Auditing: An International ApproachAuditing: An International Approach (formerly titled Auditing and Other Assurance Engagements) presents a comprehensive, balanced, and current introduction to the auditing field. This text bridges the gap between students' knowledge of accounting principles and the professional practice of accounting and auditing in the working world. Emphasizing a 'cycles' approach, the book covers the financial auditor's decision-making process:1) problem recognition and developing audit objectives,2) evidence collection with audit procedures, and3) making judgements about control risk and the fair presentation of financial statement assertions.Building on the strengths of the first Canadian and former U.S. editions, the authors reflect exciting challenges inherent to current auditing practice and other assurance services. As the revised title suggests, the second edition of this best-selling text has kept pace with the growing importance of International Accounting Standards in the context of Canadian business world. |
Common terms and phrases
accepted accounting principles accepted auditing standards account balances accounting system accounts payable accounts receivable AICPA amount analytical procedures appropriate assets assurance engagements audit evidence audit program audit report audit risk auditor's report balance sheet bank basis cash receipts Chapter CHECKPOINTS cheques CICA client company's confirmation control objectives control procedures control risk assessment cost cycle December 31 detect determine disclosure documents employees engagement letter enquiry errors evaluation example Exhibit expense financial statement assertions financial statements firm flowchart forecast fraud GAAP Handbook Section identify income internal control inventory investment LEARNING OBJECTIVE liabilities management's material misstatement ments obtain operations opinion papers paragraph payroll percent performed personnel planning prepared processing production professional public accounting purchase quality control records Required responsibility revenue sales invoices specific substantive procedures test of controls tion transactions trial balance unqualified valuation Vouch year-end