Auditing & assurance services : a systematic approach

Abstract

The authors first introduce the three underlying concepts of audit risk, materiality, and evidence, then follow with a discussion of audit planning, the assessment of control risk, and a discussion of the nature, timing, and extent of evidence necessary to reach the appropriate level of detection risk. These concepts are then applied to each major business process and related account balances using a risk-based approach, (in following with the new standards adopted by the various auditing boards). The new edition even includes a full advanced module on professional judgment.