Auditing: assurance and risk
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
New York
Routledge
2017
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| Edition: | Fourth edition |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | xxiii, 696 Seiten Illustrationen, Diagramme |
| ISBN: | 9781138692770 |
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| 245 | 1 | 0 | |a Auditing |b assurance and risk |c W. Robert Knechel and Steven E. Salterio |
| 250 | |a Fourth edition | ||
| 264 | 1 | |a New York |b Routledge |c 2017 | |
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| 650 | 7 | |a BUSINESS & ECONOMICS / General |2 bisacsh | |
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| adam_text | Table of Contents Chapter 1 : Assurance and Auditing Outline............................................................................................................. 1 Introduction........................................................ 2 Information, Business, and Global Capital Markets......................................... 2 The Roie of Auditing in an International Economic System........................... 4 The Demand for Assurance: Integrity,Trust, and Risk......................................7 Incentives...............................................................................................8 Ethical principles.................................................................................... 9 The Role of Corporate Governance...................................................... 11 The Role of the External Auditor.......................................................... 12 Differentiating Assurance, Attestation, Auditing, and Accounting............... 14 The Nature of Assurance and Attestation Engagements.................... 17 The Auditing Profession and Regulation........................................................18 Entering the Profession: Education, Training, and Certification........ 19 Organizational Forms of Public Accounting Firms..............................19 Regulating the Auditing Profession.....................................................22 Knowledge and Skills Needed by Auditors in the Twenty-First Century.......23 The Plan of this Book...................................................................................... 24
Summary and Conclusion.............................................................................. 26 Bibliography of Relevant Literature................................................................27 Chapter 2: Managing Risk:The Role of Auditing and Assurance Outline............................................................................................................29 lntr°duction................................................................................................... 30 ^sk Management in a Business Enterprise................................................... 31 The Nature of Risk................................................................................31 Enterprise Risk Management.............................................................. 32 Control Activities for Compliance Risks....................................... 35 Control Activities over Financial Reporting Risks............................... 35 llTlplications of Risk Management for Financial Performance...................... 38
Need for External Assurance as a Component of Risk Management........... 40 Role of Rules, Regulation, and Standards on Risk in the Audit..................... 42 Auditing Standards.............................................................................43 GAAS Audit....................................................................................43 Integrated Audit............................................................................4f Ethical Standards.......... ..................................................................... 47 Objectivity and Independence..................................................... 47 Professional Skepticism................................................................ 50 Quality Control Standards.................................................................. 50 Summary and Conclusion............................................................................ 52 Bibliography of Relevant Literature..............................................................53 Chapter 3: The Building Blocks of Auditing Outline.......................................................................................................... 57 Introduction.................................................................................................58 An Overview of the Auditor s Role............................................................... 59 Management s Assertions............................................................................61 Financial Reporting Assertions.......................................................... 61 Internal
Control Assertions................................................................ 64 The Pervasive Concepts of Auditing: Risk, Materiality, and Evidence...........66 Risk Concepts in Auditing........................................................................... 67 Client Business Risk............................................................................67 Auditor Engagement Risk...................................................................68 Audit Risk...........................................................................................68 Risk of Material Misstatement.............................................................69 Detection Risk.................................................................................... 70 Materiality.................................................................................................... 70 Quantitative Materiality..................................................................... 71 Qualitative Materiality........................................................................71 Evidence Collection in Auditing.................................................................... 72 Risk Assessment................................................................................. 72 Understanding an Organization s Environment and Risks................. 74 Understanding Risk Management and Internal Control over Financial Reporting........................................................................ Preliminary Analytical Procedures...................................................... 74 Tests of
Accounting Information........................................................ 74 Types of Audit Evidence................................................... 75 Competence of Audit Evidence........................................................ 76 The Interrelationship of Risk, Materiality, and Evidence...............................79 Auditor Responsibilities..................................
Reasonable Assurance about Errors and Fraudulent Misstatements....................................................................................80 Internal Control over Financial Reporting.............................................82 Illegal Acts by Clients.............................................................................. 82 Assessment of Going Concern................................................................83 Summary and Conclusion................................................................................. 85 Bibliography of Relevant Literature.................................................................. 85 Chapter 4: The Audit Process Outline................................................................................................................89 Introduction....................................................................................................... 90 Client Acceptance and Retention...................................................................... 90 Factors Affecting Client Acceptability....................................................91 Communication with the Predecessor Auditor.................................... 95 To Accept or Not?.................................................................................... 95 Engagement Letters................................................................................ 96 Preliminary Planning........................................................................................ 100 Obtain a General Understanding of the Client...................................
