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Audit and Assurance Essentials: For Professional Accountancy Exams, + Website

Book Description

An accessible beginner's guide to the fundamentals of audit and assurance

Audit and assurance is a basic and vital aspect of the financial world and a key element of all professional accountancy programs. Whereas professional training on the topic frequently immerses students in too much detail while glossing the basics, this book begins with the fundamentals and expands to cover the details in a more measured way. With practical examples and end-of-chapter examples, External Audit and Assurance Essentials breaks down a difficult and challenging field of professional accounting.

Table of Contents

  1. Cover
  2. Contents
  3. Title
  4. Copyright
  5. Dedication
  6. Introduction
  7. Chapter 1: Auditors, Audits and Other Types of Assurance and Passing the Exam First Time
    1. 1.1 The Need for Audit and Other Types of Assurance
    2. 1.2 Passing the Exam First Time
  8. Chapter 2: Taking on Professional Work and Maintaining Standards
    1. 2.1 Introduction to Professional Standards
    2. 2.2 Fundamental Principles, Threats and Safeguards
    3. 2.3 Changes in a Professional Appointment
    4. 2.4 Obtaining Professional Work
    5. 2.5 Professional Ethics: Fees
    6. 2.6 Professional Ethics: Conflicts of Interest and Hospitality
    7. 2.7 Professional Ethics: Independence and Objectivity
    8. 2.8 Appointing and Removing Auditors
    9. 2.9 Agreeing Engagement Terms
  9. Chapter 3: Housekeeping: Planning, Materiality and Documentation
    1. 3.1 Planning
    2. 3.2 Materiality
    3. 3.3 Audit Documentation
  10. Chapter 4: The Core of the Audit
    1. 4.1 Risk Assessments
    2. 4.2 Audit Evidence
    3. 4.3 Responding to Risk
    4. 4.4 Audit Tools
    5. 4.5 More Audit Tools: Using the Work of Others
    6. 4.6 Related Parties, Initial Engagements, Opening Balances and Comparative Information
  11. Chapter 5: Corporate Governance, Professional Liability, Regulation and Other Current Issues
    1. 5.1 Corporate Governance
    2. 5.2 Professional Liability, Regulation and Other Current Issues
  12. Chapter 6: Audit Reporting
    1. 6.1 Audit Finalisation
    2. 6.2 Modified and Unmodified Audit Opinions
    3. 6.3 Emphasis of Matter and Other Matter Paragraphs, Going Concern
    4. 6.4 Communications with Management and those Charged with Governance
    5. 6.5 Other Information
  13. Chapter 7: Fraud, Money Laundering, Forensic Accounting, Financial Instruments
    1. 7.1 Fraud: Auditors’ Responsibilities
    2. 7.2 Laws and Regulations: Auditors’ Responsibilities
    3. 7.3 Money Laundering
    4. 7.4 Forensic Accounting
    5. 7.5 Financial Instruments
  14. Chapter 8: The Wider Framework: Assurance, Other Engagements, Audit Quality and Quality Control
    1. 8.1 International Standards
    2. 8.2 Overall Objectives of Audits, the Framework For Assurance Engagements, ISAE 3000
    3. 8.3 Audit Quality and Quality Control
  15. Chapter 9: Smaller Entity Audits, Reviews, Compilations, Agreed-Upon Procedures Engagements, Not-For-Profit Engagements
    1. 9.1 Smaller Entity Audits
    2. 9.2 Overview of Reviews, Agreed-Upon Procedures and Compilation Engagements
    3. 9.3 Review Engagements
    4. 9.4 Compilation Engagements
    5. 9.5 Agreed-Upon Procedures Engagements
    6. 9.6 Not-For-Profit Engagements
  16. Chapter 10: Other Assurance Engagements
    1. 10.1 Introduction to Other Assurance Engagements
    2. 10.2 Assurance or Agreed-Upon Procedures: Key Performance Indicators
    3. 10.3 Social and Environmental Reporting and ISAE 3410 Assurance Engagements of Greenhouse Gas Statements
    4. 10.4 Prospective Financial Information
    5. 10.5 ISAE 3420 Reporting on the Compilation of Pro-Forma Financial Information in Prospectuses
  17. IAASB Standards and Related Guidance Covered in This Publication
  18. Answers
  19. Abbreviations
  20. Index