MP Auditing & Assurance Services w/ ACL Software CD-ROM A Systematic Approach

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  • Edition: 9th
  • Format: Hardcover w/CD
  • Copyright: 9/4/2013
  • Publisher: McGraw-Hill Education
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Supplemental Materials

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The fundamental values central to the Messier/Glover/Prawitt text include: student engagement, a systematic approach, and decision making. Student Engagement: The authors believe students are best served by acquiring a strong understanding of the basic concepts that underlie the audit process and how to apply those concepts to various audit and assurance services. The text is accessible to students through straightforward writing and the use of engaging, relevant real-world examples, illustrations, and analogies. The text explicitly encourages students to “stop and think” at important points in the text to help them apply principles covered and also helps students see the application of concepts in a practical setting through “practice insight” boxes. A Systematic Approach: The authors first introduce the three underlying concepts of audit risk, materiality, and evidence, then follow with a discussion of audit planning, the assessment of control risk, and a discussion of the nature, timing, and extent of evidence necessary to reach the appropriate level of detection risk. These concepts are then applied to each major business process and related account balances using a risk-based approach, (in following with the new standards adopted by the various auditing boards). Decision Making: Since much of auditing practice involves the application of auditor judgment, the authors focus on critical judgments and decision-making processes. If a student understands these basic concepts and how to apply them to an audit engagement, he or she will be more effective in today's dynamic audit environment. The new edition even includes a full advanced module on Professional Judgment.

Table of Contents

Part 1 Introduction to Assurance and Financial Statement Auditing

Chapter 1 An Introduction to Assurance and Financial Statement Auditing

Chapter 2 The Financial Statement Auditing Environment

Part 2 Audit Planning and Basic Auditing Concepts

Chapter 3 Audit Planning, Types of Audit Tests, and Materiality

Chapter 4 Risk Assessment

Chapter 5 Evidence and Documentation

Part 3 Understanding and Auditing Internal Control

Chapter 6 Internal Control in a Financial Statement Audit

Chapter 7 Auditing Internal Control over Financial Reporting

Part 4 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 5 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 Auditing the Financing/Investing Process: Prepaid Expenses, Intangible Assets, and Property, Plant and Equipment

Chapter 15 Auditing the Financing/Investing Process: Long-Term Liabilities, Stockholders' Equity, and Income Statement Accounts

Chapter 16 Auditing the Financing/Investing Process: Cash and Investments

Part 6 Completing the Audit and Reporting Responsibilities

Chapter 17 Completing the Audit Engagement

Chapter 18 Reports on Audited Financial Statements

Part 7 Professional Responsibilities

Chapter 19 Professional Conduct, Independence, and Quality Control

Chapter 20 Legal Liability

Part 8 Assurance, Attestation, and Internal Auditing Services

Chapter 21 Assurance, Attestation, and Internal Auditing Services

Advanced Module: Professional Judgment Framework - Understanding and Developing Professional Judgment in Auditing

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