100 Becoming Familiar with the Organization s Strategic Plan.................101 Obtain a High Level Understanding of Information Processing Systems.......................................................................... 102 Identify New, and Review Known, Problem Areas that May Affect Audit Planning.......................................................................102 Review Board Minutes...................................................................... 103 Review Preliminary Financial Statements......................................103 Identify Key Accounting Policies.................................................... 103 Consider Special Circumstances that May Affect Audit Planning............................................................................................104 Related Party Transactions............................................................... 104 Need for Specialists.......................................................................... 105 Use of Internal Auditors................................................................... 106 Discuss and Assess Fraud Risk and the Risk of Material Misstatement.................................................................................... 107 An Overview of the Audit Process................................................................... 112 Communicating the Results of the Audit.......................................................114 GAAS Audit Opinions............................................................................ 114 Integrated Audit Opinions including Effectiveness of
Interna! Control over Financial Reporting.................................... 117 Summary and Conclusion............................................................................... 119 Bibliography of Relevant Literature................................................................ 119
Chapter 5: Understanding the Client s Industry and Business: Strategic Analysis and Management Controls Outline................................................................................... .......................... ° Introduction...................................................................................................... Knowledge Acquisition for Risk Assessment.................................................. 128 Strategic Risk Analysis............................................................................ 128 Process Risk Analysis.............................................................................. 128 Residual Risk Analysis............................................................................ 129 Understanding a Client s Objectives and Strategies to Achieve Objectives..................................................................................................... ^29 Analyze the Organization s Strategic Plan........................................... 129 The Impact of Strategic Positioning Decisions....................................130 The Impact of Strategic Risk Assessment on Financial Statements and the Audit................................................................................................131 Organizational Business Models...................................................................... 133 Components of an Organizational Business Model........................... 133 An Example of an Organizational Business Model..............................135 Risk Assessment: Strategic
Risks...................................................................... 137 Macro-Environmental Forces (PEST Factors)....................................... 137 Industry Forces (Porter s Five Forces)....................................................138 Strategic Risk Assessment Implications for the Audit.................................... 141 Management Controls.......................................................................................146 Types of Management Control.............................................................. 146 Evaluating Management Controls........................................................ 147 Evidence of Management Controls Mitigating Risk........................... 148 Limitations of Management Control................................................... 150 Linking Strategic Risks to Business Processes.................................................151 Summary and Conclusion................................................................................ 152 Bibliography of Relevant Literature................................................................. 153 Chapter 6: Understanding the Client s Industry and Business: Processes and Process Controls Outline............................................................................................................... . Introduction....................................................................................................... Internal Operationsand Business Processes.................................................. 157 Primary
Processes..................................................................................... Support Processes..................................................................................I60 Linking Strategic Risks to Business Processes................................................ 162 An Overview of Process Analysis..................................................................... 150 Process Maps........................................................................ 167
Process Objectives................................................................................ i 68 Process Activities...................................................................................169 Information Flows................................................................................. 171 Accounting Impact of Process Activities..............................................172 Risk Assessment: Process Risks........................................................................ 175 People Risks........................................................................................... 175 Direct Process Risks................................................................................178 Indirect Process Risks............................................................................ 178 Assessing Process Risks......................................................................... 179 Process Control Activities.................................................................................181 Performance Reviews............................................................................ 183 Physical Controls....................................................................................184 Segregation of Duties............................................................................184 Information Systems and Processing Controls...............................................185 General Controls....................................................................................185 Application
Controls..............................................................................186 Process Controls: Human Resource Management........................................189 Control Effectiveness and Residual Risks........................................................ 190 Summary and Conclusion................................................................................ 191 Bibliography of Relevant Literature.................................................................192 Chapter 7: Risk Mitigation and the Audit: Internal Control over Financial Reporting In A GAAS Audit Outline.............................................................................................................. 195 Introduction......................................................................................................196 Using Internal Control to Mitigate Risk...........................................................197 Management s Fundamental Responsibility for Internal Control.... 198 Internal Control Defined........................................................................198 Components of Internal Control...........................................................199 Levels of Control Activity.......................................................................202 Internal Control and Financial Reporting In a GAAS Audit.......................... 203 The Financial Reporting Process..................................................................... 204 Source Documents and Transactions.................................................. 205
