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More About This Title Core Auditing Standards for Practitioners +website
English
This comprehensive, practical, and theoretical guide covers the key ISAs that underpin audit methodologies and the recently revised ISAs that cause practitioners the most concern. It is designed to enhance auditors' understanding of critical ISAs, reducing their dependence on methodologies to mediate and explain ISA requirements. Using plenty of examples, the book helps audit staff learn to tailor audit methodologies and remove redundancies, as well as form high-quality judgments with a thorough grounding in ISA to serve in discussions with file reviewers and audit inspectors.
- Features practical examples that appeal to auditors with technical responsibilities
- Covers key topics such as smaller audits, management override of controls, documenting judgments, and dealing with accounting estimates and written presentations
- Ideal for practitioners in companies and accounting firms, as well as auditing students
- Includes access to a companion website with constantly updating ISAs and case studies
Mixing theory with practical examples, Core Auditing Standards for Practitioners provides experienced audit staff with key ISA-related information they need to succeed.
English
Katharine Bagshaw, London, UK has 20 years of experience as a technical specialist in ISAs and wrote some of the first UK training materials on ISAs in the mid-1990s. Since 2000, Katharine has worked for ICAEW's Audit and Assurance Faculty with responsibility for ICAEW's extensive ISA Implementation program. She is currently Secretary to its ISA Implementation group and to ICAEW's PCAOB Panel. She is also Technical Adviser to a UK representative on IFAC's SMP Committee and has written numerous articles for the professional press.
John Selwood, Canterbury, UK is a Chartered Accountant and independent training consultant, who lectures for major accountancy practices, professional bodies, training companies and publishers. He speaks on money laundering, company law, auditing and financial reporting and is a well-known on face the lecture circuit. He is a member of ICAEW’s Audit and Assurance Faculty's Practitioner Services Committee and has been involved with presenting and writing the material for the Audit & Assurance and Financial Reporting Faculty's roadshows for almost a decade. He writes regularly for Audit & Beyond.
English
Introduction 1
1 Smaller Entity Audits 5
1.1 The Issues 5
1.2 What the Regulators Say 7
1.3 What Practitioners Say 7
1.4 What the Standards Say 8
2 Materiality 19
2.1 The Issues 19
2.2 What the Regulators Say 20
2.3 What Practitioners Say 22
2.4 What the Standards Say 24
3 Related Parties 37
3.1 The Issues 37
3.2 What the Regulators Say 40
3.3 What Practitioners Say 41
3.4 What the Standards Say 44
4 Get This Right and the Rest Falls into Place: Understanding the Entity and Assessing Risk 47
4.1 The Issues 47
4.2 What the Regulators Say 51
4.3 What Practitioners Say 53
4.4 What the Standards Say 55
5 Really Efficient Audits: What Sort of Evidence Do I Really Need? 83
5.1 The Issues 83
5.2 What the Regulators Say 84
5.3 What Practitioners Say 85
5.4 What the Standards Say 87
6 Fraud 99
6.1 The Issues 99
6.2 What the Regulators Say 103
6.3 What Practitioners Say 105
6.4 What the Standard Says 112
7 Communications with Those Charged with Governance 121
7.1 The Issues 121
7.2 What the Regulators Say 125
7.3 What Practitioners Say 126
7.4 What the Standard Says 126
8 Group Audits 141
8.1 The Issues 141
8.2 What the Regulators Say 143
8.3 What Practitioners Say 146
8.4 What the Standards Say 150
9 Other Things Good Auditors Need to Know About ISAs 159
9.1 Other Good Things – The Issues 159
9.2 ISA 230 on Documentation – The Issues 159
9.3 Documentation – What the Regulators Say 160
9.4 Documentation – What Practitioners Say 160
9.5 Documentation – What the Standards Say 161
9.6 ISA 501 on Additional Considerations for Specific Items – The Issues 164
9.7 Inventory – What the Regulators Say 164
9.8 Inventory – What Practitioners Say 164
9.9 ISA 510 on Initial Engagements and Opening Balances – The Issues 168
9.10 Initial Engagements – What the Regulators Say 168
9.11 Initial Engagements – What Practitioners Say 168
9.12 Initial Engagements – What the Standards Say 169
9.13 ISA 530 on Audit Sampling – The Issues 170
9.14 Audit Sampling – What the Regulators Say 170
9.15 Audit Sampling – What Practitioners Say 170
9.16 Audit Sampling – What the Standards Say 171
9.17 ISA 540 on Accounting Estimates – The Issues 173
9.18 Accounting Estimates – What the Regulators Say 173
9.19 Accounting Estimates – What Practitioners Say 174
9.20 Accounting Estimates – What the Standards Say 174
9.21 ISA 560 on Subsequent Events – The Issues 181
9.22 Subsequent Events – What the Regulators Say 181
9.23 Subsequent Events – What Practitioners Say 181
9.24 Subsequent Events – What the Standards Say 181
Index 185
