Auditing and Assurance Services, Global Edition

Series
Pearson
Author
Alvin A. Arens / Randal J. Elder / Mark S. Beasley / Chris E. Hogan  
Publisher
Pearson
Cover
Softcover
Edition
16
Language
English
Total pages
888
Pub.-date
May 2016
ISBN13
9781292147871
ISBN
1292147873
Related Titles


Product detail

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Alternative title

Product Edition Date Price CHF Available
9781292311982
Auditing and Assurance Services, Global Edition
17 September 2019 93.20

Description

For the core auditing course for accounting majors.

 

An Integrated, Up-to-Date Approach to Auditing and Assurance Services

Comprehensive and up-to-date, including discussion of new standards, codes, and concepts, Auditing and Assurance Services: An Integrated Approach presents an integrated concepts approach to auditing that details the process from start to finish. Based on the author’s belief that the fundamental concepts of auditing center on the nature and amount of evidence that auditors should gather in specific engagements, the text’s primary objective is to illustrate auditing concepts using practical examples and real-world settings.

 

The Sixteenth Edition remains up-to-date with examples of key real-world audit decisions and an emphasis on audit planning, risk assessment processes, and collecting and evaluating evidence in response to risks.

 

MyAccountingLab® not included. Students, if MyAccountingLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyAccountingLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.


MyAccountingLab is an online homework, tutorial, and assessment product designed to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts.

Features

This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content, which is especially relevant to students outside the United States.

 

About the Book

 

Comprehensive, Integrated, and Up-to-date

  • UPDATED! Several chapters have been updated to reflect important developments related to auditing, including:
    • Chapter 1, which introduces the importance of considering developments in international auditing standards.
    • Chapter 2, which discusses the role of the International Auditing and Assurance Standards Board (IAASB) in the issuance of international standards on auditing (ISAs) and the Auditing Standards Board’s efforts to converge U.S. standards to international standards.
    • Chapter 3, which highlights implications for auditor reports on companies reporting under International Financial Reporting Standards (IFRS).
    • Several chapters throughout the book include text or mid-chapter vignette coverage of international issues, and international issues are also addressed in homework problems.
  • NEW! Coverage of the AICPA Clarity Project and new PCAOB standards has been added, including Standard No. 18, Related Parties.
  • UPDATED! Coverage of the revised AICPA Code of Professional Conduct, which was recently aligned with international standards, has been added.
  • REVISED! Discussion of auditor judgment and professional skepticism has been expanded, including material in Chapters 6 and 10. The text discusses the importance of a questioning mindset and the need to critically evaluate audit evidence to strengthen awareness of the elements of effective professional skepticism.
  • NEW! Discussion of the requirements of the Sarbanes–Oxley Act of 2002 and the PCAOB Auditing Standard 5 (AS 5) that impact accelerated filer public companies has been added, and the risk assessment standards issued by the Auditing Standards Board are integrated throughout the text.
  • NEW! Chapter 23 addresses issues associated with auditing financial instruments and obtaining sufficient appropriate audit evidence for fair value account estimates.
  • REVISED! Expanded coverage of service organization control (SOC) reports issued by service center auditors is included. Both Chapters 10 and 25 reflect the new guidance for service auditors reporting on internal controls at service organizations, including coverage of the different types of reports provided in SOC 1, SOC 2, and SOC 3 engagements.
  • NEW! Chapter 25 describes a new type of nonattest engagement service and distinguishes it from compilation and review engagement requirements.

 

Helpful Pedagogical Features and Design Choices

  • NEW! Concept Checks within each chapter highlight short-answer questions to help students recap content covered within different sections of the chapter.
  • REVISED! End-of-chapter homework material for all chapters has been significantly revised. In partnership with Becker CPA Review, new multiple-choice problems from their CPA exam preparation materials have been included. These problems, which are included in all 26 chapters, are labeled with the Becker logo. Additionally, each chapter identifies new or revised Discussion Questions and Problems that instructors can use in class to generate discussion about important topics addressed in each chapter. Each chapter also identifies homework problems that require students to research standards and other material using the Internet.
  • NEW! Selected problems using ACL have been included in several chapters. These problems allow students to see how audit software is used to perform specific types of audit tests. Additional guidance for students on the use of ACL is included both on the text website and as an appendix to the text.
  • NEW! The annual report for the Hillsburg Hardware Company is included as a four-color insert to the text. Financial statements and other information included in the annual report are used in examples throughout the text to illustrate chapter concepts.
  • REVISED! The Pinnacle Manufacturing integrated case has been revised and expanded to consist of seven parts included at the end of the chapter to which that part relates. Each part of the case is designed to give students hands-on experience, and is connected to allow students to gain a better understanding of how the parts of the audit are integrated by the audit process.
  • An increased use of bullets and numbering, and a larger font size appeal to visual learners, make the text easier to read, and help students focus on and retain key concepts.
  • Mid-chapter vignettes utilize international examples and emphasize fraud and current auditing issues.

