On 1 May 2006, the Auditing and Assurance Standards Board (AUASB) introduced a series of new legally enforceable Australian Auditing Standards (ASAs), effective 1 July 2006. Corporate collapses over the last five years, and subsequent criticisms of the audit role, have necessitated a review of the existing auditing standards to ensure audit quality, return stakeholder confidence in the reputation of the audit process, and reinstate to the profession the core audit qualities of reliability, transparency, trust and integrity. Modern Auditing and Assurance Services 3rd edition reflects the latest developments in the profession, detailing the audit procedures under the 35 legally enforceable ASAs. Further, this edition has been thoroughly revised to present a current coverage of the auditing environment: the increased focus on professional ethics and ethical competence, governance and professional independence, changes in legal liability for the audit profession, local and international regulatory developments, whilst continuing to provide a thorough analysis of contemporary audit practice as well as significant consideration of assurance services beyond the traditional audit. NEW TO THIS EDITION Inclusion and explanation of the requirements under the new legally enforceable Australian Auditing Standards (ASAs). These standards are closely aligned with international auditing standards, which are also included in the text for courses that offer an international perspective. The new Code of Ethics for Professional Accountants released by the Accounting Professional and Ethical Standards Board (APESB) is thoroughly discussed and integrated with auditors' legal requirements. Increased coverage of audit independence and legal liability, with reference to the most recent legislative changes, including the Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004. Full incorporation of the business risk approach to auditing, as reflected in the revised standards on audit risk, as well as significantly expanded consideration of the importance and requirements on auditors to consider fraud in planning the audit. Substantial revision to 'Professional Environment' vignettes throughout the text. These chapter vignettes present relevant, topical audit issues and/or events that contextualise the audit processes presented in the chapter within the business world. A clear but in depth approach to learning the latest development in auditing and assurance with a sharpened focus in chapter 1 and a streamlined chapter 16 on the role of audit in enterprise governance integrated into Part 5 as the final chapter. Succinct summary of audit procedures at the beginning of each transaction cycle to highlight the most importance procedures and key risks in each cycle. FEATURES Professional Statements at the beginning of each chapter state the Australian and International Audit Standards relevant to the chapter. Professional Environment vignettes apply audit events and processes to real business experiences - ideal for developing an appreciation of the professional environment of auditing both locally and globally. Learning Checks, positioned at the end of major sections in the chapter, provide a succinct listing of the key audit issues and processes that the student must know before they proceed further. End-of-chapter exercises and problems have been revised. The majority of the Review Questions and Professional Application Questions are new and drawn from Australian and international professional bodies. Multiple Choice questions at the end of each chapter with correct answers. ABOUT THE AUTHORS Philomena Leung (PhD, M.Acc, F.C.P.A., F.C.C.A., M.I.I.A., A.C.I.S.) is Professor and Head of the School of Accounting, Economics and Finance at Deakin University, Melbourne. She has over 27 years of extensive teaching experience at tertiary and postgraduate levels; specialising in auditing, ethics and corporate governance. Philomena's PhD in Accounting Ethics and her Big Four auditing experience from Hong Kong also provide an insight into issues relevant to the accounting and auditing profession. Philomena has written for a number of academic and professional journals in the areas of auditing, corporate governance, ethics, internal auditing and accounting education. She is also a recipient of a number of research grants and has led / co-authored many research projects in the areas of auditing. Philomena has spoken at many conferences and seminars and is a well sought after speaker in national and international forums and media interviews. She has taken an active role in supporting the development and the reshaping of the profession in Australia and internationally. Paul Coram is a Senior Lecturer in the Department of Accounting and Business Information Systems at the University of Melbourne. He worked as an auditor and became a Chartered Accountant with one of the Big Five firms in Australia, also gaining work experience as an auditor in London. He has an active involvement with the Institute of Chartered Accountants, including acting as a facilitator in the new CA Program, as well as being a member of the Professional Standards Committee. Paul has postgraduate qualifications in education and has lectured at the University of South Australia and in his current position at UWA. He also has a Master of Accounting, which involved a significant research dissertation into the area of audit quality. He has presented his research at a number of local and international conferences. Currently his primary research interest relates to the behavioural effects on users arising from the provision of different levels of assurance services. Dr. Barry J. Cooper is Professor of Accounting Education at RMIT University. After gaining experience as an auditor, Professor Cooper joined RMIT University in 1972 where he taught auditing and financial accounting. In 1987, he joined the Hong Kong Polytechnic as Head of the Department of Accountancy for four years. After returning to Melbourne, Professor Cooper was appointed Head of Accountancy at RMIT University until late 1997, when he took leave and joined CPA Australia, as National Director - Member Services. During his time at CPA Australia, Professor Cooper was responsible for the operations of the CPA Divisions throughout Australia and Asia and also for the CPA's continuing professional development business. He returned to RMIT University in December 2000, where he now teaches and researches in the areas of auditing and professional ethics.Further, this edition has been thoroughly revised to present a current coverage of the auditing environment: the increased focus on professional ethics and ethical competence, governance and professional independence, changes in legal ...
|Title||:||Modern Auditing and Assurance Services|
|Author||:||Philomena Leung, Paul Coram, Barry J. Cooper|