Journals.................................................................................................. 207 Ledgers...................................................................................................207 Financial Statements.............................................................................208 Impact of Information Technology on Financial Reporting.............. 208 The Role of Internal Control over Financial Reporting.................................210 The Auditor s Role in Evaluating Internal Control over Financial Reporting....................................................................................211
Assessing Control Risk......................................................................... Հ|ծ Control Risk and Tests of Financial Statement Assertions...............220 The Auditor s Control Reporting Responsibilities in a GAAS Audit......................................................................................220 An Example of Internal Control Evaluation and Control Risk Assessment..........................................................................*....... *............ ..... Evaluating Internal Control over Financial Reporting...................... 223 Assessing Control Risk......................................................................... 22® Control Risk Assessments and Planned Audit Procedures...............228 Summary and Conclusion.............................................................................. 229 Appendix A: Information Technology and Internal Controls......................231 Impact of Information Technology.................................................... 231 Myths Concerning Information Technology and Internal Control.............................................................................................232 Illustrative Controls in a Computerized Information System...........234 Summary.............................................................................................. 236 Appendix B: Flowcharting Techniques..........................................................236 Overview of Flowcharting................................................................... 236 Key Elements of a
Flowchart...............................................................237 Guidelines for Flowchart Preparation................................................238 Bibliography of Relevant Literature...............................................................239 Chapter 8: Internal Control over Financial Reporting In an Integrated Audit Outline............................................................................................................. 241 Introduction.................. 242 Management’s Responsibility for Internal Control..................................... 243 COSO s Internal Control Defined........................................................ 244 Components of Internal Control........................................................ 245 Control Environment..................................................................... 246 Risk Assessment..............................................................................249 Control Activities............................................................................ 252 Information and Communication.................................................254 Monitoring .................................................................................... 257 Integrating Internal Controls...... .................................................. 258 Applying the COSO Framework.................................................... 259 Consideration of Internal Control over Financial Reporting in an Integrated Audit....................................................................................... .. Classifying
Control Deficiencies..........................................................263 Requirement for the Auditor to Plan Internal Control Tests..............264 The Special Role of Entity Level Controls in an Integrated Audit.....265
Assessment of Control Risk: Implications forTests of Financial Statement Assertions...................................................... 266 The Auditor s Reporting Responsibilities in an Integrated Audit..... 268 Management Remediation of Material Weaknesses and Auditor Reporting on such Remediation...................................... 269 Summary and Conclusion............................................................................... 270 Bibliography of Relevant Literature................................................................ 271 Chapter 9: Inquiry and Analytical Evidence Including Auditing of Accounting Estimates Outline..............................................................................................................273 Introduction.....................................................................................................274 A Traditional View of Inquiry Evidence........................................................... 276 A Rigorous Approach to Obtaining Inquiry Evidence................................... 277 Planning Client Inquiries....................................................................... 277 Conducting Client Inquiries.................................................................. 280 Introduction to Analysis...................................................................................281 Preliminary Analytical Procedures Example....................................... 283 Techniques for Obtaining Analytical Evidence................................... 284 Basic Judgmental
Methods................................................................... 285 Advanced Judgmental Methods..........................................................291 A Rigorous Approach to Obtaining Analytical Evidence..............................293 Performing Structured Analysis........................................................... 293 Substantive Analytical Procedures.......................................................296 Potential Pitfalls from Using Analysis as Evidence........................................297 Inquiry and Analysis in Assessing Fraud Risk.................................................299 Inquiry and Analysis for Auditing Accounting Estimates............................. 301 Summary and Conclusion................................................................................304 Appendix: Statistical Methods for Obtaining Analytical Evidence..............305 Overview of Univariate Regression......................................................305 An Application of Regression Analysis to Auditing............................ 306 Consideration of Key Assumptions......................................................311 Bibliography of Relevant Literature................................................................ 312 Chapter 10: Designing Substantive Tests: Responses to Residuai Risks Outline.............................................................................................................. 315 Introduction..................................................................................................... 316 Assertions, Risks,
and Evidence Revisited...................................................... 317 Analyzing Residual Risks Identified from Strategic and Process Analysis.......................................................................................... 319
