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Auditing and Assurance Services - Text Only

Auditing and Assurance Services - Text Only - 5th edition

Auditing and Assurance Services - Text Only - 5th edition

ISBN13: 9780073403946

ISBN10: 0073403946

Auditing and Assurance Services - Text Only by William F. Messier - ISBN 9780073403946
Edition: 5TH 08
Copyright: 2008
Publisher: Richard D. Irwin, Inc.
Published:
International: No
Auditing and Assurance Services - Text Only by William F. Messier - ISBN 9780073403946

ISBN13: 9780073403946

ISBN10: 0073403946

Edition: 5TH 08

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Summary

Messier employs the audit approach currently being used by auditing professionals. This approach is a direct result of the demands of Sarbanes-Oxley, which has changed the way auditors do their jobs. The 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 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.