If you're in business or a business major, audits will happen. Business and accounting students or professionals involved in finances and accounting, often have a range of reactions to an audit. Our experienced author, professor and consultant Michael Griffin, MBA, CMA, CFM, ChFC details the auditing process in a streamlined bullet pointed 6-page laminated reference guide that provides a road map from start to finish with all stops in between.
6-page laminated guide includes:
- What is an Audit?
- Overall Objective of an Auditor
- Assertions
- Assurance Services
- Major Steps of an Audit
- Financial Statement Audit
- Generally Accepted Auditing Standards
- Auditor's Report
- Sample Auditor's Report
- Compilation
- Review
- Engagement Acceptance
- Understanding the Client/Entity & Its Environment
- Review of Litigation, Claims &Assessments
- Contingent Liabilities
- Related Party Transactions
- Internal Control
- Receipt of Cash from Customers
- Performing Audit Procedures & Evaluating Evidence
- Audit Sampling
- Analytical Procedures
- Ratio Analysis
- Internal Audit
- Use of Specialists in an Audit
- Auditing the Revenue (Sales) Cycle
- Auditing the Purchases & Cash Disbursements Cycle
- Other Processes Subject to Audit
- Sarbanes-Oxley Act of 2002 (SOX 2002)