The Audit Risk Model................................................................................. Risk of Material Misstatement.......................................................... 323 Detection Risk.................................................................................... Applying the Audit Risk Model........................................................ 326 Setting Audit Risk............................................................................. 328 4M Materiality.................................................................................................. Overall Materiality............................................................................ 329 Performance Materiality.................................................................. 331 Qualitative Considerations in Setting Materiality............................332 Allocation of Materiality to Accounts.............................................. 333 Determining the Nature, Extent, and Timing of Substantive Testing....................................................................................................334 Appropriateness of Audit Evidence............................................................333 An Example: Linking Residual Risk Assessments to Tests of Management Assertions....................................................................... 338 Developing the Audit Plan for Tests of Management Assertions..............341 Selecting Effective and Efficient Audit Procedures to Test
Assertions............................................................................ 342 Segmenting the Audit Plan............................................................. 343 The Substantive Audit Program.......................................................346 Special Issues Related to Tests of Accounting Estimates.....................................................................................350 Summary and Conclusion.......................................................................... 352 Bibliography of Relevant Literature............................................................352 Chapter 11 : Audit Testing for the Sales and Customer Service Process Outline........................................................................................................ 355 Introduction............................................................................................... 356 An Overview of Objectives and Activities Related to Sales and Customer Service........................................................................... 359 Process Objectives...........................................................................359 Process Activities............................................................................. 361 Transactions Arising from Sales and Customer Service Process............................................................................363 Risk Assessment for Sales and Customer Service...................................... 366 Analysis of Process Controls.............................................................368 Entity
Level Controls over Sales and Customer Service............................. 369 Analysis of Internal Control over Financial Reporting................................ 372 Testing Internal Control over Financial Reporting........................... 375 Control Tests of Sales Transactions...................................................376
Conclusions about Residual Risks from Sales and Customer Service................................................................................ 377 Identifying Significant Residual Risks.....................................................377 Planning Tests of Management Assertions: Revenue and Accounts Receivable...................................................................................................... .. Substantive Analytical Procedures......................................................... 379 Substantive Tests of Sales Transactions................................................. 381 Substantive Tests of the Aged Receivables Trial Balance..................................................................................................Յ8Յ Confirmations............................................................................................Յ8Յ Cut-Off Tests.............................................................................................. 387 Tests of Revenue Recognition..................................................................387 Tests of Accounting Estimates: Uncollectible Amounts......................389 Summary and Conclusion....................................................................................390 Appendix A: Planning Tests of Financial Statement Assertions Related to Cash Balances............................................................................... 391 Tests of Cash Receipts............................................................................... 393 Bank
Confirmations...................................................................................393 Bank Reconciliations.................................................................................393 Proof of Cash..............................................................................................395 Tests of Interfund Transfers...................................................................... 397 Conclusion................................................................................................. 398 Appendix B: An Overview of Working Paper Documentation Techniques.......................................................................................................398 The Need for Documentation..................................................................398 Audit Documentation Identification......................................................400 Paperless Audits.........................................................................................400 Documentation Referencing................................................................... 401 Cross References........................................................................................401 Tickmarks.................................................................................................... 402 Conclusion................................................................................................. 403 Bibliography of Relevant Literature................................................................... 403 Chapter 12: Audit Testing for the Supply Chain and Production
Process Outline................................................................................................................... 407 Introduction.......................................................................................................... 408 An Overview of Objectives and Activities Related to Supply Chain and Production Management...................................................................... 411 Process Objectives................................................................................... 411 Process Activities...................................................................................... 413
Transactions Arising from Supply Chain and Production Management...................................................................... 416 Purchases.......................................................................................... 418 Ճ10 Disbursements................................................................................. 1 Production........................................................................................419 Risk Assessment for Supply Chain and Production Management............420 Analysis of Process Controls.............................................................423 Entity Leve) Controls Affecting Supply Chain and Production Management Process............................................................................ 426 Analysis of Internal Control over Financial Reporting................................427 Testing Internal Control over Financial Reporting...........................430 Conclusions about Residual Risks from Supply Chain and Production Management............................................................432 Identifying Significant Residual Risks.............................................. 433 Planning Tests of Management Assertions: Purchases and Accounts Payable...................................................................................434 Substantive Analytical Procedures..................................................434 Tests of Purchase and Disbursement Transactions......................... 436 Tests of Accounts Payable Trial Balance.......................................... 438 Tests for Unrecorded
