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Principals of Auditing

Principals of Auditing - 12th edition

Principals of Auditing - 12th edition

ISBN13: 9780256167795

ISBN10: 0256167796

Principals of Auditing by O. Ray Whittington and Kurt Pany - ISBN 9780256167795
Edition: 12TH 98
Copyright: 1998
Publisher: Richard D. Irwin, Inc.
International: No
Principals of Auditing by O. Ray Whittington and Kurt Pany - ISBN 9780256167795

ISBN13: 9780256167795

ISBN10: 0256167796

Edition: 12TH 98

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Twelfth Edition
Ray Whittington, Depaul University
Kurt Pany, Arizona State University---Tempe
0-256-16779-6 / 1998 / Hardcover / 816 pgs
August 1997

Principles of Auditing provides a carefully balanced presentation of auditing theory and practice. This book continues to proactively monitor the changes in auditing and clearly present concepts, making the relationship between auditing and accounting truly understandable. Whittington/ Pany is the #1 Principles of Auditing text using a balance sheet approach. Industry Focus Cases use examples from specific industries to provide students with detailed "real world" illustration of points being emphasized in the text. These boxed cases show the importance of having a thorough knowledge of the audit client's business. PowerPoint Presentations are available to assist in classroom presentations. Internet Applications are located in the End of Chapter material in select chapters. These exercises encourage students to use the Internet as a resource for applicable accounting information. These exercises are identified by a WWW logo in the margin. A data disk to accompany the Keystone Computers continuous problem is available. This book is completely updated to reflect current auditing standards. This ensures that students have the most up to date FASB and GAAS rules. The substantive test portions of the text continue to use financial statement assertions to derive closely related audit objectives. This simplifies the analysis by not requiring students to consider widely differing objectives for the various accounts, and also makes it easier to understand the audit relationships between internal control and substantive testing. Primary audit objectives for each audit procedure are highlighted by a small box in the margin. Transaction cycles, and portions of cycles, continue to be separated into the balance sheet chapter to which they most directly relate. The various procedural chapters now include illustrative examples of the source documents associated with the various transaction cycles. Discussions of international auditing standards illustrate their increasing significance as countries attempt to create international markets for securities. End of Chapter Material is divided into Review Questions, Questions Requiring Analysis, Problems, Research and Discussion Cases, and Audit Case Exercises. This allows instructors to tailor their assignments based on what skills they want to develop in their students. The Audit Case Exercises are expanded to include chapter 12 on payables. These case exercises lead the students from the original planning of an audit through the process of performing tests of controls and substantive tests to evaluating the audit results.

Table of Contents

Table of Contents


Chapter 1. The Role of the Auditor in the American Economy

Chapter 2. Professional Standards

Chapter 3. Professional Ethics

Chapter 4. Legal Liability of Auditors

Chapter 5. Audit Evidence

Chapter 6. Planning the Audit; Designing Audit Programs

Chapter 7. Internal Control

Chapter 8. Consideration of Internal Control in a Computer Environment

Chapter 9. Audit Sampling

Chapter 10. Audit Working Papers: Examination of the General Records

Chapter 11. Cash and Marketable Securities

Chapter 12. Accounts Receivable, Notes Receivable, and Sales Transactions

Chapter 13. Inventories and Cost of Goods Sold

Chapter 14. Property, Plant, and Equipment: Depreciation and Depletion

Chapter 15. Accounts Payable and Other Liabilities

Chapter 16. Debt and Equity Capital; Loss Contingencies

Chapter 17. Auditing Operations and Completing the Audit

Chapter 18. Auditors' Reports

Chapter 19. Other Attestation and Accounting Services

Chapter 20. Internal, Operational, and Compliance Auditing