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Auditing and assurance services








Auditing and assurance services: an integrated approach
Buku ini diterbitkan tahun 2012  oleh  Pearson Education, Inc. New Jersey,  merupakan buku edisi Empat belas.



Judul:  Auditing and assurance services: an integrated approach
Oleh:  Alvin A. Arens, et al
Penerbit:  Pearson Education, Inc. New Jersey
Tahun: 2012
Jumlah Halaman:  889  hal.

Penulis:

ALVIN A. ARENS
PricewaterhouseCoopers
Emeritus Professor
Michigan State University
RANDAL J. ELDER
Syracuse University
MARK S. BEASLEY
North Carolina State University
Deloitte Professor of Enterprise Risk Management

Lingkup Pembahasan:
Buku ini bertujuan untuk mengintegrasikan konsep diakui konsep audit paling penting yang diakui secara internasional secara logis untuk membantu siswa dalam memahami pengambilan keputusan audit dan akumulasi bukti dalam kompleks, audit global saat ini lingkungan Hidup. Misalnya, perkembangan yang terkait dengan audit internasional dan isu-isu yang mempengaruhi audit dalam lingkungan global dan ekonomi stabil dijelaskan dalam seluruh buku dan ditekankan dalam memilih sketsa pertengahan bab dan masalah pekerjaan. Konsep-konsep kunci terkait dengan penilaian risiko ditekankan dalam standar yang dikeluarkan oleh Auditing Standards Board (ASB) and the International Auditing and Assurance Standards Board (IAASB) yang diintegrasikan ke dalam semua bab perencanaan, serta masing-masing bab berurusan dengan siklus transaksi tertentu dan akun terkait. pengendalian internal terkait dengan tes kontrol dan substantif tes transaksi yang dilakukan dalam audit laporan keuangan dan audit terpadu atas laporan keuangan dan pengendalian internal atas pelaporan keuangan, dengan penekanan pada persyaratan Standar Auditing PCAOB. Tes kontrol dan substantif tes transaksi, pada gilirannya, berhubungan dengan tes rincian saldo laporan keuangan untuk wilayah. Audit sampling diterapkan pada evaluasi bukti audit bukan diperlakukan sebagai topik yang terpisah. penilaian risiko, teknologi, penipuan, dan audit pengendalian intern masalah yang terintegrasi di seluruh bab.

Daftar Isi:

PART 1  THE AUDITING PROFESSION HE DEMAND FOR AUDIT AND OTHER ASSURANCE SERVICES
    CHAPTER  1 THE DEMAND FOR AUDIT AND OTHER ASSURANCE SERVICES

        Learning Objectives 3 1
        Nature of Auditing 4
        Distinction Between Auditing and Accounting 6
        Economic Demand for Auditing 6
        Assurance Services 8
        Types of Audits 12
        Types of Auditors 15
        Certified Public Accountant 17
        Summary 18
        Essential Terms 18
        Review Questions 19
        Multiple Choice Questions from CPA Examinations 20
        Discussion Questions and Problems 21
        Internet Problem 1-1: CPA Requirements 24

