Auditing & Assurance Services: A Systematic Approach https://www.mheducation.com/cover-images/Jpeg_400-high/1259969444.jpeg 11 9781259969447 The fundamental values central to the Messier Jr./Glover/Prawitt text include: student engagement, a systematic approach, and decision making. Student Engagement: The authors believe students are best served by acquiring a strong understanding of the basic concepts that underlie the audit process and how to apply those concepts to various audit and assurance services. The text is accessible to students through straightforward writing and the use of engaging, relevant real-world examples, illustrations, and analogies. The text explicitly encourages students to “stop and think” at important points in the text to help them apply principles covered and also helps students see the application of concepts in a practical setting through “practice insight” boxes. A Systematic Approach: 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). Decision Making: Since much of auditing practice involves the application of auditor judgment, the authors focus on critical judgments and decision-making processes. If a student understands these basic concepts and how to apply them to an audit engagement, he or she will be more effective in today's dynamic audit environment. The new edition even includes a full advanced module on Professional Judgment.
Auditing & Assurance Services: A Systematic Approach

Auditing & Assurance Services: A Systematic Approach

11th Edition
By William Messier Jr and Steven Glover and Douglas Prawitt
ISBN10: 1259969444
ISBN13: 9781259969447
Copyright: 2019
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Program Details

Part 1 Introduction to Assurance and Financial Statement Auditing
Chapter 1: An Introduction to Assurance and Financial Statement Auditing
Chapter 2: The Financial Statement Auditing Environment

Part 2 Audit Planning and Basic Auditing Concepts
Chapter 3: Audit Planning, Types of Audit Tests, and Materiality
Chapter 4: Risk Assessment
Chapter 5: Evidence and Documentation

Part 3 Understanding and Auditing Internal Control
Chapter 6: Internal Control in a Financial Statement Audit
Chapter 7: Auditing Internal Control over Financial Reporting

Part 4 Statistical and Nonstatistical Sampling Tools for Auditing
Chapter 8: Audit Sampling: An Overview and Application to Tests of Controls
Chapter 9: Audit Sampling: An Application to Substantive Tests of Account Balances

Part 5 Auditing Business Processes
Chapter 10: Auditing the Revenue Process
Chapter 11: Auditing the Purchasing Process
Chapter 12: Auditing the Human Resource Management Process
Chapter 13: Auditing the Inventory Management Process
Chapter 14: Auditing the Financing/Investing Process: Prepaid Expenses, Intangible Assets, and Property, Plant and Equipment
Chapter 15: Auditing the Financing/Investing Process: Long-Term Liabilities, Stockholders' Equity, and Income Statement Accounts
Chapter 16: Auditing the Financing/Investing Process: Cash and Investments

Part 6 Completing the Audit and Reporting Responsibilities
Chapter 17: Completing the Audit Engagement
Chapter 18: Reports on Audited Financial Statements

Part 7 Professional Responsibilities
Chapter 19: Professional Conduct, Independence, and Quality Control
Chapter 20: Legal Liability

Part 8 Assurance, Attestation, and Internal Auditing Services
Chapter 21: Assurance, Attestation, and Internal Auditing Services
Appendix 1: Professional Judgment Framework - Understanding and Developing Professional Judgment in Auditing
Appendix 2: An introduction to Data Analytics

About the Author

William Messier Jr

Professor William F. Messier, Jr., is the Deloitte & Touche Professor at the School of Accountancy, Georgia State University. He holds a Professor II position at the Institute for Accounting and Auditing, Norwegian School of Economics and Business Administration, and he is a visiting professor at SDA Bocconi in Milan, Italy. Professor Messier has a BBA from Siena College, an MS from Clarkson University, and an MBA and DBA from Indiana University. He is a CPA in Florida and has taught at the Universities of Florida and Michigan.

Professor Messier has served as the Chairperson of the Auditing Section of the American Accounting Association and as co-editor of the Journal of Accounting Literature. He currently serves on the AICPA’s International Auditing Standards Subcommittee. Professor Messier has authored or co-authored over 45 articles in accounting, decision science, and computer science journals.