 

 

MyAccountingLab® not included. Students, if MyAcountingLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyAccountingLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

  • NEW! Multiple Choice Questions from Becker’s CPA Exam Review. Sample problems, assignable in MyAccountingLab, provide an introduction to the CPA Exam format and an opportunity for early practice for students, with CPA exam–style questions.
  • UPDATED! HTML5 Player. In addition to matching the Flash player’s support of Accessibility requirements, the HTML5 player has a new “Show Work” feature to allow students to enter text either from a keyboard or stylus and to draw freehand on different backgrounds, such as a coordinate graph, with multiple fonts and colors. Students can also continue to upload images such as phone-photos of handwritten work. Printing enhancements include:
    • a more pen-and-paper-friendly layout of exercises
    • the ability for instructors to choose whether to print the header; to include an honor statement; and to print with answers inline, after each question, or on a separate sheet
  • Reporting Dashboard. View, analyze, and report learning outcomes clearly and easily, and get the information you need to keep your students on track throughout the course, with the new Reporting Dashboard. Available via the MyAccountingLab Gradebook and fully mobile-ready, the Reporting Dashboard presents student performance data at the class, section, and program levels in an accessible, visual manner.
  • Learning CatalyticsGenerate class discussion, guide your lecture, and promote peer-to-peer learning with real-time analytics. MyAccountingLab & Mastering with eText now provides Learning Catalytics–an interactive student response tool that uses students’ smartphones, tablets, or laptops to engage them in more sophisticated tasks and thinking. Instructors, you can:
    • Pose a variety of open-ended questions that help your students develop critical thinking skills
    • Monitor responses to find out where students are struggling
    • Use real-time data to adjust your instructional strategy and try other ways of engaging your students during class
    • Manage student interactions by automatically grouping students for discussion, teamwork, and peer-to-peer learning
  • UPDATED! Discussion Board has a new design including a new nested layout and the ability to filter by Read/Unread, Date, and Name.
  • Mobile Player. Students and instructors will be able to access multimedia resources and complete assessments right at their fingertips, on any mobile device. Highlights of Pearson's MyAccountingLab Mobile Player:
    • Works on mobile devices and tablets, as well as laptop and desktop computers
    • Fresh and intuitive design
    • Compatible with browser-based magnification settings

New to this Edition

About the Book

 

Comprehensive, Integrated, and Up-to-date

  • UPDATED! Several chapters have been updated to reflect important developments related to auditing, including:
    • Chapter 1, which introduces the importance of considering developments in international auditing standards.
    • Chapter 2, which discusses the role of the International Auditing and Assurance Standards Board (IAASB) in the issuance of international standards on auditing (ISAs) and the Auditing Standards Board’s efforts to converge U.S. standards to international standards.
    • Chapter 3, which highlights implications for auditor reports on companies reporting under International Financial Reporting Standards (IFRS).
    • Several chapters throughout the book include text or mid-chapter vignette coverage of international issues, and international issues are also addressed in homework problems.
  • Coverage of the AICPA Clarity Project and new PCAOB standards has been added, including Standard No. 18, Related Parties.
  • UPDATED! Coverage of the revised AICPA Code of Professional Conduct, which was recently aligned with international standards, has been added.
  • REVISED! Discussion of auditor judgment and professional skepticism has been expanded, including material in Chapters 6 and 10. The text discusses the importance of a questioning mindset and the need to critically evaluate audit evidence to strengthen awareness of the elements of effective professional skepticism.
  • Discussion of the requirements of the Sarbanes—Oxley Act of 2002 and the PCAOB Auditing Standard 5 (AS 5) that impact accelerated filer public companies has been added, and the risk assessment standards issued by the Auditing Standards Board are integrated throughout the text.
  • Chapter 23 addresses issues associated with auditing financial instruments and obtaining sufficient appropriate audit evidence for fair value account estimates.
  • REVISED! Expanded coverage of service organization control (SOC) reports issued by service center auditors is included. Both Chapters 10 and 25 reflect the new guidance for service auditors reporting on internal controls at service organizations, including coverage of the different types of reports provided in SOC 1, SOC 2, and SOC 3 engagements.
  • Chapter 25 describes a new type of nonattest engagement service and distinguishes it from compilation and review engagement requirements.