    Chapter 2 THE CPA PROFESSION
        Learning Objectives 25
        Certified Public Accounting Firms 26
        Activities of CPA Firms 27
        Structure of CPA Firms 28
        Sarbanes–Oxley Act and
        Public Company Accounting Oversight Board 30
        Securities and Exchange Commission 30
        American Institute of Certified Public Accountants (AICPA) 31
        International and U.S. Auditing Standards 32
        Generally Accepted Auditing Standards 34
        Statements on Auditing Standards 36
        Quality Control 37
        Summary 39
        Essential Terms 39
        Review Questions 40
        Multiple Choice Questions from CPA Examinations 41
        Discussion Questions and Problems 42
        Internet Problem 2-1: International Auditing and Assurance Standards Board 44
    Chapter 3 AUDIT REPORTS
        Learning Objectives 45
        Standard Unqualified Audit Report 46
        Report on Internal Control Over Financial Reporting Under Section 404 of the
            Sarbanes–Oxley Act 49
        Unqualified Audit Report with Explanatory Paragraph or Modified Wording 51
        Departures from an Unqualified Audit Report 55
        Materiality 56
        Discussion of Conditions Requiring a Departure 59
        Auditor’s Decision Process for Audit Reports 62
        International Accounting and Auditing Standards 65
        Summary 65
        Essential Terms 66
        Review Questions 66
        Multiple Choice Questions from CPA Examinations 68
        Discussion Questions and Problems 69
        Internet Problem 3-1: Research Annual Reports 74
    Chapter 4  PROFESSIONAL ETHICS
        Learning Objectives 77
        What Are Ethics? 78
        Ethical Dilemmas 79
        Special Need for Ethical Conduct in Professions 82
        Code of Professional Conduct 84
        Independence 87
        Independence Rule of Conduct and Interpretations 90
        Other Rules of Conduct 95
        Enforcement 103
        Summary 103
        Essential Terms 104
        Review Questions 104
        Multiple Choice Questions from CPA Examinations 105
        Discussion Questions and Problems 106
        Cases 109
        Internet Problem 4-1: IESBA Code of Ethics 112
    Chapter 5 LEGAL LIABILITY
        Learning Objectives 113
        Changed Legal Environment 114
        Distinguishing Business Failure, Audit Failure, and Audit Risk 115
        Legal Concepts Affecting Liability 116
        Liability to Clients 118
        Liability to Third Parties Under Common Law 121
        Civil Liability Under the Federal Securities Laws 123
        Criminal Liability 127
        The Profession’s Response to Legal Liability 130
        Protecting Individual CPAs from Legal Liability 130
        Summary 131
        Essential Terms 132
        Review Questions 133
        Multiple Choice Questions from CPA Examinations 133
        Discussion Questions and Problems 135
        Case 139
        Internet Problem 5-1: SEC Enforcement 139
PART 2 THE AUDIT PROCESS
    Chapter 6 AUDIT RESPONSIBILITIES AND OBJECTIVES

