Auditing, assurance services, and forensics : a comprehensive approach

목차 (Table of Contents)

• CONTENTS
• Part Ⅰ Audit Framework, Profession, and Standards
• 1 Overview, History, and Overall Objectives of Auditing = 3
• 1.1 General = 3
• 1.2 Attestations and Assurance Services = 4
• 1.3 Audit Objectives = 7
• 1.4 Overall Objectives = 7
• 1.5 Reasonable Assurance = 8
• 1.6 Terms Engagement = 10
• 1.7 Quality Control of Engagement = 14
• 2 The Audit Profession : The US Sarbanes-Oxley Act = 17
• 2.1 General = 17
• 2.2 The Public Company Accounting Oversight Board = 18
• 2.3 The Audit Committee = 26
• 2.4 Use of IT in SOX Compliance (Auditboard) = 27
• 3 The International Auditing and Assurance Standards Board = 35
• 3.1 General = 35
• 3.2 List of the Standards = 36
• 3.3 IAASB Due Process = 37
• 4 Generally Accepted Auditing Standards, Audit Planning and Engagement Quality Review = 41
• 4.1 General = 41
• 4.2 AICPA Auditing Standards = 42
• 4.3 Interpretive Publications = 43
• 4.4 Other Auditing Publications = 43
• 4.5 PCAOB Auditing Standard = 44
• 4.6 Audit Planning = 55
• 4.7 Engagement Quality Review = 59
• 5 Other Engagements, Reports, and Accounting Services = 69
• 5.1 General = 69
• 5.2 Other Attestation Services = 69
• 5.3 Advisory Services = 80
• 5.4 Non-assurance Services = 83
• 6 Agreed-Upon Procedures = 91
• 6.1 General = 91
• 6.2 Conditions for Engagement Performance = 92
• 6.3 Subject-Matter and Related Assertions = 93
• 6.4 Establishing an Understanding with the Client = 94
• 6.5 Reporting = 97
• 6.6 Case Study : James Thomas McCurdy v. SEC = 103
• 7 Professional Standards : Independence, Integrity, and Objectivity = 109
• 7.1 General = 109
• 7.2 Independence Impairment = 110
• 7.3 Integrity and Objectivity = 120
• Part Ⅱ Audit Planning
• 8 Audit Planning, Testing, and Materiality = 127
• 8.1 General = 127
• 8.2 Preliminary Engagement Activities = 128
• 8.3 Involvement of Professionals Possessing Specialized Skills = 131
• 8.4 Documentation = 131
• 8.5 Planning Activities = 132
• 8.6 The Role and Timing of Planning = 132
• 8.7 Changes During the Course of the Audit = 133
• 8.8 Supervision of Engagement Team Members = 134
• 8.9 Consideration of Materiality in Planning and Performing an Audit = 135
• 8.10 The Auditor's Responses to the Risks of Material Misstatement = 139
• Part III Audit Evidence Processing
• 9 Audit Evidence and Documentation = 155
• 9.1 General = 155
• 9.2 Sources of Audit Evidence = 156
• 9.3 Relevance and Reliability = 156
• 9.4 Management Assertions Over Financial Statement = 158
• 9.5 Audit Procedures for Obtaining Audit Evidence = 159
• 9.6 Reliability of Information Produced by a Management's Specialist = 163
• 9.7 Audit Documentation = 164
• 9.8 Evaluating the Audit Result = 171
• 9.9 The Use of Blockchain Technology in Auditing = 178
• 10 Audit Risks : Identification and Procedures = 183
• 10.1 General = 183
• 10.2 Characteristics of Fraud = 183
• 10.3 Risk of Material Misstatement = 184
• 10.4 Detection Risk = 185
• 10.5 Performing Risk Assessment Procedures = 185
• 10.6 Identifying and Assessing the Risks of Material Misstatement = 198
• 11 Audit Sampling = 203
• 11.1 General = 203
• 11.2 Sampling and Non-sampling Risks = 204
• 11.3 Sampling in Substantive Tests of Details = 205
• 11.4 Sampling in Tests of Controls = 208
• 11.5 Dual-Purpose Samples = 211
• 11.6 Use of IT in Sampling = 212
• 12 Auditing Accounting Estimates, Including Fair Value Accounting Estimates = 215
• 12.1 General = 215
• 12.2 Auditing Accounting Estimates = 215
• 12.3 Auditing Fair Value Estimates = 219
• 12.4 Assessment of Fair Value Levels = 223
• 13 Related Party Transactions = 229
• 13.1 General = 229
• 13.2 Examples of Transactions with Related Parties Include, Among Others = 230
• 13.3 Audit Procedures = 231
• 13.4 Evaluating Whether the Company Has Properly Identified Its Related Parties and Relationships and Transactions with Related Parties = 235
• 13.5 Communications with the Audit Committee = 237
