Auditing & Assurance Services https://www.mheducation.com/cover-images/Jpeg_400-high/126036920X.jpeg 8 2021 9781260369205 As auditors, we are trained to investigate beyond appearances to determine the underlying facts by looking beneath the surface. From the Enron and WorldCom scandals of the early 2000s, to the financial crisis of 2007 and 2008, to present-day issues and challenges related to significant estimation uncertainty, understanding the auditor’s responsibility related to fraud, maintaining a clear perspective, probing for details, and understanding the big picture are indispensable to effective auditing. With the availability of greater levels of qualitative and quantitative information (big data), the need for technical skills and challenges facing today's auditor is greater than ever. The author team of Bagley, Blay, Strawser, and Thibodeau has dedicated years of experience in the auditing field to this new edition of Auditing and Assurance Services, supplying the necessary investigative tools for future auditors.
09781260369205
Auditing & Assurance Services

Auditing & Assurance Services, 8th Edition

ISBN10: 126036920X | ISBN13: 9781260369205
By Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser, Jay Thibodeau, David Sinason

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As auditors, we are trained to investigate beyond appearances to determine the underlying facts by looking beneath the surface. From the Enron and WorldCom scandals of the early 2000s, to the financial crisis of 2007 and 2008, to present-day issues and challenges related to significant estimation uncertainty, understanding the auditor’s responsibility related to fraud, maintaining a clear perspective, probing for details, and understanding the big picture are indispensable to effective auditing. With the availability of greater levels of qualitative and quantitative information (big data), the need for technical skills and challenges facing today's auditor is greater than ever. The author team of Bagley, Blay, Strawser, and Thibodeau has dedicated years of experience in the auditing field to this new edition of Auditing and Assurance Services, supplying the necessary investigative tools for future auditors.


PART ONE
The Contemporary Auditing Environment
1. Auditing and Assurance Services
2. Professional Standards

PART TWO
The Financial Statement Audit
3. Engagement Planning;
4. Management Fraud and Audit Risk
5. Risk Assessment: Internal Control Evaluation
6. Employee Fraud and the Audit of Cash
7. Revenue and Collection Cycle
8. Acquisition and Expenditure Cycle;
9. Production Cycle;
10. Finance and Investment Cycle
11. Completing the Audit
12. Reports on Audited Financial Statements

PART THREE
Stand-Alone Modules
A. Other Public Accounting Services
B. Professional Ethics
C. Legal Liability
D. Internal Audits, Governmental Audits, and Fraud Examinations
E. Attributes Sampling
F. Variables Sampling
G. Data and Analytics in Auditing
H. Auditing and Information Technology

CASES




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About the Author

Timothy Louwers

Timothy J. Louwers is the Director of the School of Accounting and KPMG Eminent Professor in Accounting at James Madison University.<br>
Professor Louwers received his undergraduate and master’s degrees from The Citadel and his PhD from Florida State University. Prior to beginning his academic career, he worked in public accounting with KPMG, specializing in financial, governmental, and information systems auditing. He is a certified public accountant (South Carolina and Virginia) and a certified information systems auditor. He is also certified in financial forensics.<br>
Professor Louwers’s research interests include auditors’ reporting decisions and ethical issues in the accounting profession. He has authored or coauthored more than 60 publications on a wide range of accounting, auditing, and technology-related topics, including articles in the Journal of Accounting Research, Accounting Horizons, the Journal of Business Ethics, Behavioral Research in Accounting, Decision Sciences, the Journal of Forensic Accounting, Issues in Accounting Education, the Journal of Accountancy, the CPA Journal, and Today’s CPA. Some of his published work has been reprinted in Russian and Chinese. He is a respected lecturer on auditing and technology-related issues and has received teaching excellence awards from the University of Houston and Louisiana State University. He has appeared on both local and national television news broadcasts, including MSNBC and CNN news programs.

Penelope Bagley

Allen Blay

Allen D. Blay is an Associate Professor of Accounting at Florida State University.

Professor Blay completed his PhD at the University of Florida in 2000. He teaches auditing
at all levels and teaches a seminar in auditing research in the doctoral program. His research
interests relate to auditor judgment and decision making. Professor Blay has authored or coauthored
publications on a wide range of accounting and auditing topics in journals such as
Contemporary Accounting Research, Auditing: A Journal of Practice and Theory, Organizational
Behavior and Human Decision Processes, the Journal of Business Ethics, Behavioral
Research in Accounting, Issues in Accounting Education, the International Journal of Auditing,
and the Journal of Accounting, Auditing, and Finance. He is currently Associate Editor
for Issues in Accounting Education and serves on several editorial boards.

Professor Blay has been active in the American Accounting Association, serving on
the auditing education committee and the annual meeting committee as Accounting,
Behavior, and Organizations section chair, among other committees. He is also active in
the American Institute of CPAs, serving in various volunteer roles relating to the Uniform
CPA Exam. Prior to entering academics, Professor Blay worked in public accounting
auditing financial institutions. He currently directs the accounting doctoral program at
Florida State University.

Jerry Strawser

Jerry R. Strawser is Executive Vice President and Chief Financial Officer at Texas A&M University and holds the KPMG Chair in Accounting.<br>
Prior to his current appointment, Professor Strawser served as dean of Mays Business School at Texas A&M University, interim executive vice president and provost at Texas A&M University, interim dean of the C. T. Bauer College of Business at the University of Houston, and Arthur Andersen & Co. Alumni Professor of Accounting.<br>
Professor Strawser has coauthored three textbooks and more than 60 journal articles. In addition to his academic experience, he had prior public accounting experience at two Big Five accounting firms. He has also developed and delivered numerous executive development programs to organizations such as AT&T, Centerpoint Energy, Continental Airlines, ConocoPhillips, Halliburton, KBR, KPMG, Minute Maid, PricewaterhouseCoopers, McDermott International, Shell, Southwest Bank of Texas, and the Texas Society of Certified Public Accountants. Professor Strawser is a certified public accountant in the state of Texas and earned his BBA and PhD in Accounting from Texas A&M University.

Jay Thibodeau

Jay C. Thibodeau is the Rae D. Anderson Professor of Accounting at Bentley University.<br>
Professor Thibodeau is a certified public accountant and a former auditor. He received his bachelor’s degree from the University of Connecticut in 1987 and his PhD from the University of Connecticut in 1996. He joined the faculty at Bentley in 1996 and has remained there. At Bentley, he serves as the coordinator for all audit and assurance curriculum matters. His off-campus commitments include consulting with the Audit Learning and Development group at KPMG.<br>
Professor Thibodeau’s scholarship focuses on audit judgment and decision making and audit education. He is a coauthor of two textbooks and has written more than 40 book chapters and articles for academics and practitioners in journals such as Auditing: A Journal of Practice & Theory, Accounting Horizons, and Issues in Accounting Education.<br>
Professor Thibodeau served as the President of the Auditing Section of the American Accounting Association for the 2014/2015 academic year. He served on the Executive Committee for the Auditing Section from 2008 to 2010. He has received national recognition for his work five times. First, for his thesis, winning the 1996 Outstanding Doctoral Dissertation Award presented by the ABO section of the AAA. Three other times, for curriculum innovation, winning the 2001 Joint AICPA/AAA Collaboration Award, the 2003 Innovation in Assurance Education Award, and the 2016 Forensic Accounting Teaching Innovation Award. Finally, for outstanding service, receiving a Special Service Award from the Auditing Section for his work in helping to create the “Access to Auditors” program sponsored by the Center for Audit Quality.

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