        Learning Objectives 141
        Objective of Conducting an Audit of Financial Statements 142
        Management’s Responsibilities 143
        Auditor’s Responsibilities 144
        Financial Statement Cycles 148
        Setting Audit Objectives 152
        Management Assertions 153
        Transaction-Related Audit Objectives 156
        Balance-Related Audit Objectives 158
        Presentation and Disclosure-Related Audit Objectives 161
        How Audit Objectives Are Met 161
        Summary 163
        Essential Terms 164
        Review Questions 165
        Multiple Choice Questions from CPA Examinations 166
        Discussion Questions and Problems 167
        Case 171
        Internet Problem 6-1: International and PCAOB Audit Objectives 172
    Chapter 7 AUDIT EVIDENCE
        Learning Objectives 173
        Nature of Evidence 174
        Audit Evidence Decisions 175
        Persuasiveness of Evidence 176
        Types of Audit Evidence 179
        Audit Documentation 188
        Summary 196
        Essential Terms 196
        Review Questions 197
        Multiple Choice Questions from CPA Examinations 198
        Discussion Questions and Problems 199
        Cases 204
        ACL Problem 206
        Internet Problem 7-1: Use of Audit Software for Fraud Detection and Continuous
            Auditing 206
    Chapter 8 AUDIT PLANNING AND ANALYTICAL PROCEDURES
        Learning Objectives 209
        Planning 210
        Accept Client and Perform Initial Audit Planning 211
        Understand the Client’s Business and Industry 215
        Assess Client Business Risk 220
        Perform Preliminary Analytical Procedures 222
        Summary of the Parts of Audit Planning 223
        Analytical Procedures 223
        Five Types of Analytical Procedures 226
        Common Financial Ratios 230
        Summary 233
        Essential Terms 234
        Review Questions 234
        Multiple Choice Questions from CPA Examinations 236
        Discussion Questions and Problems 237
        Cases 243
        Integrated Case Application — Pinnacle Manufacturing: Part I 245
        ACL Problem 247
                Internet Problem 8-1: Obtain Client Background Information 248
    Chapter 9 MATERIALITY AND RISK
        Learning Objectives 249
        Materiality 250
        Set Preliminary Judgment about Materiality 251
        Allocate Preliminary Judgment about Materiality to Segments (Tolerable Misstatement) 254
        Estimate Misstatement and Compare with Preliminary Judgment 257
        Audit Risk 258
        Audit Risk Model Components 261
        Assessing Acceptable Audit Risk 263
        Assessing Inherent Risk 266
        Relationship of Risks to Evidence and Factors Influencing Risks 268
        Summary 274
        Essential Terms 274
        Review Questions 275
        Multiple Choice Questions from CPA Examinations 276
        Discussion Questions and Problems 278
        Cases 284
        Integrated Case Application — Pinnacle Manufacturing: Part II 287
        Internet Problem 9-1: Materiality and Tolerable Misstatement 288
    Chapter 10 SECTION 404 AUDITS OF INTERNAL CONTROL AND CONTROL RISK
        Learning Objectives 289
        Internal Control Objectives 290
        Management and Auditor Responsibilities for Internal Control 291
        COSO Components of Internal Control 294
        Obtain and Document Understanding of Internal Control 302
        Assess Control Risk 307
        Tests of Controls 312
        Decide Planned Detection Risk and Design Substantive Tests 315
        Section 404 Reporting on Internal Control 315
        Evaluating, Reporting, and Testing Internal Control for Nonpublic Companies 317
        Summary 319
        Essential Terms 320
        Review Questions 322
                Multiple Choice Questions from CPA Examinations 324
        Discussion Questions and Problems 326
        Case 331
        Integrated Case Application — Pinnacle Manufacturing: Part III 332
        Internet Problem 10-1: Disclosure of Material Weaknesses in
        Internal Control Over Financial Reporting 333
    Chapter 11 FRAUD AUDITING
        Learning Objectives 335
        Types of Fraud 336
        Conditions for Fraud 337
        Assessing the Risk of Fraud 341
        Corporate Governance Oversight to Reduce Fraud Risks 345
        Responding to the Risk of Fraud 349
        Specific Fraud Risk Areas 351
        Responsibilities When Fraud is Suspected 356
        Summary 360
        Essential Terms 361
        Review Questions 361
        Multiple Choice Questions from CPA Examinations 362
        Discussion Questions and Problems 363
        Case 368
        Integrated Case Application — Pinnacle Manufacturing: Part IV 369
        ACL Problem 369
        Internet Problem 11-1: Brainstorming About Fraud Risks 370
    Chapter 12 THE IMPACT OF INFORMATION TECHNOLOGY ON THE AUDIT   
    PROCESS
        Learning Objectives 371
        How Information Technologies Improve Internal Control 372
        Assessing Risks of Information Technology 372
        Internal Controls Specific to Information Technology 374
        Impact of Information Technology on the Audit Process 380
        Issues for Different IT Environments 386
        Summary 390
        Essential Terms 390
        Review Questions 392
        Multiple Choice Questions from CPA Examinations 392
        Discussion Questions and Problems 394
        Case 399
        ACL Problem 401
        Internet Problem 12-1: Assessing IT Governance 402
    Chapter 13  OVERALL AUDIT PLAN AND AUDIT PROGRAM
        Learning Objectives 403
        Types of Tests 404
        Selecting Which Types of Tests to Perform 409
        Impact of Information Technology on Audit Testing 412
        Evidence Mix 413
        Design of the Audit Program 414
        Summary of Key Evidence-Related Terms 423
        Summary of the Audit Process 424
       Essential Terms 428
        Review Questions 429
        Multiple Choice Questions from CPA Examinations 430
        Discussion Questions and Problems 431
        Cases 436
        Internet Problem 13-1: Assessing Effects of Evidence Mix 439

PART 3 APPLICATION OF THE AUDIT PROCESS TO THE SALES AND COLLECTION CYCLE
    Chapter 14  AUDIT OF THE SALES AND COLLECTION CYCLE: TESTS OF 

