Description

Features

For the core Auditing course for accounting majors.

Arens stays ahead of other auditing texts by consistently integrating current developments in the audit profession. Topics appear as they would during the audit planning and execution stage rather than as isolated pieces of information.  

- - - - - - - - - -

"How do you prepare your students to deal with most current auditing topics like Sarbanes-Oxley & SECTION 404 of that act?"

• Arens/Elder/Beasley believe in an integrated approach to learning  important topics like Sarbanes-Oxley and SECTION 404 of that act best prepares students to deal with these topics when they go out into practice. That is, they cover Sarbanes-Oxley & SECTION 404 throughout each phase of an audit. 
  • Integration of SECTION 404 of the Sarbanes-Oxley Act of 2002 and related SEC and PCAOB rulemakings throughout every chapter.
  • Expanded coverage of reporting on internal controls —Integrated into Chapter 10, Internal Control and Control Risk.
    • Examples: see the inside front cover for a comprehensive list of places where Section 404 has been integrated into the stages of an audit.
    • Examples: see "New to this Edition" for a brief listing of integrated topics from Section 404.

OTHER KEY POINTS OF DIFFERENTATION

Q: How do you motivate your students to read the book and come prepared to discuss what they have read?  

 A: Arens/Elder/Beasley believes an integrated approach to an important topic like fraud best motivates students to learn auditing.  For example, not only is there a Fraud Chapter (11), but mid chapter fraud vignettes are integrated throughout each chapter so students see how recent accounting scandals tie into key concepts in each chapter.   

• Revised Fraud Detection Chapter (11) includes expanded coverage.  Reflects changes in auditing profession resulting from recent scandals.
• NEW Mid-chapter fraud vignettes in each chapter.

        Examples: pgs. 199 and 617

Q: How do you show students how concepts are applied in practice?  

A: Arens/Elder/Beasley believes an integrated approach best prepares students to see how concepts are applied in practice. The integrated audit practice case (Pinnacle Manufacturing) spans multiples chapters and  is used to illustrate concepts learned in these chapters.    

• Integrated audit practice case (Pinnacle Manufacturing)—Spans multiple chapters. Students apply concepts addressed in the audit planning and execution phase of the audit.

        Examples: pgs. 227, 441

• 4-color inset on the Hillsburg Hardware Company—Financial statements and background information is expanded to support the company illustrations throughout the text.

New To This Edition

Integration of SECTION 404 of the Sarbanes-Oxley Act of 2002 and related SEC and PCAOB rulemakings throughout every chapter.

• Students learn how SECTION 404 of the Sarbanes-Oxley Act affects each phase of an audit from auditing planning to execution.

NEW Mid -chapter fraud vignettes in each chapter.

The 11^th edition provides extensive, integrated coverage of audits of internal control for public companies required by Section 404 of the Sarbanes-Oxley Act and related auditor responsibilities as outlined in the Public Company Accounting Oversight Board’s (PCAOB’s) Auditing Standard No. 2.  The 10^th edition includes material about Sarbanes-Oxley in several chapters and was current at the time the book was published in March 2004.  However, considerable change has occurred since then, especially dealing with the PCAOB and Section 404 internal control audits. 

In talking with practitioners, it has become clear that the requirements for an integrated audit of financial statements and an audit of internal controls over financial reporting has had the most significant effect on the auditing profession as anything in several decades. In talking with faculty teaching auditing, it has become equally clear that faculty want to be sure their students are up to date on what is happening at the PCOAB and in practice.

We have extensively integrated our coverage of Section 404 audits of internal controls and related Sarbanes-Oxley Act provisions throughout the 11^th edition.  Here is a brief overview of some of the chapters most affected by this new coverage:

Chapters         Chapter Title and Description of New Coverage

1                     The Demand for Audit and Other Assurance Services: 

• This chapter has been entirely restructured to emphasize the impact that the Sarbanes-Oxley Act is having on the auditing profession, particularly the requirements for an integrated audit of financial statements and internal controls. 
• Our opening vignette, featuring the WorldCom fraud, helps students begin to see the connection between recent frauds and the new responsibilities for auditing internal control requirements and other Act requirements.  

2                     The CPA Profession: 

• This chapter has also been restructured to emphasize the lead role that the PCAOB is taking in the regulation of the profession. The chapter contains an entire section featuring the Sarbanes-Oxley Act, with particular emphasis on the responsibilities of the PCAOB, which was created by the Act. 
• We highlight the PCAOB’s standard-setting and oversight responsibilities related to the audits of public companies. We also cover the relation between PCAOB audit standards and existing generally accepted auditing standards issued by the AICPA.