Liabilities........................................................438 Confirmation of Payables.................................................................438 Planning Tests of Management Assertions: Inventory.............................. 440 Substantive Analytical Procedures..................................................442 Tests of Inventory Purchases, Conversion, and Movement............. 443 Inspection or Observation of the Inventory Count......................... 444 Inventory Price Tests and Tests of Estimates: Obsolescence........... 447 Tests of Inventory Compilation....................................................... 448 Cut-Off Tests.....................................................................................448 Summary and Conclusion.......................................................................... 448 Bibliography of Relevant Literature............................................................450 Chapter 13: Auditing Resource Management Processes Outline.......................................................................................................... Introduction............................................................................................... .. Part A: Auditing the Property Management Process................................. 456 Process Map..................................................................................... .. Internal Threat Analysis.................................................................... 460 Analysis of Internal Control over Financial Reporting..................... 460 Evaluation
of Process Performance Indicators.................................463 Tests of Financial Statement Assertions: Property, Plant, Equipment, Intangible Assets, and Depreciation................................. 463
Substantive Analytical Procedures...................................................... 465 Tests of Valuation and Allocation Including Tests for Asset Impairment.............................................................................466 Tests of Transactions............................................................................. 468 Part B: Auditing the Financial Management Process.....................................469 Process Map...........................................................................................469 Internal Threat Analysis.........................................................................473 Analysis of Internal Control over Financial Reporting........................ 473 Evaluation of Process Performance Indicators.................................. 476 Tests of Financial Statement Assertions: Investments, Borrowed Funds, and Equity.............................................................................. :...... 477 Substantive Tests for Investments........................................................477 Substantive Tests for Borrowed Funds.................................................481 Substantive Tests for Equity.................................................................. 483 Summary and Conclusion............................................................................... 485 Appendix: Substantive Tests for Transactions and Accounts in Human Resource Management................................................................. 486 Human Resource
Transactions............................................................. 487 Tests of Financial Statement Assertions: Payroll and Accrued Liabilities............................................................................ 487 Tests of Transactions.............................................................................. 491 Substantive Analytical Procedures.......................................................493 Cut-Off Tests.......................................................................................... 493 Confirmation of Obligations................................................................. 494 Bibliography of Relevant Literature................................................................ 495 Chapter 14: Completing the Audit I: Finai Evidence Aggregation and Analysis Outline.............................................................................................................. 499 Introduction..................................................................................................... 500 An Overview of Final Evidence Aggregation and Finalization of the Financial Statements.................................................................................. 501 Group Audits or Audits of Consolidated Financial Statements Consolidation Issues..............................................................................503 Part of an Audit Performed by a Different Auditor.............................504 Final Analytical Review—Business Measurement Analysis......................... 506 Evaluating Performance: Financial Performance
Measures.......................................................................................... 507 Evaluating Performance: Nonfinancial Performance Measures.......................................................................................... 508 Business Measurement Analysis Based on the Balanced Scorecard......................................................................... 509
Evaluation of Potential Going Concern Issues............................. .............512 Assessing the Risk of Financial Failure.............................................513 Considering Management Responses to Going Concern Threats........................................................................................ 514 Accounting Choices and the Quality of Earnings...................................... 516 The Impact of Accounting Choices, Policies, and Procedures.... ....518 Seven Ways Accounting Choices Can Lower Earnings Quality.......519 Assessing Earnings Quality............. *......................... ......................520 Completion Procedures....................................................................... 521 Review for Contingent Liabilities..................................................... 522 Attorney (Legal) Confirmations........................... 524 Review of Subsequent Events.......................................................... 526 Representation Letters..................................................................... 528 Final Evidence in Integrated Audits about Internal Control over Financial Reporting............................................................................... 531 Final Evaluation of Audit Evidence..............................................................532 Evaluation of Presentation and Disclosure Assertions.................... 532 Review of Accounting Estimates...................................................... 533 Review of Audit Documentation andConclusions......................... 535 Client
Negotiation and Resolution of Misstatements..................... 535 Final Technical Review...................................................................... 538 Summary and Conclusion...........................................................................539 Bibliography of Relevant Literature............................................................539 On-line Appendix: Comprehensive Approach to Business Measurement: An Example Chapter 15: Completing the Audit II: Audit Reporting Outline........................................................................................................ 543 Introduction................................................................................................544 Communications of Audit Results to Those Charged with Governance and Management..............................................................545 Formal Reporting to the Audit Committee or Those Charged With Governance ......................................................... 546 Reports on Internal Control Issues Discovered as Part of the GAAS Audit........................................................................... 550 Reporting Matters to Audit Committees about the Effectiveness of Internal Control over Financial Reporting as Part of an Integrated Audit.............................................. 551 Management Letters........................................................................ 55I External Communication of Audit Results................................................. 552 Components of an Auditor s Report in aGAAS
Audit.......................553 Types of Opinions...............................................................................
