the objectives of the audit were met and what lessons can be drawn to leverage towards future audit engagements.

中文翻译：

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Tri-Pack Films Limited 的审计出了什么问题？

本案以巴基斯坦上市公司 Tri-Pack 的审计失败为例，该公司 2014 年的财务报表显示存在重大错报（导致 2013 年税后利润减少约 88%）。这导致监管机构（巴基斯坦证券交易委员会）对 2012 年至 2013 年的审计进行了调查，最终向项目负责人（合作伙伴）发出了严厉警告，原因是未能表现出专业的怀疑态度，未能通过进行审计以对 Tri-Pack 的财务报表不存在因错误或欺诈导致的重大错报获得合理保证，并且未能提供有关公司事务的重要事实并向其股东报告1。本案着重于审计公司（AF Ferguson & Co. Chartered Accountants）提出的 2013 年度审计动态和辩护，以评估 Tri-Pack 年末财务报表审计的不足之处。它激发了审计质量负责人的工作，该负责人审查了 Tri-Pack 的审计文件，以确定是否达到了审计目标，以及可以吸取哪些经验教训以用于未来的审计业务。