    CONTROLS AND SUBSTANTIVE TESTS OF TRANSACTIONS
        Learning Objectives 441
        Accounts and Classes of Transactions in the Sales and Collection Cycle 442
        Business Functions in the Cycle and Related Documents and Records 443
        Methodology for Designing Tests of Controls and Substantive Tests of Transactions
            for Sales 447
        Sales Returns and Allowances 458
        Methodology for Designing Tests of Controls and Substantive Tests of Transactions for Cash
            Receipts 459
        Audit Tests for the Write-off of Uncollectible Accounts 463
        Additional Internal Controls over Account Balances and Presentation and Disclosure 464
        Effect of Results of Tests of Controls and Substantive Tests of Transactions 464
        Summary 465
        Essential Terms 466
        Review Questions 466
        Multiple Choice Questions from CPA Examinations 467
        Discussion Questions and Problems 469
        Case 474
        Integrated Case Application — Pinnacle Manufacturing: Part V 475
        ACL Problem 476
        Internet Problem 14-1: Revenue Recognition Fraud 476
    Chapter  15 AUDIT SAMPLING FOR TESTS OF CONTROLS AND SUBSTANTIVE 
    TESTS OF TRANSACTIONS
        Learning Objectives 477
        Representative Samples 478
        Statistical Versus Nonstatistical Sampling and Probabilistic Versus Nonprobabilistic Sample
            Selection 479
        Nonprobabilistic Sample Selection Methods 480
        Probabilistic Sample Selection Methods 482
        Sampling for Exception Rates 484
        Application of Nonstatistical Audit Sampling 485
        Statistical Audit Sampling 501
        Sampling Distribution 501
        Application of Attributes Sampling 502
        Summary 507
        Essential Terms 508
        Review Questions 509
        Multiple Choice Questions from CPA Examinations 510
        Discussion Questions and Problems 512
        Case 516
        Integrated Case Application — Pinnacle Manufacturing: Part VI 516
        Internet Problem 15-1: Applying Statistical Sampling 518
    Chapter 16 COMPLETING THE TESTS IN THE SALES AND COLLECTION CYCLE: 
     ACCOUNTS RECEIVABLE
        Learning Objectives 519
        Methodology for Designing Tests of Details of Balances 520
        Designing Tests of Details of Balances 526
        Confirmation of Accounts Receivable 532
        Developing Tests of Details Audit Program 538
        Essential Terms 541
        Review Questions 542
        Multiple Choice Questions from CPA Examinations 543
        Discussion Questions and Problems 544
        Case 550
        Integrated Case Application — Pinnacle Manufacturing: Part VII 551
        ACL Problem 556
        Internet Problem 16-1: Revenue Recognition 556
    Chapter 17 AUDIT SAMPLING FOR TESTS OF DETAILS OF BALANCES
        Learning Objectives 557
        Comparisons of Audit Sampling for Tests of Details of Balances and for Tests of Controls and
              Substantive Tests of Transactions 558
        Nonstatistical Sampling 559
        Monetary Unit Sampling 567
        Variables Sampling 578
        Illustration Using Difference Estimation 583
        Summary 589
        Essential Terms 590
        Review Questions 590
        Multiple Choice Questions from CPA Examinations 592
        Discussion Questions and Problems 593
        Cases 598
        ACL Problem 599
        Internet Problem 17-1: Monetary Unit Sampling Considerations 599

PART 4 APPLICATION OF THE AUDIT PROCESS TO OTHER CYCLES
    Chapter 18 AUDIT OF THE ACQUISITION AND PAYMENT CYCLE: TESTS OF   

