Auditing Theory and Practice

Auditing and Assurance Services Fourteenth Edition Solutions Manual CONTENTS I. THE AUDITING PROFESSION 1 The Demand for Audit and Other Assurance Services ................. 1-1 2 The CPA Profession ......................................................... 2-1 3 Audit Reports ................................................................. 3-1 4 Professional Ethics .......................................................... 4-1 5 Legal Liability ................................................................. 5-1 II. THE AUDIT PROCESS 6 Audit Responsibilities and Objectives ..................................... 6-1 7 Audit Evidence ............................................................... 7-1 8 Audit Planning and Analytical Procedures ................................ 8-1 9 Materiality and Risk ......................................................... 9-1 10 Section 404 Audits of Internal Control and Control Risk ................ 10-1 11 Fraud Auditing ............................................................... 11-1 12 The Impact of Information Technology on the Audit Process .......... 12-1 13 Overall Audit Plan and Audit Program .................................... 13-1 III. APPLICATION OF THE AUDIT PROCESS TO THE SALES AND COLLECTION CYCLE 14 Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions ................................... 14-1 15 Auditing Sampling for Tests of Controls and Substantive Tests of Transactions ................................... 15-1 16 Completing the Tests in the Sales and Collection Cycle: Accounts Receivable ........................................................ 16-1 17 Audit Sampling for Tests of Details of Balances ......................... 17-1 IV. APPLICATION OF THE AUDIT PROCESS TO OTHER CYCLES 18 Audit of the Acquisition and Payment Cycle: Tests of Controls, Substantive Tests of Transactions, and Accounts Payable ...................................................... 18-1 19 Completing the Tests in the Acquisition and Payment Cycle: Verification of Selected Accounts .......................................... 19-1 20 Audit of the Payroll and Personnel Cycle ................................. 20-1 21 Audit of the Inventory and Warehousing Cycle .......................... 21-1 22 Audit of the Capital Acquisition and Repayment Cycle ................. 22-1 23 Audit of Cash Balances ..................................................... 23-1 V. COMPLETING THE AUDIT 24 Completing the Audit ........................................................ 24-1 VI. OTHER ASSURANCE AND NONASSURANCE SERVICES 25 Other Assurance Services .................................................. 25-1 26 Internal and Governmental Financial Auditing and Operational Auditing ................................................... 26-1

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