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Core Auditing Standards for Practitioners.

By: Bagshaw, Katharine.
Contributor(s): Selwood, John.
Material type: TextTextSeries: eBooks on Demand.Publisher: Hoboken : Wiley, 2014Description: 1 online resource (198 p.).ISBN: 9781118707098.Subject(s): Accounting -- Standards | Auditing -- Standards | AuditingGenre/Form: Electronic books.Additional physical formats: Print version:: Core Auditing Standards for PractitionersDDC classification: 657 Online resources: Click here to view this ebook.
Contents:
Core Auditing Standards for Practitioners; Copyright; Contents; Introduction; Why Read This Book?; Good quality, smaller ISA audits are conducted all over the world, profitably; No, You Do Not Need to Read All of the ISAs, But You Do Need to Understand Them, Especially the Core ISAs; Why Are These ISAs the 'Core' Auditing Standards?; Audit quality and professional scepticism; Closing the gap between auditing standards and firm methodologies; Chapter 1: Smaller Entity Audits; 1.1 The Issues; 1.1.1 One-size-fits-all auditing standards; 1.1.2 Auditor efficiency; 1.1.3 Regulatory attitudes
1.1.4 The quality of audit methodologies1.2 What the Regulators Say; 1.3 What Practitioners Say; 1.4 What the Standards Say; 1.4.1 Defining a smaller entity; 1.4.2 Practice Note 26: smaller entity audit documentation; 1.4.3 The building blocks of the right approach to smaller entity audits; 1.4.4 Ten top tips for cost-effective smaller and less complex audits; Chapter 2: Materiality; 2.1 The Issues; 2.1.1 Issues for standard-setters and regulators; 2.2 What the Regulators Say; 2.2.1 AQRT; 2.2.2 QAD; 2.2.3 Other regulators; 2.2.4 IAASB's ISA Implementation Monitoring Project
2.3 What Practitioners Say2.4 What the Standards Say; 2.4.1 Materiality and performance materiality; 2.4.2 Applying materiality and performance materiality; 2.4.3 Audit documentation; 2.4.4 Revising materiality, final materiality; 2.4.5 What is 'clearly trivial'?; 2.4.6 Evaluating misstatements; Chapter 3: Related Parties; 3.1 The Issues; 3.1.1 Issues for standard-setters and regulators; 3.2 What the Regulators Say; 3.2.1 QAD; 3.2.2 Other regulators; 3.2.3 IAASB's ISA Implementation Monitoring project; 3.3 What Practitioners Say; 3.4 What the Standards Say
3.4.1 Unidentified and undisclosed related parties and transactions3.4.2 Fraud risk factors; 3.4.3 Transactions not at arm's length, outside the normal course of business and with Special Purpose Entities; Chapter 4: Get This Right and the Rest Falls into Place: Understanding the Entity and Assessing Risk; 4.1 The Issues; 4.1.1 Risk-based auditing is not new; 4.1.2 Over-auditing low risk areas is a distraction: it diverts attention from more significant risks; 4.1.3 Over-auditing: harder to tackle than under-auditing and a threat to audit quality
4.1.4 Understanding the entity, assessing risk and responding to it4.1.5 ISA 315: too long, too complicated, too focused on internal control ...; 4.2 What the Regulators Say; 4.2.1 AQRT; 4.2.2 QAD; 4.2.3 Other regulators; 4.2.4 IAASB's ISA Implementation Monitoring project; 4.3 What Practitioners Say; 4.3.1 The importance of a risk-based audit; 4.3.2 Why so much emphasis on internal control?; 4.3.3 Documenting the auditors' understanding of the entity; 4.3.4 Presumptions in ISAs about risk; 4.4 What the Standards Say; 4.4.1 Understanding the entity and risk assessment: how they interact
4.4.2 Understanding the entity: focusing on what is important by ignoring what is irrelevant
Summary: The only book on the market specifically designed to help audit staff stay ahead of inspectors 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 grou
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Item type Current location Call number URL Status Date due Barcode
Electronic Book UT Tyler Online
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Core Auditing Standards for Practitioners; Copyright; Contents; Introduction; Why Read This Book?; Good quality, smaller ISA audits are conducted all over the world, profitably; No, You Do Not Need to Read All of the ISAs, But You Do Need to Understand Them, Especially the Core ISAs; Why Are These ISAs the 'Core' Auditing Standards?; Audit quality and professional scepticism; Closing the gap between auditing standards and firm methodologies; Chapter 1: Smaller Entity Audits; 1.1 The Issues; 1.1.1 One-size-fits-all auditing standards; 1.1.2 Auditor efficiency; 1.1.3 Regulatory attitudes

1.1.4 The quality of audit methodologies1.2 What the Regulators Say; 1.3 What Practitioners Say; 1.4 What the Standards Say; 1.4.1 Defining a smaller entity; 1.4.2 Practice Note 26: smaller entity audit documentation; 1.4.3 The building blocks of the right approach to smaller entity audits; 1.4.4 Ten top tips for cost-effective smaller and less complex audits; Chapter 2: Materiality; 2.1 The Issues; 2.1.1 Issues for standard-setters and regulators; 2.2 What the Regulators Say; 2.2.1 AQRT; 2.2.2 QAD; 2.2.3 Other regulators; 2.2.4 IAASB's ISA Implementation Monitoring Project

2.3 What Practitioners Say2.4 What the Standards Say; 2.4.1 Materiality and performance materiality; 2.4.2 Applying materiality and performance materiality; 2.4.3 Audit documentation; 2.4.4 Revising materiality, final materiality; 2.4.5 What is 'clearly trivial'?; 2.4.6 Evaluating misstatements; Chapter 3: Related Parties; 3.1 The Issues; 3.1.1 Issues for standard-setters and regulators; 3.2 What the Regulators Say; 3.2.1 QAD; 3.2.2 Other regulators; 3.2.3 IAASB's ISA Implementation Monitoring project; 3.3 What Practitioners Say; 3.4 What the Standards Say

3.4.1 Unidentified and undisclosed related parties and transactions3.4.2 Fraud risk factors; 3.4.3 Transactions not at arm's length, outside the normal course of business and with Special Purpose Entities; Chapter 4: Get This Right and the Rest Falls into Place: Understanding the Entity and Assessing Risk; 4.1 The Issues; 4.1.1 Risk-based auditing is not new; 4.1.2 Over-auditing low risk areas is a distraction: it diverts attention from more significant risks; 4.1.3 Over-auditing: harder to tackle than under-auditing and a threat to audit quality

4.1.4 Understanding the entity, assessing risk and responding to it4.1.5 ISA 315: too long, too complicated, too focused on internal control ...; 4.2 What the Regulators Say; 4.2.1 AQRT; 4.2.2 QAD; 4.2.3 Other regulators; 4.2.4 IAASB's ISA Implementation Monitoring project; 4.3 What Practitioners Say; 4.3.1 The importance of a risk-based audit; 4.3.2 Why so much emphasis on internal control?; 4.3.3 Documenting the auditors' understanding of the entity; 4.3.4 Presumptions in ISAs about risk; 4.4 What the Standards Say; 4.4.1 Understanding the entity and risk assessment: how they interact

4.4.2 Understanding the entity: focusing on what is important by ignoring what is irrelevant

The only book on the market specifically designed to help audit staff stay ahead of inspectors 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 grou

Description based upon print version of record.

Author notes provided by Syndetics

<p> 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.</p> <p> 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 .</p>

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