3                      Audit Reports: 

• This chapter highlights the reporting requirements for auditors of public companies. 
• An entire section illustrates requirements related to issuing a combined report on the audit of the financial statements and the audit of internal controls for public companies. 

10                    Section 404 Audits of Internal Control and Control Risk: 

• The chapter title has been changed and new major sections have been incorporated in this chapter to emphasize the new internal control reporting responsibilities.
• PCAOB Auditing Standard No. 2, issued in March 2004, requires that auditors perform an integrated audit of the financial statements and internal controls.  This chapter has been entirely restructured to illustrate the auditor’s consideration of internal control in both the audit of financial statements and the audit of internal control throughout the chapter. 
• We discuss management’s and the auditor’s responsibility to document the design and effectiveness of controls, and the effect of significant deficiencies and material weaknesses on the auditor’s report on internal control.

All                    All Chapters:  We have integrated discussion of implications related to the audit of internal controls throughout all chapters of the text, where appropriate.  Thus, Section 404 audit implications are integrated throughout the book.

It is important to emphasize that our approach to covering Section 404 and the related PCAOB requirements has been to integrate the material throughout relevant sections of the text.  We believe our approach will help professors emphasize coverage of these important professional issues as they cover the entire audit process.  We hope our approach will ultimately improve student understanding of these major professional issues.

Table of Contents

I. THE AUDITING PROFESSION.

1. The Demand for Audit and Assurance Services.

2. The CPA Profession.

3. Audit Reports.

4. Professional Ethics.

5. Legal Liability.

II. THE AUDIT PROCESS.

6. Audit Responsibilities and Objectives.

7. Audit Evidence.

8. Audit Planning and Analytical Procedures.

9. Materiality and Risk.

10. Internal Control and Control Risk.

11. Fraud Detection.

12. The Impact of Information Technology on the Audit Process.

13. Overall Audit Plan and Audit Program.

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.

15. Audit Sampling for Tests of Controls and Substantive Tests of Transactions.

16. Completing the Tests in the Sales and Collection Cycle: Accounts Receivable.

17. Audit Sampling for Tests of Details of Balances.

IV. APPLICATION OF THE AUDIT PROCESS TO OTHER CYCLES.

18. Audit of the Payroll and Personnel Cycle.

19. Audit of the Acquisition and Payment Cycle: Tests of Controls, Substantive Tests of Transactions, and Accounts Payable.

20. Completing the Tests in the Acquisition and Payment Cycle.

21. Audit of the Inventory and Warehousing Cycle.

22. Audit of the Capital Acquisition and Repayment Cycle.

23. Audit of Cash Balances.

V. COMPLETING THE AUDIT.

24. Completing the Audit.

VI. OTHER ASSURANCE AND NON-ASSURANCE SERVICES.

25. Other Audit, Attestation Services, and Compilation Engagements.

26. Internal and Governmental Financial Auditing and Operational Auditing.

Courses

Auditing  (Accounting & Taxation)

Next Edition(s)

• Auditing and Assurance Services, 14/E
  Arens, Elder & Beasley
  ©2012  |  Prentice Hall  |  Cloth; 872 pp  |  Instock
  ISBN-10: 0132575957  |  ISBN-13: 9780132575959
  Suggested retail price: $233.33  Buy from myPearsonStoreNet price: $175.00  (What's this?)Brief Description  | 

  

  For the core auditing course for accounting majors.
  
  An integrated and current approach to auditing.
  
  Auditing and Assurance Services: An Integrated Approach presents an integrated concepts approach that shows students the auditing process from start to finish. This text prepares students for real-world audit decision making by using illustrative examples of key audit decisions, with an emphasis on audit planning, risk assessment processes and collecting and evaluating evidence in response to risks.
   
  The fourteenth edition includes coverage of PCAOB Auditing Standard No. 5, new standards related to communications to those charged with governance (SAS Nos. 114 and 115), and the most up-to-date content in the dynamic auditing environment.
  
  

  More Info
  

• Auditing and Assurance Services: An Integrated Approach, 13/E
  Arens, Elder & Beasley
  ©2010  |  Prentice Hall  |  Cloth; 872 pp  |  Instock
  ISBN-10: 0136084737  |  ISBN-13: 9780136084730
  Suggested retail price: $233.33  Net price: $175.00  (What's this?)Brief Description  | 

  

  For the core auditing course for accounting majors.

   

  Comprehensive integration of the fundamental auditing concepts.

