Textbook

Modern Auditing, 3rd Edition

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Overview

Modern Auditing offers the reader a thorough coverage of the practice of auditing in context of auditing theory and concepts, and the professional responsibilities of the independent auditor. The structure of the book develops the auditing process in a logical and sequential manner, enabling students to progressively consolidate their understanding of the concepts and processes without excessive detail or repetition.

Table of Contents

Preface

CHAPTER 1

Auditing and the public accounting profession

CHAPTER 2

Financial statement audits

CHAPTER 3

Professional ethics

CHAPTER 4

Auditors’ legal liability

CHAPTER 5

Audit risk and audit evidence

CHAPTER 6

Accepting the engagement and planning the audit

CHAPTER 7

Internal control and control risk assessment

CHAPTER 8

Audit sampling

CHAPTER 9

Designing substantive procedures

CHAPTER 10

Auditing sales and trade receivables (debtors)

CHAPTER 11

Auditing purchases, trade payables (creditors) and payroll

CHAPTER 12

Auditing inventory (stocks) and tangible non-current assets (fixed assets)

CHAPTER 13

Auditing cash and investments

CHAPTER 14

Completing the audit

CHAPTER 15

Reporting on audited financial statements

CHAPTER 16

E-commerce and auditing

CHAPTER 17

Contemporary issues in auditing

Answers to multiple-choice questions

Suggested answers to professional application questions

Glossary

Index

Excerpts

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Author Information

Graham Cosserat is now retired following a career that included 30 years’ experience in teaching auditing at Kingston University, the University of Technology, Sydney and Nottingham Trent University. He also worked as an examiner in auditing for the ACCA (Association of Chartered Certified Accountants).

Neil Rodda is a Senior Lecturer at Manchester Metropolitan University where he has taught courses in auditing and financial reporting since 1991. He also has considerable professional experience including work as an audit manager for KPMG and as a director of an enterprise agency. Neil Rodda has also worked with the ACCA both as a marker of professional examinations and as an author of various study materials.

New To This Edition

Thorough update, including:

Coverage of key new standards produced by the IAASB
Discussion of increasing importance of role of IFAC
Update on companies legislation and regulation
Review of developments in ethical codes

Hallmark Features

A Strong pedagogical framework that includes chapter overviews, learning objectives, case studies, review questions and professional application questions.
Comprehensive and integrated coverage of the latest developments in the environment and methodology of auditing.
A chapter on e-commerce and its implication for control and audit
Wholly compliant with international accounting and auditing standards
A companion website featuring an instructors manual and PowerPoint slides