From

Auditing and
AssuranceServices

Fourteenth Edition

Alvin A. Arens

Randal J. Elder
Mark S. Beasley

Prentice Hall

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10987654321
ISBN-13:978-0-13-257607-9
ISBN-10:0-13-257607-4

From

CONTENTS

I.THE AUDITING PROFESSION

1The Demand for Audit and Other Assurance Services...... 1-1

2The CPA Profession...... 2-1

3Audit Reports...... 3-1

4Professional Ethics...... 4-1

5Legal Liability...... 5-1

II.THE AUDIT PROCESS

6Audit Responsibilities and Objectives...... 6-1

7Audit Evidence...... 7-1

8Audit Planning and Analytical Procedures...... 8-1

9Materiality and Risk...... 9-1

10Section 404 Audits of Internal Control and Control Risk...... 10-1

11Fraud Auditing...... 11-1

12The Impact of Information Technology on the Audit Process...... 12-1

13Overall Audit Plan and Audit Program...... 13-1

III.APPLICATION OF THE AUDIT PROCESS TO THE SALES AND COLLECTION CYCLE

14Audit of the Sales and Collection Cycle: Tests of Controls

and Substantive Tests of Transactions...... 14-1

15Auditing Sampling for Tests of Controls

and Substantive Tests of Transactions...... 15-1

16Completing the Tests in the Sales and Collection Cycle:

Accounts Receivable...... 16-1

17Audit Sampling for Tests of Details of Balances...... 17-1

IV.APPLICATION OF THE AUDIT PROCESS TO OTHER CYCLES

18Audit of the Acquisition and Payment Cycle:

Tests of Controls, Substantive Tests of Transactions,

and Accounts Payable...... 18-1

19Completing the Tests in the Acquisition and Payment Cycle:

Verification of Selected Accounts...... 19-1

20Audit of the Payroll and Personnel Cycle...... 20-1

21Audit of the Inventory and Warehousing Cycle...... 21-1

22Audit of the Capital Acquisition and Repayment Cycle...... 22-1

23Audit of Cash Balances...... 23-1

V.COMPLETING THE AUDIT

24Completing the Audit...... 24-1

VI.OTHER ASSURANCE AND NONASSURANCE SERVICES

25Other Assurance Services...... 25-1

26Internal and Governmental Financial Auditing

and Operational Auditing...... 26-1