Key Audit Matters..................................................................................571 Audit Reporting in an Integrated Audit............................................. 574 Group Audit Reporting Where There Is a Significant Component Auditor.........................................................................585 Discovery of a Misstatement in the Financial Statements after the Auditor’s Report and Financial Statements have been Released........... 586 Future Changes to the Integrated Audit Report.................................587 Summary and Conclusion............................................................................... 587 Bibliography of Relevant Literature................................................................ 588 On-line Appendix: Auditor s Report for GAAS Audits under IAASB Standards (2007-2016) Chapter 16:The Ethical Auditor: Factors Affecting Auditor Decision Making Outline..............................................................................................................591 Introduction..................................................................................................... 592 Auditing as a Profession................................................................................... 593 Auditing as an Ethical Judgment Process.......................................................594 Ethics and Judgment............................................................................ 595 Professional Audit Judgment and Ethical Decision
Making..............................................................................................595 Threats to the Quality of Individual Auditor Judgment................................598 Concerns about Bias in Individual Professional Judgment............... 599 Concerns about Ethical Reasoning in Individual Professional Judgment..........................................................................................602 Reducing Ethical Dilemmas and Judgment Biases among Professionals.....................................................................................605 Institutional Forces that Reinforce Ethical Auditor Judgment..................... 606 A Codes of Ethics for Professional Accountants................................. 607 Rules Regarding Auditor Independence............................................. 608 Audit Firm and Audit Partner Rotation................................................618 Auditing Standards................................................................................621 Audit Quality Framework and Indicators............................................ 622 Audit Firm Quality Control Standards................................................. 624 Peer Reviews and Practice Inspections............................................... 625 Institutional Forces that Punish Lapses in Auditor Judgment..................... 627 Regulatory Intervention.......................................................................627 Legal Liability: Overview.......................................................................627 Legal Liability:
Common Law...............................................................628 Legal Liability: Statutory Law...............................................................635 Legal Prosecution: Criminal Law......................................................... 639
Summary and Conclusion............... Bibliography of Relevant Literature Chapter 17: Interpreting Sample-Based Audit Evidence Outline...................................................................................................... ..645 Introduction............................................................................................ ..646 The Role of Sampling in an Audit.......................................................... ..647 Selecting a Sample for Audit Testing.................................................... ..649 Population of Prenumbered Documents.................................. „649 A Technique for Refining Sample Selection: Stratified Sampling................................................................................. „656 Other Types of Populations......................................................... .656 Tests of Process Controls and Transactions: Attribute Sampling and Sample Evaluation............................................................................. .657 Step 1 : Identify the Audit Procedure and the Purpose of the Test..................................................................................... .658 Step 2: Define the Population and Sample Unit....................... .658 Step 3: Define the Deviation Conditions................................... .658 Step 4: Specify the Tolerable Deviation Rate (TDR).................. .659 Step 5: Specify the Acceptable Risk of Overreliance (ARO) on Controls............................................................................... 659 Step 6: Estimate the Expected
Deviation Rate (EDR)................ 660 Step 7: Determine the Sample Size (n)....................................... 660 Step 8: Select the Sample............................................................ 661 Step 9: Perform the Audit Procedure and Document the Results............................................................................... 662 Step 10: Generalize the Sample Results to the Population...... 663 Step 11 : Analyze Individual Deviations...................................... 664 Step 12: Conclude Whether the Assertion Tested is Acceptable........................................................................................665 Tests of Account Balance Details: Dollar Unit Sampling............................. 666 Step 1 : Identify the Audit Procedure and Purpose of the Test......... 667 Step 2: Define the Population and Sample Unit................................ 667 Step 3: Define the Error Conditions Applicable to the Audit Procedure............................................................................... 668 Step 4: Specify the Tolerable Error Level (TEL)................................... 668 Step 5: Specify the Acceptable Risk of Incorrect Acceptance (ARIA)........................................................................... 668 Step 6: Estimate the Expected Error Level (EEL) and the Expected Tainting Factor (ETF)....................................................... 668 Step 7: Determine the Sample Size (ri)................................................669 Step 8: Select the
Sample.......................................................................
