Modern Auditing and Assurance Services (6^th Ed.)

Modern Auditing &, Assurance Services , 6th edition, is written for courses in auditing and assurance at undergraduate, postgraduate and professional levels. The practice of auditing is explained in the context of auditing theory, concepts and current practice, with appropriate reference to the Australian auditing standards and the respective international standards on auditing. Auditors play a vital role in the current economic environment, with increasing responsibility for ensuring market integrity. The development of auditing practice reflects how the accounting profession responds to the complex demands of information, competition, corporate failures and technology. Auditing continues to evolve in response to the changing business and regulatory landscape to maintain its relevance and importance. This book is a comprehensive guide to the development and practice of audits of a financial report, with an authoritative insight into the fundamental role of auditors, the influences on audits, and related issues.

PART 1 THE AUDITING AND ASSURANCE ENVIRONMENT 1 An overview of auditing 2 Governance and the auditor 3 Professional ethics, independence and audit quality 4 Other assurance engagements and quality standards 5 The auditor&rsquo,s legal liability  , PART 2 AUDIT PLANNING 6 Overview of the audit of financial reports 7 The auditor&rsquo,s report 8 Client evaluation and planning the audit 9 Audit risk assessment 10 Materiality and audit evidence  , PART 3 AUDIT TESTING METHODOLOGY 11 Tests of controls 12 Designing substantive procedures 13 Audit sampling  , PART 4 AUDITING TRANSACTIONS AND BALANCES 14 Auditing sales and receivables 15 Auditing purchases, payables and payroll 16 Auditing inventories and property, plant and equipment 17 Auditing cash and investments  , PART 5 COMPLETING THE AUDIT 18 Completing the audit