Description
Book SynopsisAbout our authors
Alvin A. Arens (Nov. 24, 1935 to Dec. 6, 2010), founding author of this textbook, was the PricewaterhouseCoopers Professor of Accounting Emeritus at Michigan State University. In addition to writing books on auditing, he was a coauthor of computerized accounting supplements and he was actively involved in the continuing education of practitioners with local and regional CPA firms. Al was a past president of the American Accounting Association and a former member of the AICPA Auditing Standards Board. He practiced public accounting with both a local CPA firm and the predecessor firm to Ernst & Young. He received many awards including the AAA Auditing Section Outstanding Educator award, the AICPA Outstanding Educator award, the national Beta Alpha Psi Professor of the Year award, and many teaching and other awards at Michigan State.
Randy J. Elder, who has served as a coauthor of this textbook since the 8th edition, i
Table of Contents
PART 1: THE AUDITING PROFESSION
- The Demand for Audit and Other Assurance Services
- The CPA Profession
- Audit Reports
- Professional Ethics
- Legal Liability
PART 2: THE AUDIT PROCESS
- Audit Responsibilities and Objectives
- Audit Evidence
- Audit Planning and Materiality
- Assessing the Risk of Material Misstatement
- Assessing and Responding to Fraud Risks
- Internal Control and Coso Framework
- Assessing Control Risk and Reporting on Internal Controls
- Overall Audit Strategy and Audit Program
PART 3: APPLICATION OF THE AUDIT PROCESS TO THE SALES AND COLLECTION CYCLE
- Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions
- Audit Sampling for Tests of Controls and Substantive Tests of Transactions
- Completing the Tests in the Sales and Collection Cycle: Accounts Receivable
- Audit Sampling for Tests of Details of Balances
PART 4: APPLICATION OF THE AUDIT PROCESS TO OTHER CYCLES
- Audit of the Acquisition and Payment Cycle: Tests of Controls, Substantive Tests of Transactions, and Accounts Payable
- Completing the Tests in the Acquisition and Payment Cycle: Verification of Selected Accounts
- Audit of the Payroll and Personnel Cycle
- Audit of the Inventory and Warehousing Cycle
- Audit of the Capital Acquisition and Repayment Cycle
- Audit of Cash and Financial Instruments
PART 5: COMPLETING THE AUDIT
- Completing the Audit
PART 6: OTHER ASSURANCE AND NONASSURANCE SERVICES
- Other Assurance Services
- Internal and Governmental Financial Auditing and Operational Auditing
