Contemporary auditing : real issues and cases

Abstract

This book prepares readers for the challenging responsibilities faced in the public accounting profession. This casebook stresses the "people" aspect of independent audits. Readers learn how to avoid "audit failures" most often due to client personnel who intentionally subvert an audit or auditors who fail to carry out their responsibilities. A detailed review of problem audits helps readers recognize the red flags common to failed audits. Discussing and dissecting these challenges prepares readers to handle potential problematic situations in their own professional careers. Readers also acquire a higher-level understanding of auditing standards, ethical principles, audit procedures, and other issues related to independent auditing. By studying these topics in a real-world context, readers achieve a more in-depth, intuitive comprehension of auditing fundamentals, which translates into improved performance on the CPA exam and other professional examinations.