Updated as of June 1, 2014, this valuable resource provides a plain English approach to conducting an audit. This one-stop-shop summarizes applicable requirements and delivers “how-to” advice to help practitioners plan and perform an audit. It provides illustrative examples, sample forms, and helpful techniques that small-and medium-size firms need to streamline their audit engagements.
Audit planning and documentation guidelines, including guidance on risk assessment and internal controls
Sample audit materiality worksheets, correspondence, external confirmations, and written representations
Illustrative engagement letters, external confirmations, and auditor’s reports that practitioners can utilize during their engagements.
Templates for client assistance requests, time budgets, and audit file organization.
Guidance on quality control and a full reprint of AICPA’s Practice Aid, Establishing and Maintaining a System of Quality Control for a CPA Firm’s Accounting and Auditing Practice
And much more
In addition, this edition includes 4 Audit Risk Alerts, which are designed to update CPAs on recent practice issues and professional standards and aid in identifying significant business risks that may result in the material misstatement of a client's financial statements. The Audit Risk Alerts include:
General Accounting and Auditing Developments
Understanding the Responsibilities of Auditors for Audits of Group Financial Statements
Compilation and Review Developments
Independence and Ethics Developments
Get even more value with the Audit & Accounting Bundle. This unique bundles offer a full range of applicable content to meet your accounting and auditing needs. Follow the link above for more details.