    CONTROLS AND SUBSTANTIVE TESTS OF TRANSACTIONS, AND ACCOUNTS 
    PAYABLE
        Learning Objectives 601
        Accounts and Classes of Transactions in the Acquisition and Payment Cycle 602
        Business Functions in the Cycle and Related Documents and Records 603
        Methodology for Designing Tests of Controls and Substantive Tests of Transactions 606
        Methodology for Designing Tests of Details of Balances for Accounts Payable 612
        Summary 620
        Essential Terms 621
        Review Questions 621
        Multiple Choice Questions from CPA Examinations 623
        Discussion Questions and Problems 624
        Case 630
        Internet Problem 18-1: Identifying Accounts Payable Fraud 632
    Chapter 19 COMPLETING THE TESTS IN THE ACQUISITION AND PAYMENT  
    CYCLE: VERIFICATION OF SELECTED ACCOUNTS
        Learning Objectives 633
        Types of Other Accounts in the Acquisition and Payment Cycle 634
        Audit of Property, Plant, and Equipment 634
        Audit of Prepaid Expenses 641
        Audit of Accrued Liabilities 644
        Audit of Income and Expense Accounts 646
        Summary 649
        Essential Terms 650
        Review Questions 650
        Multiple Choice Questions from CPA Examinations 651
        Discussion Questions and Problems 653
        Cases 655
        Internet Problem 19-1: Centerpulse Ltd. Fraud 657
    Chapter 20  AUDIT OF THE PAYROLL AND PERSONNEL CYCLE
        Learning Objectives 659
        Accounts and Transactions in the Payroll and Personnel Cycle 660
        Business Functions in the Cycle and Related Documents and Records 660
        Methodology for Designing Tests of Controls and Substantive Tests of Transactions 664
        Methodology for Designing Tests of Details of Balances 668
        Summary 672
        Essential Terms 673
        Review Questions 673
        Multiple Choice Questions from CPA Examinations 674
        Discussion Questions and Problems 675
        Case 679
        Internet Problem 20-1: Risks of Outsourcing the Payroll Function 680
    Chapter 21 AUDIT OF THE INVENTORY AND WAREHOUSING CYCLE
        Learning Objectives 681
        Business Functions in the Cycle and Related Documents and Records 682
        Parts of the Audit of Inventory 684
        Audit of Cost Accounting 686
        Analytical Procedures 689
        Physical Observation of Inventory 689
        Audit of Pricing and Compilation 693
        Integration of the Tests 697
        Summary 699
        Essential Terms 699
        Review Questions 700
        Multiple Choice Questions from CPA Examinations 701
        Discussion Questions and Problems 702
        Case 708
        Internet Problem 21-1: Using Inventory Count Specialists 710
    Chapter 22  AUDIT OF THE CAPITAL ACQUISITION AND REPAYMENT CYCLE
        Learning Objectives 711
        Accounts in the Cycle 712
        Notes Payable 713
        Owners’ Equity 716
        Summary 723
        Essential Terms 723
        Review Questions 724
        Multiple Choice Questions from CPA Examinations 725
        Discussion Questions and Problems 726
        Internet Problem 22-1: Overview of the NYSE 730
    Chapter 23  AUDIT OF CASH BALANCES
        Learning Objectives 731
        Cash in the Bank and Transaction Cycles 732
        Types of Cash Accounts 734
        Audit of the General Cash Account 735
        Fraud-Oriented Procedures 742
        Audit of the Imprest Payroll Bank Account 746
        Audit of Imprest Petty Cash 747
        Summary 747
        Essential Terms 748
        Review Questions 748
        Multiple Choice Questions from CPA Examinations 749
        Discussion Questions and Problems 750
        Internet Problem 23-1: Check Clearing for the 21st Century Act 755

PART 5  COMPLETING THE AUDIT
    Chapter 24  COMPLETING THE AUDIT

        Learning Objectives 757
        Perform Additional Tests for Presentation and Disclosure 758
        Review for Contingent Liabilities and Commitments 759
        Review for Subsequent Events 764
        Final Evidence Accumulation 767
        Evaluate Results 771
        Issue the Audit Report 776
        Communicate with the Audit Committee and Management 776
        Subsequent Discovery of Facts 778
        Summary 779
        Essential Terms 779
        Review Questions 780
        Multiple Choice Questions from CPA Examinations 781
        Discussion Questions and Problems 783
        Case 787
        Internet Problem 24-1: Audit Committee Responsibilities 787


PART 6  OTHER ASSURANCE AND NONASSURANCE SERVICES
    Chapter 25 OTHER ASSURANCE SERVICES

        Learning Objectives 789
        Review and Compilation Services 790
        Review of Interim Financial Information for Public Companies 795
        Attestation Engagements 796
        WebTrust and SysTrust Services 799
        Reports on Controls at Service Organizations 800
        Prospective Financial Statements 801
        Agreed-Upon Procedures Engagements 803
        Other Audits or Limited Assurance Engagements 804
        Summary 806
        Essential Terms 807
        Review Questions 808
        Multiple Choice Questions from CPA Examinations 809
        Discussion Questions and Problems 810
        Internet Problem 25-1: Accounting and Review Services Committee 81
    Chapter 26 INTERNAL AND GOVERNMENTAL FINANCIAL AUDITING AND 
    OPERATIONAL AUDITING
        Learning Objectives 815
        Internal Financial Auditing 816
        Governmental Financial Auditing 819
        Operational Auditing 821
        Summary 829
        Essential Terms 829
        Review Questions 830
        Multiple Choice Questions from CPA, CIA, and CMA Examinations 831
        Cases 833
        Internet Problem 26-1: Institute of Internal Auditors 837
APPENDIX: ACL INSTALLATION AND INSTRUCTIONS 838
INDEX 843


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