Core Auditing Standards for Practitioners E-Book

Katharine Bagshaw

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 361

Veröffentlichungsjahr: 2014

Beschreibung

The only book on the market specifically designed to help audit staff stay ahead of inspectors

This comprehensive, practical, and theoretical guide covers the key ISAs that underpin audit methodologies and the recently revised ISAs that cause practitioners the most concern. It is designed to enhance auditors' understanding of critical ISAs, reducing their dependence on methodologies to mediate and explain ISA requirements. Using plenty of examples, the book helps audit staff learn to tailor audit methodologies and remove redundancies, as well as form high-quality judgments with a thorough grounding in ISA to serve in discussions with file reviewers and audit inspectors.

• Features practical examples that appeal to auditors with technical responsibilities
• Covers key topics such as smaller audits, management override of controls, documenting judgments, and dealing with accounting estimates and written presentations
• Ideal for practitioners in companies and accounting firms, as well as auditing students
• Includes access to a companion website with constantly updating ISAs and case studies

Mixing theory with practical examples, Core Auditing Standards for Practitioners provides experienced audit staff with key ISA-related information they need to succeed.

Leseprobe

Contents

Introduction

Chapter 1: Smaller Entity Audits

1.1 The Issues

1.2 What the Regulators Say

1.3 What Practitioners Say

1.4 What the Standards Say

Chapter 2: Materiality

2.1 The Issues

2.2 What the Regulators Say

2.3 What Practitioners Say

2.4 What the Standards Say

Chapter 3: Related Parties

3.1 The Issues

3.2 What the Regulators Say

3.3 What Practitioners Say

3.4 What the Standards Say

Chapter 4: Get This Right and the Rest Falls into Place: Understanding the Entity and Assessing Risk

4.1 The Issues

4.2 What the Regulators Say

4.3 What Practitioners Say

4.4 What the Standards Say

Chapter 5: Really Efficient Audits: What Sort of Evidence Do I Really Need?

5.1 The Issues

5.2 What the Regulators Say

5.3 What Practitioners Say

5.4 What the Standards Say

Chapter 6: Fraud

6.1 The Issues

6.2 What the Regulators Say

6.3 What Practitioners Say

6.4 What the Standard Says

Chapter 7: Communications with Those Charged with Governance

7.1 The Issues

7.2 What the Regulators Say

7.3 What Practitioners Say

7.4 What the Standard Says

Chapter 8: Group Audits

8.1 The Issues

8.2 What the Regulators Say

8.3 What Practitioners Say

8.4 What the Standards Say

Chapter 9: Other Things Good Auditors Need to Know About ISAs

9.1 Other Good Things – The Issues

9.2 ISA 230 on Documentation – The Issues

9.3 Documentation – What the Regulators Say

9.4 Documentation – What Practitioners Say

9.5 Documentation – What the Standards Say

9.6 ISA 501 on Additional Considerations for Specific Items – The Issues

9.7 Inventory – What the Regulators Say

9.8 Inventory – What Practitioners Say

9.9 ISA 510 on Initial Engagements and Opening Balances – The Issues

9.10 Initial Engagements – What the Regulators Say

9.11 Initial Engagements – What Practitioners Say

9.12 Initial Engagements – What the Standards Say

9.13 ISA 530 on Audit Sampling – The Issues

9.14 Audit Sampling – What the Regulators Say

9.15 Audit Sampling – What Practitioners Say

9.16 Audit Sampling – What the Standards Say

9.17 ISA 540 on Accounting Estimates – The Issues

9.18 Accounting Estimates – What the Regulators Say

9.19 Accounting Estimates – What Practitioners Say

9.20 Accounting Estimates – What the Standards Say

9.21 ISA 560 on Subsequent Events – The Issues

9.22 Subsequent Events – What the Regulators Say

9.23 Subsequent Events – What Practitioners Say

9.24 Subsequent Events – What the Standards Say

Index

End User License Agreement

List of Illustrations

Figure 1.1

Figure 1.2 Ten top tips for cost-effective smaller and less complex audits

Figure 4.1

Figure 4.2

Figure 4.3

Figure 4.4

Figure 4.5

Figure 4.6

Figure 5.1

Figure 5.2

Figure 6.1

Figure 6.2

Figure 7.1

Figure 7.2

Figure 8.1

Figure 8.2

Figure 9.1

List of Tables

Table 4.1 What Auditors Need to Understand, Why it Matters, and What Might Not Matter

Table 4.2

Table 4.3 Standard Forms Used in Understanding the Entity: Advantages and Disadvantages

Table 7.1

Table 8.1 Financial Significance

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Guide

Cover

Table of Contents

Begin Reading

Core Auditing Standards for Practitioners

Katharine Bagshaw

John Selwood

This edition first published 2014

© 2014 Katharine Bagshaw and John Selwood

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ISBN 978-1-118-70711-1 (pbk); ISBN 978-1-118-70709-8 (ebk);

ISBN 978-1-118-70706-7 (ebk)

INTRODUCTION

WHY READ THIS BOOK?

Good quality, smaller ISA audits are conducted all over the world, profitably

The sole aim of this book is to help auditors perform more efficient and effective ISA audits. While the focus of the technical material in this book is on the requirements of the ISAs, the overriding objective is always to help auditors perform audits in a manner that promotes cost-effectiveness, efficiency and a high level of audit quality in equal measure.

We believe that there is a strong link between audit quality, and efficient and cost-effective audits. We believe that audit firms performing the best audits are often the most profitable, and that firms with audit quality issues are rarely performing profitable audits.

Dispelling the myth that quality and cost-effectiveness are mutually exclusive is important to us. Some, possibly many, practitioners take the view that audit quality and the maintenance of technical standards are little more than a cost to be minimised. We beg to differ. When time spent gaining a better understanding of core auditing standards is seen more as an investment than a cost, it not only enables auditors to perform more cost-effective audits, it also makes them better auditors.