William Messier Jr, Steven Glover, Douglas Prawitt - Auditing & Assurance Services_ A Systematic Approach-McGraw-Hill Education (2016)

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Table of Contents xxixOther Responsibilities and Practices 655Disciplinary Actions 657Don’t Lose Sight of the Forest for the Trees 657Quality Control Standards 658System of Quality Control 659Elements of Quality Control 659PCAOB Inspections of Registered PublicAccounting Firms 661Key Terms 661Review Questions 663Multiple-Choice Questions 663Problems 666Discussion Cases 668Internet Assignment 669Hands-On Cases 670Chapter 20Legal Liability 672Introduction 674Historical Perspective 674Overview of Auditor Legal Liability 675Common Law—Clients 677Breach of Contract—Client Claims 677Negligence—Client Claims 677Fraud—Client Claims 679Common Law—Third Parties 680Ordinary Negligence—Third-Party Claims 680Fraud and Gross Negligence—Third-PartyClaims 686Damages under Common Law 687Statutory Law—Civil Liability 688Securities Act of 1933 688Securities Exchange Act of 1934 689Private Securities Litigation Reform Act of 1995,the Securities Litigation Uniform Standards Actof 1998, and the Class Action Fairness Act of2005 693Sarbanes-Oxley Act of 2002 695SEC and PCAOB Sanctions 695Foreign Corrupt Practices Act 697Racketeer Influenced and CorruptOrganizations Act 697Statutory Law—Criminal Liability 698Key Terms 699Review Questions 700Multiple-Choice Questions 700Problems 703Discussion Cases 706Hands-On Cases 706PART 8Assurance, Attestation, and InternalAuditing Services 707Chapter 21Assurance, Attestation, and Internal AuditingServices 708Assurance Services 710Types of Assurance Services 711Attest Engagements 711Types of Attest Engagements 712Attestation Standards 713General Standards 713Standards of Fieldwork 715Standards of Reporting 715Reporting on an Entity’s Internal Control overFinancial Reporting (ICFR) 715Conditions for Conducting an EngagementRelating to ICFR 716Examination Engagement on an Entity’sICFR 716Reporting on Management’s Assertion aboutInternal Control 716Financial Forecasts and Projections 717Types of Prospective Financial Statements 717Examination of Prospective FinancialStatements 718Agreed-Upon Procedures for Prospective FinancialStatements 719Compilation of Prospective FinancialStatements 720Accounting and Review Services 722Compilation of Financial Statements 723Review of Financial Statements 724Internal Auditing 726Internal Auditing Defined 727The Institute of Internal Auditors 727IIA Standards 727Code of Ethics 728Internal Auditors’ Roles 729Internal Audit Product Offerings 732Interactions between Internal and ExternalAuditors 732
xxxTable of ContentsAdvanced Module: Examples of Assurance Services—Trust Services and PrimePlus Services 734Trust Services 734Trust Services and SOC 2 and SOC 3Reports 735CPA WebTrust 735CPA PrimePlus Services 738Key Terms 739Review Questions 739Multiple-Choice Questions 740Problems 742Discussion Case 746Internet Assignments 746Hands-On Cases 747Advanced Module: ProfessonalJudgment Framework—Understandingand Developing ProfessionalJudgment in Auditing 748(Also visit KPMG’s University Connectionwebsite to access related resources, includingvideos, mini-cases, instructor notes, andproblems, that were created to accompanythe Deloitte/Wildman award-winning KPMGProfessional Judgment Framework monograph,on which this module is based.)Index 757
Page 2: Auditing & AssuranceServices A S Y
Page 5 and 6: AUDITING & ASSURANCE SERVICES: A SY
Page 7 and 8: viAbout the AuthorsHe consults acti
Page 9 and 10: viiiWhy a New Edition?3. Making sev
Page 11 and 12: xGive your students an intuitive, h
Page 13 and 14: How does 10e prepareyour students?T
Page 15 and 16: Required=ResultsMcGraw-Hill Connect
Page 17 and 18: AcknowledgmentsFirst and foremost,
Page 19 and 20: xviiiBrief ContentsChapter 14Auditi
Page 21 and 22: xxTable of ContentsOrganizations Th
Page 23 and 24: xxiiTable of ContentsUnderstanding
Page 25 and 26: xxivTable of ContentsThe Major Func
Page 27 and 28: xxviTable of ContentsAuditing Stand
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Page 33 and 34: CHAPTER1LEARNING OBJECTIVESUpon com
Page 35 and 36: 4 Part 1 Introduction to Assurance
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To the StockholdersEarthWear Clothi
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CHAPTER2LEARNING OBJECTIVESUpon com
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38 Part 1 Introduction to Assurance
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Risk AssessmentMajor Phases of an A
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Chapter 4 Risk Assessment 101∙ Co
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Chapter 4 Risk Assessment 103FIGURE
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Chapter 4 Risk Assessment 105Audito
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Chapter 4 Risk Assessment 109Intern
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Chapter 4 Risk Assessment 111Audito
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Chapter 4 Risk Assessment 113TABLE
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Chapter 4 Risk Assessment 115EXHIBI
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Chapter 4 Risk Assessment 119EXHIBI
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Chapter 4 Risk Assessment 121Risk a
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Chapter 4 Risk Assessment 125LO 4-4
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Chapter 4 Risk Assessment 127materi
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Evidence and DocumentationMajor Pha
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PART THREEUnderstanding and Auditin
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Internal Control in a FinancialStat
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Chapter 6 Internal Control in a Fin
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PART FOURStatistical and Nonstatist
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Audit Sampling: An Overview andAppl
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CHAPTER10LEARNING OBJECTIVESUpon co
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340 Part 5 Auditing Business Proces
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Auditing the Purchasing ProcessMajo
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Chapter 11 Auditing the Purchasing
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Auditing the Human ResourceManageme
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Chapter 12 Auditing the Human Resou
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TABLE 12-4Segregation of Duties for
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Auditing the Financing/InvestingPro
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PART SIXCompleting the Audit andRep
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Completing the Audit EngagementMajo
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Reports on Audited FinancialStateme
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PART SEVENProfessional Responsibili
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Professional Conduct, Independence,
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APPENDIXAdvanced Module: Profession
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750 Appendix Advanced Module: Profe
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758 IndexAllocation assertion—Con
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760 IndexAuditing Standards (AUs)
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762 IndexCivil liability—ContSarb
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764 IndexControl risk (CR) assessme
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766 IndexEntity—Contpublicly held
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768 IndexFlowcharts—Contrevenue p
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770 IndexInstitute of Internal Audi
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772 IndexLong-term debtauditing, 50
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774 IndexPayroll accountsaudit find
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776 IndexReclassifications, changes
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778 IndexSarbanes-Oxley Public Comp
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780 IndexSunbeam Corporation, 367,
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William Messier Jr, Steven Glover, Douglas Prawitt - Auditing &amp; Assurance Services_ A Systematic Approach-McGraw-Hill Education (2016)

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William Messier Jr, Steven Glover, Douglas Prawitt - Auditing & Assurance Services_ A Systematic Approach-McGraw-Hill Education (2016)