• 14 Significant Unusual Transactions = 239
• 14.1 General = 239
• 14.2 Auditor Requirements = 240
• 14.3 Identifying Significant Unusual Transactions = 242
• 14.4 Audit Risk Procedures = 242
• 14.5 Management and Audit Committee Responsibilities = 243
• 15 Subsequent Events ; and Going Concern = 247
• 15.1 General = 247
• 15.2 Types of Subsequent Events = 248
• 15.3 Re-issuance of Financial Statements = 249
• 15.4 Audit Procedures for Subsequent Events = 250
• 15.5 Going Concern = 252
• 16 Reporting on Condensed Financial Statements, Selected Financial Data, and Supplemental Information = 261
• 16.1 General = 261
• 16.2 Condensed Financial Statements = 262
• 16.3 Selected Financial Data = 264
• 17 Consideration of Fraud and of Internal Control Over Financial Reporting Audit = 273
• 17.1 General = 273
• 17.2 Types of Misstatements = 273
• 17.3 Exercising Professional Skepticism = 274
• 17.4 Identifying the Risks of Material Misstatement Due to Fraud = 275
• 17.5 Evaluating Audit Evidence = 276
• 17.6 Communicating to Management, Those Charged with Governance, and Others = 277
• 17.7 Audits of Internal Control Over Financial Reporting = 279
• 18 Financial Statements' Audit = 289
• 18.1 General = 289
• 18.2 Financial Statement Assertions = 289
• 18.3 Cash and Cash Equivalent = 290
• 18.4 Receivables or Revenue Cycle = 292
• 18.5 Inventories = 294
• 18.6 Plant, Property, and Equipment = 299
• 18.7 Account and Notes Payables = 301
• 18.8 Equity Capital = 303
• 18.9 Long-Term Debt = 304
• 19 The Integrated Audit Process = 309
• 19.1 General = 309
• 19.2 Audit of Internal Control Over Financial Reporting (ICFR) = 309
• 19.3 Audit of Financial Statements = 327
• 19.4 The Ongoing Concern Report = 336
• 20 Audits of Group Financial Statements = 343
• 20.1 General = 343
• 20.2 Audit Strategy and Audit Plan = 344
• 20.3 Independence and Competence of the Component Auditor = 347
• 20.4 Assessment of Materiality in Group Audit = 349
• 20.5 Audit Test Related to Group Audit = 351
• 20.6 The Evaluation of the Sufficiency and Appropriateness of Audit Evidence = 353
• 20.7 Communication Between the Lead Auditor and the Group = 353
• 20.8 Documenting a Group Audit = 355
• 20.9 The Consolidation Process = 355
• 20.10 Conclusion = 356
• 21 Communications with Audit Committees = 359
• 21.1 General = 359
• 21.2 Objectives = 359
• 21.3 The Scope of the Communication = 360
• 21.4 Form and Documentation of Communications = 367
• 21.5 Timing = 367
• 22 Audit Tools : Financial Ratios Analysis = 371
• 22.1 General = 371
• 22.2 Liquidity Measurement Ratios = 371
• 22.3 Solvency Ratios = 375
• 22.4 Profitability Indicator Ratios = 377
• 22.5 Efficiency Ratios = 380
• 22.6 Debt Ratios = 383
• 22.7 Operating Performance Ratios = 385
• 22.8 Cash Flow Indicator Ratios = 388
• 22.9 Investment Valuation Ratios = 389
• 22.10 Limitations = 392
• 23 Corporate Governance, Accounting, and Auditing Scandals = 395
• 23.1 General = 395
• 23.2 The Triangle of Fraud = 395
• 23.3 Scandals in the United States = 397
• 23.4 Diagnosis of the Scandals = 407
• 24 Auditor Legal Liability = 411
• 24.1 General = 411
• 24.2 Auditor Contractual Liability : The Engagement Letter = 411
• 24.3 Auditor Common Law Tort Liability = 413
• 24.4 Auditor Liabilities Vis-a-Vis Third-Party Claimants = 417
• 24.5 The Auditor Defenses = 424
• 24.6 Auditor Federal Statutory Liability = 432
• 24.7 Auditor State Liability = 438
• 24.8 Auditor Criminal Liability = 439
• 24.9 Conclusion = 443
• 25 Forensic Auditing = 447
• 25.1 Introduction = 447
• 25.2 The PCAOB Objectives of Forensic Audit = 448
• 25.3 The International Auditing and Assurance Standards Board (ISA 240) = 449
• 25.4 Forensic Auditing Services = 450
• 25.5 Forensic Audit and Fraud Detection = 450
• 25.6 Forensic Audit Procedures = 455
• 25.7 Investigation Techniques and Digital Evidence = 456
• 25.8 Case Study = 462
• Glossary of the Terms = 469
• Bibliography = 481
• Answers to Chapter Questions = 485
• Index = 491