Synopses & Reviews
Messier employs the audit approach currently being used by auditing professionals. This approach is a direct result of the demands of Sarbanes-Oxley, which has changed the way auditors do their jobs. The approach emphasizes understanding the entity (i.e., the organization or business being audited) and its environment (i.e. industry), and then assessing the business risks faced by the entity and how management controls those risks. This audit process focuses on business processes instead of accounting cycles. This unique and innovative approach has been developed in response to changing market dynamics. The systematic approach, referred to in the subtitle of the text, reflects the early introduction of three basic concepts that underlie the audit process: materiality, audit risk, and evidence; this allows Messier to build upon this model in subsequent chapters. These are central to everything an auditor does and a unique feature of Messier. As such, this approach helps students develop auditor judgment, a vital skill in todays auditing environment.
About the Author
Professor William F. Messier, Jr., is the Deloitte & Touche Professor at the School of Accountancy, Georgia State University. He holds a Professor II position at the Institute for Accounting and Auditing, Norwegian School of Economics and Business Administration, and he is a visiting professor at SDA Bocconi in Milan, Italy. Professor Messier has a BBA from Siena College, an MS from Clarkson University, and an MBA and DBA from Indiana University. He is a CPA in Florida and has taught at the Universities of Florida and Michigan.Professor Messier has served as the Chairperson of the Auditing Section of the American Accounting Association and as co-editor of the Journal of Accounting Literature. He currently serves on the AICPA’s International Auditing Standards Subcommittee. Professor Messier has authored or co-authored over 45 articles in accounting, decision science, and computer science journals.
Table of Contents
PART I: INTRODUCTION TO FINANCIAL STATEMENT AUDITING
Chapter 1: An Introduction to Assurance and Financial Statement Auditing Chapter 2: The Financial Statement Auditing Environment
PART II: BASIC AUDITING CONCEPTS: RISK ASSESSMENT, MATERIALITY, AND EVIDENCE
Chapter 3: Risk Assessment and Materiality
Chapter 4: Audit Evidence and Audit Documentation
PART III: PLANNING THE AUDIT AND UNDERSTANDING INTERNAL CONTROL
Chapter 5: Audit Planning and Types of Audit Tests
Chapter 6: Internal Control in a Financial Statement Audit
Chapter 7: Auditing Internal Control over Financial Reporting in Conjunction with an Audit of Financial Statements
PART IV: STATISTICAL AND NONSTATISTICAL SAMPLING TOOLS FOR AUDITING
Chapter 8: Audit Sampling: An Overview and Application to Tests of Controls
Chapter 9: Audit Sampling: An Application to Substantive Tests of Account Balances
PART V: AUDITING BUSINESS PROCESSES
Chapter 10: Auditing the Revenue Process
Chapter 11: Auditing the Purchasing Process
Chapter 12: Auditing the Human Resource Management Process
Chapter 13: Auditing the Inventory Management Process
Chapter 14: Financing Process: Auditing Prepaid
Expenses and Property, Plant, and Equipment
Chapter 15: Financing process: Auditing Long-Term Liabilities, and Stockholders EquityChapter 16: Financing Process: Auditing Cash and Investments
PART VI: COMPLETING THE AUDIT AND REPORTING RESPONSIBILITIES
Chapter 17: Completing the Engagement Chapter 18: Reports on Audited Financial Statements and on Internal Control over Financial Reporting
PART VII: PROFESSIONAL RESPONSIBILITIES
Chapter 19: Professional Conduct, Independence, and Quality Control Chapter 20: Legal Liability
PART VIII: ASSURANCE, ATTESTATION, AND INTERNAL AUDITING SERVICESChapter 21: Assurance, Attestation, and Internal Auditing Services