100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Solution Manual For Auditing & Assurance Services: A Systematic Approach, 12th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version $17.99
Add to cart

Exam (elaborations)

Solution Manual For Auditing & Assurance Services: A Systematic Approach, 12th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version

 0 purchase
  • Course
  • Solution
  • Institution
  • Solution

Solution Manual For Auditing & Assurance Services: A Systematic Approach 12th Edition Pdf Chapters Download Solution Manual For Auditing & Assurance Services: A Systematic Approach 12th Edition Pdf Download Stuvia Solution Manual For Auditing & Assurance Services: A Systematic Approach 12th Edition...

[Show more]

Preview 4 out of 236  pages

  • January 21, 2025
  • 236
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:
  • Solution
  • Solution
avatar-seller
Prose1
1

,• Tableof Contents pr




Chapterpr1:prAnprIntroductionprtoprAssuranceprand prFinancial prStatement prAuditing

pr Chapter pr2: prThe prFinancial prStatementfAuditing prEnvironment

Chapterpr3:prAuditprPlanning,prTypesprofprAuditprTests,prand

Materiality prChapter pr4: prRisk prAssessment
pr




Chapterpr5:prEvidenceprand prDocumentation

Chapter pr6: prInternal prControl prinfa prFinancial prStatementfAudit

pr Chapterpr7:prAuditingprInternal prControl proverprFinancial prReporting

Chapter pr8: prAudit prSampling: prAn prOverview prand prApplicationftofTests prof prControls

pr Chapterpr9:prAuditprSampling: prAnprApplication prtoprSubstantiveprTests profprAccount prBalances

pr Chapter pr10: prAuditingfthe prRevenue prProcess

Chapter pr11: prAuditingfthe prPurchasing prProcess

Chapterpr12: prAuditingprtheprHumanfResourceprManagement

Process prChapter pr13: prAuditing prthe prInventory prManagement
pr




pr Process

Chapter pr14: prAuditingprthe prFinancing/Investing prProcess:Prepaid prExpenses, prIntangible prAssets, prand prProperty, prPlant, prand prEqu
prment




Chapter pr15: prAuditingfthe prFinancing/Investing prProcess:Long-
Term prLiabilities, prStockholders’ prEquity, prand prIncome prStatement prAccounts

pr Chapterpr16: prAuditingprthe prFinancing/Investing prProcess: prCashand

Investments prChapter pr17: prCompleting prthefAuditfEngagement
pr




Chapterpr18: prReports pronfAudited prFinancial prStatements

Chapterpr19: prProfessional prConduct, prIndependence, prand prQualityprManagement

pr Chapter pr20: prLegal prLiability
2

,Chapterpr21: prAssurance, prAttestation, prand prInternal prAuditing prServices




3

, CHAPTERf1

AN prINTRODUCTION p r TO p r ASSURANCE p r AND prFINANCIAL prSTATEMENT p r AUDITING

AnswersprtoprReviewprQuestions

1-1 The prstudy prof prauditing pris prmore prconceptual prin prnature prcompared prto prother praccounting
prcourses. prR prather prthan prfocusing pron prlearning prthe prrules, prtechniques, prand prcomputations prrequired

prtof prepare prfinancia prlstatements, prauditing premphasizes prlearning praframeworkfof pranalytical

prandlogicalskillsfto prevaluate prthe p r relevance prand prreliability prof prthe prsystems prand prprocesses

prresponsible prfor prfinancial prinformation, pras prwell prasf the prinformation pritself. prTo prbe prsuccessful,

prstudents prmustflearn prthe prframework prand prthen prlearn prto prusefl progicf and prcommon prsense prin

prapplying prauditing prconcepts prtof variousf circumstances prand prsituations.

Understanding prauditing prcanimprovefthedecision prmaking prability profconsultants,
prbusinessma prnagers, prand praccountants prby prproviding pra prframeworkffor prevaluating prthe

prusefulness prandreliabil prity prof prinformation.



1-2 There pris pra prdemand prfor prauditing prin pra prfree-
market preconomy prbecause prthe pragency prrelationship prbetween pran prabsentee prowner prand pra
prmanager prpro prduces pra prnatural prconflict prof printerestf due prto prthefinformation prasymmetry prthat prexists

prbetween prthe prowner prand prmanager. prAs pra prresult, prtheagentf agrees prto prbe prmonitored prasfpart prof

prhis/her premploymentfcontract. prAuditing prappears prto prbef acost-effective prform prof prmonitoring.

Theempirical p r evidence p r suggestsauditing pr was p r demandedprior

p r togovernmentf regulationsuc p r h pras prstatutory prauditf requirements. prAdditionally, prmany prprivate

prcompanies prand prother prentities prnot prsubje prctf to prgovernment prauditing prregulations pralso prdemand

prauditing.



1-3 The pragency prrelationship prbetween pran prowner prand prmanager prproduces pra prnatural prconflict
prof printe prrest prbecause prof prdifferencesfin prthe prtwo prparties‘ prgoals prand prbecause prof

prinformationfasymmetrythatfexi prsts prbetween prthem. prThat pris, prthe prmanager prgenerally prhasfmore

prinformation praboutf the pr‗true‘financial prpo prsition prand prresultsf of properations prof prthef entity prthan prthe

prabsentee prowner prdoes. prIf prboth prparties prseek prto prm praximize prtheir prown prself-

interest, pritfisflikely prthatfthe prmanager prwill prnot pract prin prthe prbest printerestfof prthe prowner prand prmay
prmanipulate prt prhe prinformation prprovided prto prthe prowner praccordingly.



1-4 Independence prisfan primportantfstandard prfor prauditors. prIf pran prauditor pris prnot prindependent
profthe prc prlient, prusers prmay prlosef confidence prin prthe prauditor‘s prability prto prreport prtruthfully pron prthe

prfinancial prstatements

, prand prthe prauditor‘s prworkfloses prits prvalue. prFrom pran pragency prperspective, prif prthe prprincipal pr(owner)
prknowsf t prhatf theauditor pris prnotf independent, prthe prowner prwill prnot prtrust prthef auditor‘s prwork.

Thus, prtheagentwillnot prhire prtheauditor prbecausethefauditor‘s prreportfwillnotfbeeffective prinreducing prinf
p r ormation prriskf from prthe f perspective prof prthe prowner.




1-5 Auditing pr(broadly prdefined) pris pra prsystematic prprocess prof probjectively probtaining prand
prevaluatin prgevidence prregarding prassertions praboutf economicf actionsfand preventstoascertain

prthedegree prof prcor prrespondence prbetween prthose prassertions prand prestablished prcriteria prand

prcommunicating prthe prresults prt pro printerested prusers.

Assurancefis prengagement prin prwhich pra prpractitioner prexpresses pra prconclusion prdesigned prto
prenha prncethedegreeofconfidence p r of p r theintended p r users p r other p r thantheresponsible p r party

p r aboutthe p r outcom pre prof prthe prevaluation pror prmeasurementf of pra prsubject prmatter pragainstf criteria.

Examples prof prassurance prservices prarefassurance pr(audit) prof prfinancial prstatements,
4

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Prose1. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $17.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

65507 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$17.99
  • (0)
Add to cart
Added