   

  Auditing and Assurance Services: An Integrated Approach presents an integrated concepts approach that shows students the auditing process from start to finish. This text prepares students for real-world audit decision making by using illustrative examples of key audit decisions, with an emphasis on audit planning, risk assessment processes and collecting and evaluating evidence in response to risks.

   

  This edition maintains its dedication to providing the most up-to-date information on new auditing standards and includes international coverage as well as coverage of PCAOB Auditing Standard No. 5. 

  More Info
  

Auditing and Assurance Services: An Integrated Approach

Selected Instructor Resources

Supplement to Arens 11e on ASB Risk Assessment Standards (Word Document)
(0.1MB | doc file | Type: Manuals/Guides)
Brief overview of the recently issued "Risk Assessment SASs" issued by the ASB in March 2006 and newly issued SAS112 issued in May 2006. Two formats, chapter and by SAS number order

Supplement to Arens 11e on ASB Risk Assessment Standards (PowerPoint)
(0.1MB | ppt file | Type: Presentations)
PowerPoint slides as a companion to the Overview

...additional resources available

Companion Website for Auditing and Assurance Services: An Integrated Approach, 11/E
Arens
©2006  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0131866958  |  ISBN-13: 9780131866959
This online resource is available at no cost at http://www.prenhall.com/arens.
More Info

Downloadable Instructor Resources

Show All Downloadable Files

Hide All Downloadable Files

|

Help Downloading Files

Powerpoint Presentation, 11/E
Arens
©2006  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0131866966  |  ISBN-13: 9780131866966

Show Downloadable Files

Hide Downloadable Files

|

More Info

TestGen, 11/E
Arens
©2006  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0131866982  |  ISBN-13: 9780131866980
This online resource is available at no cost.

Show Downloadable Files

Hide Downloadable Files

|

More Info

Back to top

Companion Website for Auditing and Assurance Services: An Integrated Approach, 11/E
Arens
©2006  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0131866958  |  ISBN-13: 9780131866959
This online resource is available at no cost at http://www.prenhall.com/arens.
More Info

Back to top

Companion Website for Auditing and Assurance Services: An Integrated Approach, 11/E
Arens
©2006  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0131866958  |  ISBN-13: 9780131866959
This online resource is available at no cost at http://www.prenhall.com/arens.
More Info

A-1 Photography Practice Set - Manual Version, 3/E
Sineath & Insinga
©1999  |  Prentice Hall  |  Paper; 125 pp  |  Instock
ISBN-10: 0130803103  |  ISBN-13: 9780130803108
Suggested retail price:  $60.00    Buy from myPearsonStoreNet price: $45.00  (What's this?)More Info

Getting Started with Peachtree 8.0
Osteraa
©2002  |  Prentice Hall  |  Paper; 70 pp  |  Instock
ISBN-10: 0130622648  |  ISBN-13: 9780130622648
Suggested retail price:  $28.00    Buy from myPearsonStoreNet price: $21.00  (What's this?)More Info

International Financial Reporting Standards (IFRS) Tips
Pearson
©2010  |  Prentice Hall  |  Access Code Card  |  Instock
ISBN-10: 0136100899  |  ISBN-13: 9780136100898
Suggested retail price:  $7.00    Buy from myPearsonStoreNet price: $5.25  (What's this?)More Info

Math Tips for Accounting
Pearson
©2010  |  Prentice Hall  |  Paper  |  Instock
ISBN-10: 0136112285  |  ISBN-13: 9780136112280
Suggested retail price:  $6.67    Buy from myPearsonStoreNet price: $5.00  (What's this?)More Info

PH Accounting Excel Tips, 6/E
Harrison
©2006  |  Prentice Hall  |  Paper; 1 pp  |  Instock
ISBN-10: 0131499653  |  ISBN-13: 9780131499652
Suggested retail price:  $0.00Net price: $0.00  (What's this?)More Info

Understanding Sarbane-Oxley Act of 2002: Impacting the Accounting Profession
Beasley & Elder
©2005  |  Prentice Hall  |  Paper; 56 pp  |  Instock
ISBN-10: 0131855263  |  ISBN-13: 9780131855267
Suggested retail price:  $46.67    Buy from myPearsonStoreNet price: $35.00  (What's this?)More Info

Back to top

Companion Website for Auditing and Assurance Services: An Integrated Approach, 11/E
Arens
©2006  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0131866958  |  ISBN-13: 9780131866959
This online resource is available at no cost at http://www.prenhall.com/arens.
More Info

Back to top

Pearson Higher Education offers special pricing when you choose to package your text with other student resources. If you're interested in creating a cost-saving package for your students contact your Pearson Higher Education representative.