TAILIEUCHUNG - Ebook Auditing and assurance services (15th edition): Part 2

(BQ) Part 1 book "Auditing and assurance services" has contents: Materiality and risk, fraud auditing, the impact of information technology on the audit process, overall audit strategy and audit program, audit sampling for tests of controls and substantive tests of transactions, audit sampling for tests of details of balances, audit of cash and financial instruments,.and other contents. | CHAPTER MATERIALITY AND RISK Explain To Me One More Time That You Did A Good Job, But The Company Went Broke Maxwell Spencer is a senior partner in his firm, and one of his regular duties is to attend the firm’s annual training session for newly hired auditors. He loves doing this because it gives him a chance to share his many years of experience with inexperienced people who have bright and receptive minds. He covers several topics formally during the day and then sits around and “shoots the breeze” with participants during the evening hours. Here we listen to what he is saying. Suppose you are a retired 72-year-old man. You and your wife, Sarah, m live on your retire­ ent fund which you elected to manage yourself, rather than receive income from an annuity. You decide that your years in business prepared you with the ability to earn a better return than the annuity would provide. So when you retired and got your bundle, you called your broker and discussed with him what you should do with it. He tells you the most important thing is to protect your principal and recommends that you buy bonds. You settle on three issues that your broker and his firm believe are good ones, with solid balance sheets: (1) an innovative natural gas distribution company, (2) a fast-growing telecom company, and (3) a large national cable company. Now all you have to do is sit back and collect your interest. 9 LEAR N I N G O B J ECTIVES After studying this chapter, you should be able to 9-1 Apply the concept of materiality to the audit. 9-2 Make a preliminary judgment about what amounts to consider material. 9-3 Determine performance materiality during planning. 9-4 Use materiality to evaluate audit findings. 9-5 Define risk in auditing. 9-6 Describe the audit risk model and its components. 9-7 Consider the impact of engagement risk on acceptable audit risk. 9-8 Consider the impact of several factors on the assessment of inherent risk. 9-9 Discuss the .

• Kinh tế học
• Assurance services
• Fraud auditing
• The audit process
• Overall audit strategy
• Audit sampling
• Financial instruments
• Completing the audit
• Nonassurance services
• Assurance services profession
• Auditing services
• Audit process
• Assurance framework
• Accounting information
• Financial statement audit
• Auditing and assurance services
• Auditing environment
• Professional standards
• Auditing standards
• Financial statement auditing
• Auditing business processes
• Auditing internal control
• Internal auditing services
• Contemporary auditing environment
• Attestation engagements
• Account balances
• Structure of the profession
• Audit firms
• Corporate governance
• Professional ethics
• Legal liability
• Liability to clients
• Financial repport audit process
• Financial report assertions
• The business
• Strategic business risk
• Inherent risk assessment
• Inherent risk
• Internal control structure
• Assessing control risk
• Tests of controls
• Sales cycle
• Substantive tests
• Substantive tests of transactions
• Sampling theory
• Adjusting events
• Financial report
• Auditor’s reporting obligations
• Professional reporting obligations
• Prospective financial information
• Highlight information
• Institute of internal auditors
• Government accounting
• Reporting duties