Steven Glover

Professor Steven M. Glover is the K. Fred Skousen Professor and Associate Dean of the Marriott School of Management, Brigham Young University. Professor Glover is a CPA in Utah and holds a PhD and BS from the University of Washington and an AA in Business from BYU – Idaho. He previously worked as an auditor for KPMG LLP and as a director in the national office of PwC LLP. Professor Glover is currently serving on the AICPA Auditing Standards Board and has served on the audit committee of a nonprofit organization. He has served on the board of advisors for technology companies and he actively consults with public companies and public accounting firms. He has also served as an expert witness. Professor Glover is a past President of the Auditing Section of the American Accounting Association and he has been on auditing-related task forces of the AICPA. Professor Glover is or has served on the editorial boards of Auditing: A Journal of Practice & Theory, The Accounting Review, Current Issues in Auditing, and the review board of the AAA/CAQ Access to Audit Personnel Program. He has authored or coauthored over 40 articles and books primarily focused in the areas of auditor decision making, audit education, and audit practice. Together with Professor Prawitt and KPMG, LLP, he co-authored an award-winning monograph designed to accelerate the professional judgment of auditors and auditing students, as well as a monograph on professional skepticism commissioned by the Standards Working Group of the GPPC, an international consortium of the six largest public accounting network firms.

Douglas Prawitt

Professor Douglas F. Prawitt is the Glen Ardis Professor of Accountancy at the Marriott School of Management, Brigham Young University. Professor Prawitt is a CPA in Utah. He holds a PhD from the University of Arizona, and BS and MAcc degrees from Brigham Young University. Professor Prawitt was awarded the Marriott School’s Teaching Excellence and Outstanding Researcher awards in 1998 and 2000. He received the Merrill J. Bateman Student Choice Teaching Award in 2002, BYU’s Wesley P. Lloyd Award for Distinction in Graduate Education in 2006, and the American Accounting Association’s Deloitte/Wildman Award in 2013.

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The Audit Data Analytics Appendix

provides an overview of the confluence of events that has brought the practice to its current state. It then goes into detailed discussion of the 5-step process of performing audit data analytics as proposed by the AICPA’s Audit Data Analytics Guide. The Appendix also has detailed examples of how audit data analytics can be used in risk assessment and as substantive tests. Connect also has new content that provides students with links to other web-based resources to help them learn and expand their analytics skills into new areas beyond the scope of the text. Given the importance of audit data analytics in practice, this Appendix will help instructors and students stay up-to-date on the latest trends.

Roger CPA Review

provides students with a smooth transition from the accounting classroom to successful completion of the CPA Exam. Students using the 11th edition of Messier will have access to sample CPA Exam multiple-choice questions and Task-based Simulations from Roger CPA Review, with expert-written explanations and solutions. All questions are either directly from the AICPA or are modeled on AICPA questions that appear in the exam. Instructors may assign the auto-gradable Roger CPA Review Multiple-choice Questions in Connect, and Task-based Simulations are delivered via the Roger CPA Review platform, which mirrors the look, feel, and functionality of the actual exam.

Tableau:

New to this edition is the use of Tableau, a marketing-leading data analytics and visualization software that students can download for free. The authors provide instruction on how to download Tableau and access basic tutorials created by the software provider. Additionally, the authors created new data visualiation and audit data analytics problems in Connect for the majority of the chapters using Tableau. This new functionality exposes students to cutting-edge technology used in practice. Solution files and guides are available online for instructors.

IDEA Data Analysis Software

is a powerful and user-friendly data analysis tool designed to help auditors perform audit data analytics, audit sampling, and other audit procedures efficiently and effectively. Students are introduced to IDEA in the text and through hands-on tutorials, exercises, and problems, including new problems for 11e regarding visualization and data analytics. Please note that the underlying dataset has been fundamentally changed for 11e, reducing concern about students using prior year solutions.

Student Engagement:

The authors believe students are best served by acquiring a strong understanding of the basic concepts that underlie the audit process and how to apply those concepts to various audit and assurance services. The text is accessible to students through straightforward writing and the use of engaging, relevant real-world examples, illustrations, and analogies. The text explicitly encourages students to “stop and think” at important points in the text to help them apply principles covered and also helps students see the application of concepts in a practical setting through “practice insight” boxes.

A Systematic Approach:

The text continues to take a systematic approach to the audit process by first introducing the three underlying concepts: audit risk, materiality, and evidence. This is followed by 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. The text has been revised to

Decision Making:

Since much of auditing practice involves the application of auditor judgment, the authors focus on critical judgments and decision-making processes. If a student understands these basic concepts and how to apply them to an audit engagement, he or she will be more effective in today's dynamic audit environment. The new edition even includes a full advanced module on Professional Judgment.

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