9780073137537

Auditing & Assurance Services: A Systematic Approach with ACL CD and OLC Card

by
  • ISBN13:

    9780073137537

  • ISBN10:

    0073137537

  • Edition: 4th
  • Format: Hardcover
  • Copyright: 12/30/2004
  • Publisher: McGraw-Hill/Irwin
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Summary

Messier employs the new audit approach currently being used by auditing professionals. This new approach is a direct result of the demands of Sarbanes-Oxley, which has changed the way auditors do their jobs. The new auditing approach emphasizes understanding the entity (i.e., the organization or business being audited) and its environment (i.e. industry), and then assessing the business risks faced by the entity and how management controls those risks. This new audit process focuses on business processes instead of accounting cycles. This unique and innovative approach has been developed in response to changing market dynamics. The systematic approach, referred to in the subtitle of the text, reflects the early introduction of three basic concepts that underlie the audit process: materiality, audit risk, and evidence; this allows Messier to build upon this model in subsequent chapters. These are central to everything an auditor does and a unique feature of Messier. As such, this approach helps students develop auditor judgment, a vital skill in today's auditing environment.

Table of Contents

PART I: INTRODUCTION TO FINANCIAL STATEMENT AUDITING

Chapter 1: An Introduction to Assurance and Financial Statement Auditing

Chapter 2: The Financial Statement Auditing Environment

PART II: BASIC AUDITING CONCEPTS: RISK ASSESSMENT, MATERIALITY, AND EVIDENCE

Chapter 3: Risk Assessment and Materiality

Chapter 4: Audit Evidence and Audit Documentation

PART III: PLANNING THE AUDIT AND UNDERSTANDING INTERNAL CONTROL

Chapter 5: Audit Planning and Types of Audit Tests

Chapter 6: Internal Control in a Financial Statement Audit

Chapter 7: Auditing Internal Control over Financial Reporting in Conjunction with an Audit of Financial Statements

PART IV: STATISTICAL AND NONSTATISTICAL SAMPLING TOOLS FOR AUDITING

Chapter 8: Audit Sampling: An Overview and Application to Tests of Controls

Chapter 9: Audit Sampling: An Application to Substantive Tests of Account Balances

PART V: AUDITING BUSINESS PROCESSES

Chapter 10: Auditing the Revenue Process

Chapter 11: Auditing the Purchasing Process

Chapter 12: Auditing the Human Resource Management Process

Chapter 13: Auditing the Inventory Management Process

Chapter 14: Financing Process: Auditing Prepaid Expenses and Property, Plant, and Equipment

Chapter 15: Financing process: Auditing Long-Term Liabilities, Stockholders Equity, and

Chapter 16: Financing Process: Auditing Cash and Investments

PART VI: COMPLETING THE AUDIT AND REPORTING RESPONSIBILITIES

Chapter 17: Completing the Engagement

Chapter 18: Reports on Audited Financial Statements and on Internal Control over Financial Reporting

PART VII: PROFESSIONAL RESPONSIBILITIES

Chapter 19: Professional Conduct, Independence, and Quality Control

Chapter 20: Legal Liability

PART VIII: ASSURANCE, ATTESTATION, AND INTERNAL AUDITING SERVICES

Chapter 21: Assurance, Attestation, and Internal Auditing Services

Index

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