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Auditing

Auditing - 8th edition

ISBN13: 978-0324226294

Cover of Auditing 8TH 06 (ISBN 978-0324226294)
ISBN13: 978-0324226294
ISBN10: 0324226292

Cover type: Hardback
Edition: 8TH 06
Copyright: 2006
Publisher: South-Western Publishing Co.
Published: 2006
International: No

List price: $306.00

Auditing - 8TH 06 edition

ISBN13: 978-0324226294

David Ricchiute

ISBN13: 978-0324226294
ISBN10: 0324226292

Cover type: Hardback
Edition: 8TH 06
Copyright: 2006
Publisher: South-Western Publishing Co.
Published: 2006
International: No
Summary

AUDITING encourages discovery learning in its coverage of auditing practices. By integrating academic research; offering audit documentation review cases; and proposing research projects that ask students to answer challenging questions, the text exposes students to databases, annual reports, and the professional literature in a way that will prepare them for success in their future careers. The new edition focuses on fraud, restatement, and earnings management--addressing corporate governance and the audit standard setting that is evolving as a result of recent scandals (such as Enron/Arthur Andersen) and mandates (such as the Sarbanes-Oxley Act of 2002 and the standards of the Public Accounting Oversight Board and the SEC).

Benefits:

  • NEW! Currency: The Eighth Edition exposes students to the Sarbanes-Oxley Act, to auditor-independence rules, and to standards of the Public Company Accounting Oversight Board (PCAOB) and the Auditing Standards Board (ASB) To provide the most current coverage on changes in standard setting and governance.
  • Research Projects: The text includes over 40 end-of-chapter research projects linked to the professional literature, publicly available data sources, and annual reports of the student's/ instructor's choice. The projects are intended as out-of-class, discovery-learning exercises that do not necessarily lend themselves to unambiguous solutions.
  • Overview of the Audit Process: So that students may see the entire audit and assurance services process in a single chapter, Chapter 5 offers a concise step-by-step overview of the audit and assurance services processes.
  • Integration of Computer Systems: Coverage of computer information systems is integrated throughout the book to provide a thorough grasp on how pervasive computers are in contemporary practice.
  • NEW! Incorprates Discovery Learning: Discovery learning is encouraged throughout this text via individual academic research, professional literature, working paper review cases, research projects, and opportunities to analyze actual data from real companies.
  • NEW! Review Cases: To help equip students to prepare audit documentation, the 8th Edition incorporates documentation review cases. The documents are realistic, replicate issues illustrated in the text, and are designed to lend insight into what reviewers are likely to look for.
  • NEW! Streamlined Coverage of Sampling: The Eighth Edition streamlines sampling into a single chapter, giving instructors the option of whether or not to include this topic in their course.
  • NEW! Organization: The text has been reorganized into five parts containing 19 chapters. Professional Ethics and Legal Liability are discussed in Part One and throughout the text.
  • Coverage of Risk: The client strategy template introduced in Chapter 5 offers students a means to visualize audit clients from the level of financial transactions. It also lets them work from the vantage point of management's risks, the strategies management undertakes to overcome risk, and the transactions and events that are the product of management's strategies.
  • Coverage of Assurance Services: Consistent with the work of the AICPA Special Committee on Assurance Services (Elliot Committee), coverage of assurance and attestation services is integrated throughout.
  • Real World Applications: To ground otherwise abstract issues in reality, the text offers numerous examples of real world applications in practice.
  • Working Paper Review Cases: To help equip students to prepare working papers, the text incorporates working paper review cases.

Table of Contents

PART ONE. RESPONSIBILITIES AND REPORTING.

1. An Introduction to Audit and Other Assurance Services.
2. Standards, Materiality, and Risk.
3. Audit Reports.
4. Professional Ethics.
5. Legal Liability.

PART TWO. THE AUDIT PROCESS AND INTERNAL CONTROL.

6. Evidence.
7. The Audit Process and Detecting Fraud.
8. Internal Control.

PART THREE. AUDITING THE REVENUE/RECEIPT AND THE EXPENDITURE/DISBURSEMENT CYCLES.

9. Audit Sampling.
10. Sales and Cash Receipts Transactions.
11. Accounts Receivable and Cash Balances.
12. Purchases and Cash Disbursements Transactions.
13. Accounts Payable, Prepaids, and Accrued Liabilities.

PART FOUR. AUDITING OTHER CYCLES AND COMPLETING AN AUDIT.

14. Personnel and Payroll.
15. Inventory and Fixed Assets.
16. Investments, Debt, and Equity.
17. Completing an Engagement.

PART FIVE. ASSURANCE AND ATTESTATION SERVICES, COMPLIANCE AND INTERNAL AUDITING.

18. Other Assurance and Attestation Services.
19. Compliance and Internal Auditing.