Step 9: Perform the Audit Procedure and Document the Results... 672 Step 10: Generalize the Sample Results to the Population............... 672 Step 11: Analyze Individual Errors........................................................673 Step 12: Conclude Whether the Account Balance Tested is Acceptable........................................................................................674 Judgmental Approaches to Sampling............................................................ 675 Common Errors in Sampling............................................................................677 Summary and Conclusion.............. 678 Bibliography of Relevant Literature.................................................................678 Index................................................................................................................683
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| any_adam_object | 1 |
| author | Knechel, W. Robert Salterio, Steven E. |
| author_GND | (DE-588)170322548 |
| author_facet | Knechel, W. Robert Salterio, Steven E. |
| author_role | aut aut |
| author_sort | Knechel, W. Robert |
| author_variant | w r k wr wrk s e s se ses |
| building | Verbundindex |
| bvnumber | BV043899786 |
| classification_rvk | QQ 530 |
| ctrlnum | (OCoLC)992541436 (DE-599)BVBBV043899786 |
| discipline | Wirtschaftswissenschaften |
| edition | Fourth edition |
| format | Book |
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| id | DE-604.BV043899786 |
| illustrated | Illustrated |
| indexdate | 2024-07-10T07:37:59Z |
| institution | BVB |
| isbn | 9781138692770 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-029309065 |
| oclc_num | 992541436 |
| open_access_boolean | |
| owner | DE-2070s DE-11 DE-20 DE-473 DE-BY-UBG |
| owner_facet | DE-2070s DE-11 DE-20 DE-473 DE-BY-UBG |
| physical | xxiii, 696 Seiten Illustrationen, Diagramme |
| publishDate | 2017 |
| publishDateSearch | 2017 |
| publishDateSort | 2017 |
| publisher | Routledge |
| record_format | marc |
| spelling | Knechel, W. Robert Verfasser (DE-588)170322548 aut Auditing assurance and risk W. Robert Knechel and Steven E. Salterio Fourth edition New York Routledge 2017 xxiii, 696 Seiten Illustrationen, Diagramme txt rdacontent n rdamedia nc rdacarrier BUSINESS & ECONOMICS / General bisacsh Wirtschaft Revision Wirtschaft (DE-588)4049674-0 gnd rswk-swf Wirtschaftsprüfung (DE-588)4066505-7 gnd rswk-swf Revision Wirtschaft (DE-588)4049674-0 s DE-604 Wirtschaftsprüfung (DE-588)4066505-7 s Salterio, Steven E. Verfasser aut Erscheint auch als Online-Ausgabe 978-1-31553-173-1 Digitalisierung UB Bamberg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029309065&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Knechel, W. Robert Salterio, Steven E. Auditing assurance and risk BUSINESS & ECONOMICS / General bisacsh Wirtschaft Revision Wirtschaft (DE-588)4049674-0 gnd Wirtschaftsprüfung (DE-588)4066505-7 gnd |
| subject_GND | (DE-588)4049674-0 (DE-588)4066505-7 |
| title | Auditing assurance and risk |
| title_auth | Auditing assurance and risk |
| title_exact_search | Auditing assurance and risk |
| title_full | Auditing assurance and risk W. Robert Knechel and Steven E. Salterio |
| title_fullStr | Auditing assurance and risk W. Robert Knechel and Steven E. Salterio |
| title_full_unstemmed | Auditing assurance and risk W. Robert Knechel and Steven E. Salterio |
| title_short | Auditing |
| title_sort | auditing assurance and risk |
| title_sub | assurance and risk |
| topic | BUSINESS & ECONOMICS / General bisacsh Wirtschaft Revision Wirtschaft (DE-588)4049674-0 gnd Wirtschaftsprüfung (DE-588)4066505-7 gnd |
| topic_facet | BUSINESS & ECONOMICS / General Wirtschaft Revision Wirtschaft Wirtschaftsprüfung |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029309065&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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