Principles of External Auditing has become established as one of the leading textbooks for students studying auditing. Striking a careful balance between theory and practice, the book describes and explains, in non-technical language, the nature of the audit function and the principles of the audit process. The book covers international auditing and accounting standards and relevant statute and case law. It explains the fundamental concepts of auditing and takes the reader through the various stages of the audit process. It also discusses topical aspects of auditing such as legal liability, audit risk, quality control, and the impact of information technology. Brenda Porter is currently visiting Professor at Exeter University and Chulalongkorn University, Bangkok.

InhaltsangabeSECTION 1: THE SOCIAL ROLE OF AUDITING What is Auditing? The Development of Auditing and Audit Objectives SECTION 2: CONCEPTUAL UNDERPINNING OF THE AUDIT PROCESS A Framework of Auditing Concepts Threats to, and Safeguarding of, Auditors' Independence SECTION 3: REGULATORY FRAMEWORK OF AUDIT PRACTICE Auditors' Legal, Regulatory and Professional Responsibilities Auditors' Duties with Respect to Fraud and Non-compliance with Laws and Regulations SECTION 4: ADMINISTRATIVE ASPECTS OF THE AUDIT PROCESS Overview of the Audit Process, Audit Evidence, Staffing and Documenting an Audit SECTION 5: THE AUDIT PROCESS Commencing an Audit: Engagement Procedures, Understanding the Client and Identifying Risks Planning the Audit: Materiality and Audit Risk Internal Control and the External Audit Testing Financial Statement Assertions: Substantive Testing Audit Sampling and Computer-assisted Auditing Techniques (CAATs) Completion and Review Auditors' Reports to Users of Financial Statements and to Management SECTION 6: IMPORTANCE OF ENSURING HIGH QUALITY AUDITS Legal Liability of Auditors Avoiding and Limiting Auditors' Liability SECTION 7: TOPICAL AND EMERGING ISSUES Corporate Responsibility Assurance Engagements Future Developments Index

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