Auditing and Assurance Services, Global Edition, 18th edition

Published by Pearson (August 2, 2024) © 2024

  • Alvin A. Arens Michigan State University
  • Randal J. Elder The University of North Carolina Greensboro
  • Mark S. Beasley North Carolina State University
  • Chris E. Hogan Michigan State University
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Auditing and Assurance Services: An Integrated Approach, the definitive introductory text on auditing, focuses on the auditor's decision-making process—whether during a financial statement audit or during an integrated audit of both financial statements and internal control over financial reporting. Comprehensive and up to date, the text uses examples from the complex, current global auditing environment, such as the United Kingdom's Financial Reporting Council highlighting a lack of skepticism as a major concern; the challenges of auditing crypto-assets; and the debate over climate-related risk assessment, to illustrate the nature and amount of evidence gathering needed at each engagement.

Using key audit decisions—like establishing the objectives in a given audit area; identifying the risks related to the engagement; determining the evidence needed; and evaluating the evidence obtained—as its foundation, this text equips students with the skills to successfully conduct an audit according to internationally recognized financial reporting frameworks.

The 18th Edition, Global Edition, contains the latest standards and codes as well as new data analysis and sample CPA-style questions to help you prepare for the actual exam.

PART 1: THE AUDITING PROFESSION

  1. The Demand for Audit and Other Assurance Services
  2. The CPA Profession
  3. Audit Reports
  4. Professional Ethics
  5. Legal Liability

PART 2: THE AUDIT PROCESS

  1. Audit Responsibilities and Objectives
  2. Audit Evidence
  3. Audit Planning and Materiality
  4. Assessing the Risk of Material Misstatement
  5. Assessing and Responding to Fraud Risks
  6. Internal Control and Coso Framework
  7. Assessing Control Risk and Reporting on Internal Controls
  8. Overall Audit Strategy and Audit Program

PART 3: APPLICATION OF THE AUDIT PROCESS TO THE SALES AND COLLECTION CYCLE

  1. Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions
  2. Audit Sampling for Tests of Controls and Substantive Tests of Transactions
  3. Completing the Tests in the Sales and Collection Cycle: Accounts Receivable
  4. Audit Sampling for Tests of Details of Balances

PART 4: APPLICATION OF THE AUDIT PROCESS TO OTHER CYCLES

  1. Audit of the Acquisition and Payment Cycle: Tests of Controls, Substantive Tests of Transactions, and Accounts Payable
  2. Completing the Tests in the Acquisition and Payment Cycle: Verification of Selected Accounts
  3. Audit of the Payroll and Personnel Cycle
  4. Audit of the Inventory and Warehousing Cycle
  5. Audit of the Capital Acquisition and Repayment Cycle
  6. Audit of Cash and Financial Instruments

PART 5: COMPLETING THE AUDIT

  1. Completing the Audit

PART 6: OTHER ASSURANCE AND NONASSURANCE SERVICES

  1. Other Assurance Services
  2. Internal and Governmental Financial Auditing and Operational Auditing

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