 

Helpful Pedagogical Features and Design Choices

  • Concept Checks within each chapter highlight short-answer questions to help students recap content covered within different sections of the chapter.
  • REVISED! End-of-chapter homework material for all chapters has been significantly revised. In partnership with Becker CPA Review, new multiple-choice problems from their CPA exam preparation materials have been included. These problems, which are included in all 26 chapters, are labeled with the Becker logo. Additionally, each chapter identifies new or revised Discussion Questions and Problems that instructors can use in class to generate discussion about important topics addressed in each chapter. Each chapter also identifies homework problems that require students to research standards and other material using the Internet.
  • Selected problems using ACL have been included in several chapters. These problems allow students to see how audit software is used to perform specific types of audit tests. Additional guidance for students on the use of ACL is included both on the text website and as an appendix to the text.
  • The annual report for the Hillsburg Hardware Company is included as a four-color insert to the text. Financial statements and other information included in the annual report are used in examples throughout the text to illustrate chapter concepts.
  • REVISED! The Pinnacle Manufacturing integrated case has been revised and expanded to consist of seven parts included at the end of the chapter to which that part relates. Each part of the case is designed to give students hands-on experience, and is connected to allow students to gain a better understanding of how the parts of the audit are integrated by the audit process.

 

MyAccountingLab® not included. Students, if MyAccountingLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyAccountingLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

  • Multiple Choice Questions from Becker’s CPA Exam Review. Sample problems, assignable in MyAccountingLab, provide an introduction to the CPA Exam format and an opportunity for early practice for students, with CPA exam—style questions.
  • UPDATED! HTML5 Player. In addition to matching the Flash player’s support of Accessibility requirements, the HTML5 player has a new “Show Work” feature to allow students to enter text either from a keyboard or stylus and to draw freehand on different backgrounds, such as a coordinate graph, with multiple fonts and colors. Students can also continue to upload images such as phone-photos of handwritten work. Printing enhancements include:
    • a more pen-and-paper-friendly layout of exercises
    • the ability for instructors to choose whether to print the header; to include an honor statement; and to print with answers inline, after each question, or on a separate sheet
  • UPDATED! Discussion Board has a new design including a new nested layout and the ability to filter by Read/Unread, Date, and Name.

Table of Contents

  1. The Demand for Audit and Other Assurance Services
  2. The CPA Profession
  3. Audit reports
  4. Professional Ethics
  5. Legal Liability
  6. Audit Responsibilities and Objectives
  7. Audit Evidence
  8. Audit Planning and Analytical Procedures
  9. Materiality and Risk
  10. Internal Control, Control Risk, and Section 404 Audits
  11. Fraud Auditing
  12. The Impact of Information Technology on the Audit Process
  13. Overall Audit Strategy and Audit Program
  14. Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions
  15. Audit Sampling for Tests of Controls and Substantive Tests of Transactions
  16. Completing the Tests in the Sales and Collection Cycle: Accounts Receivable
  17. Audit Sampling for Tests of details of Balances
  18. Audit of the Acquisition and Payment Cycle: Tests of Controls, Substantive Tests of Transactions, and Accounts Payable
  19. Completing the Tests in the Acquisition and Payment Cycle: Verification of Selected Accounts
  20. Audit of the Payroll and Personnel Cycle
  21. Audit of the Inventory and Warehousing Cycle
  22. Audit of the Capital Acquisition and Repayment
  23. Audit of Cash and Financial Instruments
  24. Completing the Audit
  25. Other Assurance Services
  26. Internal and Governmental Financial Auditing and Operations Auditing