Now in its fifth edition, this market-leading text provides students on
both undergraduate and professional courses in accounting with an essential introduction
to the principles and practice of auditing.
Completely updated to reflect recent changes in international accounting, auditing
and financial reporting standards – and incorporating relevant aspects of the global
financial crisis - this well-structured textbook offers an accessible approach, including
helpful margin notes and numerous self-assessment questions.
New to this Edition
- Updated to take account of recent changes in international accounting,
auditing and financial reporting standards and the global financial crisis
- Increased international material including the role of multinational audit firms
- More real life examples (including from the Financial Reporting Review Panel)
- Recent official examination questions (past papers from ACCA, ICAS, ICAEW and ICAI)
included on the Companion Website
- Strengthened coverage on audit assurance services and audit quality
- Enhanced online support resources
Features
- Incorporation of International Auditing Standards
- Excellent use of case studies and examples
- Provides an underlying conceptual framework for understanding auditing
- Covers the wider context of auditing - e.g. excellent coverage of the Audit Expectations
Gap
- Effectively blends practice and theory
- Useful practical exercises and assessment questions
- Encourages critical thinking
- Lecturers can gain access to a number of online resources including: an Instructor’s
Manual, PowerPoint slides, recent examination questions from official examination bodies
and solutions to lecturers’ self-assessment questions. Students get access to solutions
to students’ self-assessment questions and useful weblinks for recommended reading
Table of Contents
1 Why are auditors needed?
2 An overview of the postulates and concepts of auditing
3 The meaning and importance of auditor independence: factors affecting independence and
measures to attain it
4 Audit regulation
5 The risk-based approach to audit: audit judgement
6 The search for evidence explained
7 Systems work: basic ideas 1
8 Systems work: basic ideas 2
9 Testing and evaluation of systems
10 Substantive testing, computer-assisted audit techniques and audit programmes
11 Sampling and materiality
12 Final work: general principles, analytical review of financial statements, non-current
assets and trade receivables
13 Final work: specific problems related to inventories, construction contracts and trade
payables
14 Final review: post-balance sheet period, provisions, contingencies, letter of
representation
15 Assurance engagements and internal audit
16 The auditors’ report
17 Fraud and going concern
18 The audit expectations gap and corporate governance
19 The auditor and liability under the law
20 Criticisms and developments in auditing
21 Examination hints and final remarks
864 pages, Paperback
