As a result of recent audit scandals such as Enron and Worldcom, several new auditing standards have been enacted, making currency one of the most important issues in this market. Upon publication, this text will be the most up-to-date auditing text on the market. It’s been written so that it is current with all issues inherent in accounting and auditing practice, particularly in public accounting firms including coverage of the creation of the Public Companies Accounting Oversight Board, the passage of the Sarbanes-Oxley Act, and all of the major pronouncements issued by the AICPA through Summer 2005.
The Louwers text is also a leader in fraud coverage and is accompanied by the Apollo Shoes Casebook--the only standalone FRAUD audit case on the market (available at the book's Online Learning Center).
The text is also designed to provide flexibility for instructors; the twelve chapters focus on the auditing process while the eight modules provide additional topics that can be taught at the instructor’s discretion without interrupting the flow of the text.
Part I: The Contemporary Auditing Environment
Chapter 1: Auditing and Assurance Services
Chapter 2: Professional Standards
Chapter 3: Management Fraud and Audit Risk
Comprehensive Cases—Professional Issues
Arthur Andersen
KPMG
Part II: The Financial Statement Audit
Chapter 4: Engagement Planning
Chapter 5: Internal Control Evaluation
Appendix 5A the Payroll Cycle
Chapter 6: Employee Fraud and the audit of Cash
Chapter 7: Revenue and Collection Cycle
Fraud Cases: Extended Audit Procedures (SAS 99)
Appendix 7A Internal Controls
Appendix 7B Audit Programs
Chapter 8: Acquisition and Expenditure Cycle
Fraud Case(s): Extended Audit Procedures (SAS 99)
Appendix 8A Internal Controls
Appendix 8B Audit Programs
Chapter 9: Production Cycle
Fraud Case: Extended Audit Procedures (SAS 99)
Appendix 9A Internal Controls
Appendix 9B Audit Programs
Chapter 10: Finance and Investment Cycle
Fraud Case: Extended Audit Procedures (SAS 99)
Appendix 10A Internal Controls
Appendix 10B Audit Programs
Chapter 11: Completing the Audit
Chapter 12: Reports on Audited Financial Statements
Comprehensive Cases—Audit Issues:
HealthSouth Corporation
Parmalat
Part III: Other Topics
Module A: Assurance and Other Public Accounting Services
Module B: Professional Ethics
Appendix: AICPA Interpretations of the Rules of Conduct
Module C: Legal Liability
Module D: Internal, Governmental, and Fraud Audits
Appendix:: Standards for the Professional Practice of Internal Auditing (abridged)
Appendix:: The Institute of Internal Auditors Code of Ethics
Appendix: Professional Standards and Practices for Certified Fraud Examiners
Module E: Overview of Sampling
Module F: Attribute Sampling
Module G: Variables Sampling
Module H: Information Systems Auditing
