PRESCRIBED TEXT FOR 22730 (ASSURANCE FOR BUSINESS SYSTEMS AND INFO.) AT UTS, SEMESTER 2 2008This text introduced to the market the business risk approach; an approach that has now been followed by other key texts in the market. This approach teaches students to look at the business and the environment it operates within, when assessing audit risk.
The new edition of Jubb/Schelluch has been substantially developed and includes a model of the auditing process, which comes in the early chapters of the text to help students place the chapters in context. It also includes an increased coverage of assurance. Recent changes to auditing standards are referenced throughout the text, and lists of relevant professional standards and guidance statements are provided. The new edition gives increased attention to corporate governance and covers important aspects of the Sarbanes-Oxley Act and CLERP 9, which every auditor will need to know.
The strengths of this edition include:
- Its focus on the impact of technology in auditing
- Clear coverage of e-commerce
- An entire chapter devoted to ethics in auditing
- An improved chapter structure to aid learning
- Updated examples and end-of-chapter material.
This edition covers changes to Auditing Standards (2005/2006), which have been integrated throughout the text.
Updated examples, cases and end-of-chapter material. Some chapter changes have been made to improve the structure of text, for example: the Audit Sampling chapter (Chapter 10 in the 1st edition) is now an appendix; there is now a separate Ethics chapter (Chapter 3); and two chapters have now been made of the previous edition's Chapter 13 (Audit of other assets and long-term financing) - which material is now covered in Chapters 12 and 13.
This text takes a Business Risk approach - which looks at the business and the environment it operates in when assessing audit risk.
There is a strong focus on the effect of technology on the auditing process while also covering the basic financial statement audit.
This edition is up-to-date, with excellent coverage of the Sarbanes-Oxley Act and CLERP 9, as well as coverage of e-commerce and computer audit techniques.
Integrated case study modules (Biltrite Skateboards, Ltd) have a high level of practicality. These case modules provide students with an opportunity to apply auditing concepts to a 'real-life' client, and enable students to use computers as an auditing tool.
ACL software and case study material
1. The importance of auditing
2. Corporate governance - enhancing the audit function
3. Ethics: understanding and meeting ethical expectations
4. Audit risk and business risk
5. Internal control over financial reporting
6. Audit consequences of risks and controls in information systems
7. Audit evidence: a framework for directly testing account balances and transactions
8. Auditing for fraud
9. Auditing revenue and related accounts
10. Audit of acquisition cycle and inventory
11. Audit of cash and other liquid assets
12. Audit of property, plant and equipment and related expense accounts
13. Audit of acquisitions, related entity transactions, long-term liabilities and equity
14. Completing the audit
15. Communicating audit and other assurance results
16. Legal liability
17. Internal auditing and outsourcing
Appendices:
- Audit sampling or testing
- Biltrite
- ACL
