Auditing For Dummies

Maire Loughran is a self-employed certified public accountant (CPA) who has prepared compilation, review, and audit reports for fifteen years. Additionally, she is a university professor of undergraduate- and graduate-level accounting classes.

• Introduction 1Part I: Getting an Auditing Initiation 7Chapter 1: Taking Auditing into Account 9Chapter 2: The Role of Auditing in Public Accounting 21Chapter 3: Understanding Professional Standards and Ethics 33Part II: Performing the Initial Auditing Steps 45Chapter 4: Getting Engaged: Preparing to Conduct an Audit 47Chapter 5: Assessing Audit Risk 67Chapter 6: Collecting and Documenting Audit Evidence 91Chapter 7: Auditing a Client’s Internal Controls 111Chapter 8: Sampling the Records 133Part III: Auditing How a Client Conducts Business 153Chapter 9: The Revenue Process: Auditing How a Business Makes Money 155Chapter 10: The Purchasing Process: Auditing How a Business Spends Money 181Chapter 11: The Human Resources Process: Auditing Personnel Practices 201Chapter 12: Inventory Management: Auditing How a Business Manages Its Products 219Part IV: Focusing on a Client’s Finances 239Chapter 13: Auditing Fixed and Intangible Assets 241Chapter 14: Auditing Long-Term Liabilities and Stockholder Equity 261Chapter 15: Auditing Cash and Investments 283Part V: Completing the Audit 297Chapter 16: Performing Final Due Diligence 299Chapter 17: Wrapping It Up: Issuing the Report 313Chapter 18: The Spectrum of Engagement Services 325Part VI: The Part of Tens 339Chapter 19: Ten Procedures to Obtain Audit Evidence 341Chapter 20: Ten Tips to Stay Educated in Audit Procedures 345Index 349