Audit and Accounting Manual: Nonauthoritative Practice Aid, 2019

  • 16h 25m
  • AICPA
  • John Wiley & Sons (US)
  • 2019

This comprehensive, step-by-step guide provides a plain-English approach to planning and performing audits. In this handy resource, accountants and auditors will find updates for the issuance of SAS No. 132, The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern, with illustrative examples, sample forms and helpful techniques ideal for small- and medium-sized firms

Key Features include:

  • Comprehensive and step-by-step guidance on the performance of an audit
  • Numerous alerts that address the current-year developments in a variety of areas
  • Illustrative examples and forms to facilitate hands-on performance of the audit

In this Book

  • Introduction
  • How to Use the Audit and Accounting Manual
  • Understanding the Assignment
  • Planning the Engagement
  • Assigning Personnel to the Engagement and Supervision
  • Independence
  • Obtaining an Understanding of the Entity and Its Environment
  • Obtaining an Understanding of Internal Control
  • Assessing the Risks of Material Misstatement
  • Materiality and Misstatements Identified During the Audit
  • Fraud
  • Illegal Acts
  • Analytical Procedures
  • Audit Budget Samples
  • Sample Engagement Letters
  • Introduction
  • Internal Control Framework
  • Audit Evidence and Designing Further Audit Procedures
  • Performing Tests of Controls
  • Performing Substantive Procedures
  • Audit Sampling Considerations
  • Suggested Supplemental Reference Materials
  • Audit Documentation—General
  • Form, Content, and Extent of Audit Documentation
  • Organization and Filing (Indexing)
  • External Confirmations and Correspondence
  • Requests for External Confirmations and Related Materials
  • Litigation, Claims, and Assessments and Inquiries to Legal Counsel
  • Written Representations and Representation Letters
  • Communication With Management and Those Charged With Governance
  • Reliance Letter
  • Proposal Letter
  • General Accounting and Auditing Developments—2018/19
  • Overview—Auditor’s Report
  • Unmodified Opinions
  • Modified Opinions
  • Material Misstatements
  • Inability to Obtain Sufficient Appropriate Audit Evidence
  • Additional Communications in the Auditor’s Report—Emphasis-of-Matter Paragraphs
  • Additional Communications in the Auditor’s Report—Other-Matter Paragraphs
  • Special Considerations in the United States
  • Special Purpose Frameworks
  • Comparative Financial Statements
  • Initial Audit Engagements
  • Single Financial Statement and Specific Elements, Accounts, or Items
  • Reporting on Compliance With Aspects of Contractual Agreements or Regulatory Requirements in Connection With Audited Financial Statements
  • Engagements to Report on Summary Financial Statements
  • Group Audits
  • Quality Control—General
  • Practice Aid Establishing and Maintaining a System of Quality Control for a CPA Firm’s Accounting and Auditing Practice — For Small- and Medium-Sized Firms
  • Practice Aid Establishing and Maintaining a System of Quality Control for a CPA Firm’s Accounting and Auditing Practice — For Sole Practitioners
  • Statement on Quality Control Standards
  • “Alternative Practice Structures” Interpretation of the “Independence Rule”
  • Sample Quality Control Forms
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