Auditing And Assurance Services Case Study

Arens, A. A., Elder, R. J., Beasley, M. S., Jenkins, J. G., & Arens, A. A. (2003). Essentials of auditing and assurance services: An integrated approach. Upper Saddle River, NJ: Prentice Hall. This textbook describes the audit responsibilities and objectives. It outlines the objectives of performing audits of financial statements and also describes management’s responsibilities during an audit. It also describes all of the auditor’s responsibilities in great detail and gives examples for detecting fraud, errors, and illegal acts. This textbook illustrates the differences of transaction-related audit objectives and balance related audit objectives. To meet the audit objectives, the authors gave a four phase approach and they give specific

It also talks about the impact of laws and regulations that have provisions with direct effect on the financial statements. The responsibility of management with the oversight of those charged with governance to ensure that the entity’s operations are conducted in accordance with the laws and regulations. In addition, this article also talks about the Auditor’s responsibility in identifying material misstatement of the financial statements due to noncompliance with laws and regulations. It is the auditor’s responsible for obtaining reasonable assurance that the financial statements as a whole are free from material misstatement, whether caused by fraud or error. The authors used research methods including their knowledge, experience, and their understanding of the rules and regulations of the auditing and accounting profession. This article gives me information about the responsibilities of the management and the auditors in order to perform an effective audit in accordance with the

Because of the Foreign Corrupt Practices Act of 1977, all firms must have internal controls for their company. The article is broken into many sections including one that describes how audits will change because of the Act. Also, the approach or method an auditor takes requires a change from a cycle approach to a more thorough investigation. Another section explains the responsibilities of management and the auditors during an audit. One section also gives percentages about the different costs companies are forced to incur because of the Sarbanes-Oxley Act. The last sections in the article give some keys and tips to keep in mind when performing audit procedures, especially when testing internal control effectiveness. The authors used their knowledge and their previous experience as a basis of research for this article. Another research method they used was to analyze the Sarbanes-Oxley Act to determine the new changes in the auditing procedures. The article gives an understanding of how to implement the changes by giving helpful hints.

U.S. GAO - Government Auditing Standards 2017 Exposure Draft. (2017, May 25). Retrieved from