Auditing: A Business Risk Approach

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Cengage Learning, Jun 17, 2009 - Business & Economics - 960 pages
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The auditing environment continues to change in dramatic ways, and new professionals must be prepared for a high standard of responsibility. Prepare your students for these changes by using the new decision-making framework in Rittenberg/Johnstone/Gramling’s AUDITING: A BUSINESS RISK APPROACH, 7th EDITION. With the help of new author Audrey Gramling, AUDITING 7e explains the importance of understanding business risk, internal controls, and the professional judgment processes. The latest edition keeps your students in touch with today’s rapidly changing environment by describing updates in the regulatory environment, such as Section 404 of the Sarbanes-Oxley Act. The authors have also expanded the coverage on the integrated audit. In addition, students will gain valuable experience by using the professional ACL auditing software, packaged with each new text, as they work with fraud cases. AUDITING 7e helps your students understand the risk associated with auditing in a relevant way.
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Excelent book highly recommended, good examples and also extensive explanations.

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This book assumes a base of accounting knowledge that may not co-inside with your schools prerequisites. The multiple choice questions are tricky and when the professor uses the exam questions that come with the text, expect questions that are very specific to issues very briefly mentioned. Such as a question on a topic which the text gives two sentences on, one being "beyond the scope of this text". There is no glossary in the back you have to look after each chapter for terms, and the Index is poor.
The book itself is dry, but that may be more the topic then the writing.
 

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About the author (2009)

Larry E. Rittenberg, Ph.D., CPA, CIA, is Professor Emeritus, Department of Accounting and Information Systems, at the University of Wisconsin, Madison, where he taught courses in auditing, risk management, and corporate governance. He is also Chair Emeritus of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), where he has provided oversight of the development of the COSO Enterprise Risk Management Framework as well as the COSO Guidance for Smaller Businesses. He has served as Vice-Chair of Professional Practices for the Institute of Internal Auditors (IIA) and President of the IIA Research Foundation; and has been a member of the Auditing Standards Committee of the AAA Auditing Section, the AICPA's Computer Audit Subcommittee, the Information Technology Committee, the NACD Blue Ribbon Commission on Audit Committees; and Vice-President and Treasurer of the American Accounting Association. He is a member of an audit committee, board, and governance committee of Woodward Governor, a publicly traded company, and has consulted on audit committee, risk, and control issues with the largest public company in China. More recently, he has been named as one of the seven members of the International Oversight Council for Professional Practice of the IIA. Professor Rittenberg served as staff auditor for Ernst and Young and has co-authored five books and monographs, and numerous articles.

Karla M. Johnstone, Ph.D., CPA, is an Associate Professor of Accounting and Information Systems at the University of Wisconsin, Madison. She teaches auditing, and her research investigates auditor decision making, including auditors' client acceptance and continuance decisions, how fraud risk and fraud brainstorming affects audit planning and audit fees, client-auditor negotiation, and audit budget-setting processes. She has also published various articles on accounting curriculum effectiveness. Professor Johnstone serves on the editorial boards of several academic journals and is active in the Auditing Section of the American Accounting Association, currently serving on the Executive Committee in the role of Treasurer. She has worked in practice as a corporate accountant, a staff auditor, and was a doctoral fellow in residence at Coopers and Lybrand.

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