Auditing For Dummies

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John Wiley & Sons, Jun 8, 2010 - Business & Economics - 384 pages
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The easy way to master the art of auditing

Want to be an auditor and need to hone your investigating skills? Look no further. This friendly guide gives you an easy-to-understand explanation of auditing — from gathering financial statements and accounting information to analyzing a client's financial position. Packed with examples, it gives you everything you need to ace an auditing course and begin a career today.

  • Auditing 101 — get a crash course in the world of auditing and a description of the types of tasks you'll be expected to perform during a typical day on the job
  • It's risky business — find out about audit risk and arm yourself with the know-how to collect the right type of evidence to support your decisions
  • Auditing in the real world — dig into tons of sample business records to perform your first audit
  • Focus on finances — learn how both ends of the financial equation — balance sheet and income statement — need to be presented on your client's financial statements
  • Seal the deal — get the lowdown on how to wrap up your audit and write your opinion
  • After the audit — see the types of additional services that may be asked of you after you've issued your professional opinion
 

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Contents

Introduction
1
Completing the Audit 297
5
Getting an Auditing Initiation
7
Taking Auditing into Account
9
The Role of Auditing in Public Accounting
21
Understanding Professional Standards and Ethics
33
Performing the Initial Auditing Steps
45
Assessing Audit Risk
67
The Purchasing Process Auditing How a Business Spends Money 181 Chapter 11 The Human Resources Process Auditing Personnel Practices
201
Inventory Management Auditing How a Business Manages
219
Focusing on a Clients Finances
239
Auditing LongTerm Liabilities and Stockholder Equity
261
Auditing Cash and Investments
283
Completing the Audit
297
Performing Final Due Diligence
299
Wrapping It Up Issuing the Report
313

Collecting and Documenting Audit Evidence
91
Auditing a Clients Internal Controls
111
Sampling the Records
133
Auditing How a Client Conducts Business
153
The Purchasing Process Auditing How a Business
181
The Spectrum of Engagement Services
325
Ten Procedures to Obtain Audit Evidence
341
Index
349
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About the author (2010)

Maire Loughran is a self-employed certified public accountant (CPA) who has prepared compilation, review, and audit reports for fifteen years. Additionally, she is a university professor of undergraduate- and graduate-level accounting classes.

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