The Audit Process 6e
ISBN-13: 9781408081709 / ISBN-10: 1408081709
The sixth edition of The Audit Process has been updated to include the latest changes in international accounting, auditing and financial reporting standards. The new edition features new questions from some of the most prominent exam boards including ACCA and Chartered Accountants Ireland and a new chapter on corporate governance and responsibility. This edition also welcomes on board Louise Crawford, who brings with her a wealth of experience and knowledge. This text is suitable for students studying auditing and assurance services on accounting, finance and business degrees.
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 evaluating 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, trade payables and financial liabilities
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 audit quality
19 Corporate governance
20 The auditor and liability under the law
21 Issues in auditing
22 Examination hints and final remarks
“This is an excellent book packed with case studies and self-assessment questions which are invaluable in any audit-related course at the undergraduate and postgraduate education. It is user-friendly and detailed, and I cannot recommend this book highly enough.” Ilias Basioudis, Senior Lecturer in Financial Accounting and Auditing, University of Aston, UK
“An excellent, readable text on audit which balances discussion of both practical and theoretical debates and issues. Detailed case studies and exercises are provided which help to support and enhance student reflection on contemporary issues in auditing and corporate governance.” Ian Dewing, Professor of Accounting, University of East Anglia, UK
“This book is brilliant. It covers essential topics in auditing from three important angles: theory of auditing, the practice of auditing and reference to empirical research. It is resourceful and helpful in attenuating difficult jargons contained in the international standards on auditing.” Mohammad Hudaib, Reader (Accounting and Finance), University of Glasgow, UK
"This book takes students from a basic understanding of audit through to degree standard allowing it to be used for different levels within the University. The text is both theoretical and practical which allows the student to understand how audit principles are applied in realistic situations. The text and case studies are current and address challenges faced by the audit profession." Wendy Mazzucco, Lecturer, Glasgow Caledonian University, UK
Iain Gray acquired extensive practical auditing experience with PricewaterhouseCoopers in Germany and Italy. He was for many years Principal Lecturer and Head of Auditing at Sheffield Hallam University and is formerly Chair of the Auditing Special Interest Group of the British Accounting and Finance Association.
Stuart Manson is a member of the Institute of Chartered Accountants of Scotland. He is presently a Professor of Accounting in Essex Business School at the University of Essex where he lectures on auditing and financial reporting. He has written a number of articles in academic journals and co-authored a number of research monographs in the areas of auditing and financial reporting.
Louise Crawford is Associate Dean, Research and Senior Lecturer of Accounting at the School of Business, University of Dundee. After working as a post-doctoral research scientist at St Andrews University, Louise trained with KPMG to become a Chartered Accountant with The Institute of Chartered Accountants of Scotland, practicing predominantly in corporate audit.