This is completed downloadable of Auditing An International Approach 8th Edition Smieliauskas Test Bank

Product Details:

ISBN-10 ‏ : ‎ 1259451275
ISBN-13 ‏ : ‎ 978-1259451270
Author: Wally J. Smieliauskas

Continuing its strong approach of providing in-depth coverage of fundamental auditing concepts and techniques, Smieliauskas, Auditing explores current developments affecting the audit profession and practice in Canada and internationally. These developments include the roll-out of the new audit report to go into effect December 15, 2018; new assurance standards and terminology; new code of professional conduct; an increased emphasis on ethical reporting; and a continuing emphasis on risk-based auditing, auditor independence, and the Canadian audit environment.
The eighth edition provides new, unique coverage of the auditing issues related to the new audit report, compliance versus fair presentation reporting, and audits of accounting estimates.

Table of Content:

PART 1: Introduction to Auditing, Public Practice, and Professional Responsibilities
CHAPTER 1: Introduction to Auditing
Learning Objectives
The Essentials of Auditing, Public Practice, and Professional Responsibilities
Introduction: The Concept of Auditing
User Demand for Reliable Information
Definitions of Auditing
International Auditing
Application Case with Solution & Analysis: The AuditorÕs Most Important Quality
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Appendix 1A: How to Become a Professional Accountant in Canada
Appendix 1B: Alternative Theories of the Role of Auditing in Society
Appendix 1C: Describe the Different Kinds of Audits, Auditors, and Audit Firm Organizations
CHAPTER 2: Auditors’ Professional Roles and Responsibilities
Learning Objectives
The Essentials of AuditorsÕ Professional Roles and Responsibilities
The Current Environment of Auditing
Regulation of Public Accounting
Practice Standards
GAAS
Assurance Standards
Quality Control Standards
Application Case with Solution & Analysis: Which of the GAAS Is Most Important?
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Appendix 2A: GAAS of the United States
Appendix 2B: Implementation of Quality Control Standards in Canada
CHAPTER 3: Auditors’ Ethical and Legal Responsibilities
Learning Objectives
The Essentials of AuditorsÕ Ethical and Legal Responsibilities
Introduction
General Ethics
Codes of Professional Ethics
Independence and Objectivity
The Legal Environment and Auditor Legal Responsibilities
Liability under Common Law
Statutory Law Liability
Application Case with Solution & Analysis: Burden of Proof Concept in Law and Auditing
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
Appendix 3A: Framework for Critical Thinking
CHAPTER 4: Reports on Audited Financial Statements
Learning Objectives
The Essentials of Reports on Audited Financial Statements
The Association Framework
AuditorÕs Reports and Variations
Audit Report Reservations
Application Case with Solution & Analysis: Meaning of the Words ÒPresent FairlyÓ in the AuditorÕs
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
PART 2: Basic Auditing Concepts and Techniques
CHAPTER 5: Preliminary Audit Planning: Understanding the AuditeeÕs Business
Learning Objectives
Preview of Parts 2 and 3 of the Text: Planning and Performing the Audit
The Essentials of Preliminary Audit Planning and Understanding the AuditeeÕs Business
The Independent Financial Statement Audit
Independent Audit Engagement Characteristics
Audit Engagement Acceptance Decision
Understanding the AuditeeÕs Business, Environment, and Risks
Preliminary Analytical Procedures for Audit Planning
Materiality Levels for Audit Planning
Documenting the Overall Audit Strategy and Audit Plan
Application Case with Solution & Analysis: Audit Engagement Acceptance Decision
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
Appendix 5A: Example of an Audit Engagement Letter
CHAPTER 6: Assessing Risks in an Audit Engagement
Learning Objectives
The Essentials of Assessing Risks in an Audit Engagement
Business Risk and the Risk of Material Misstatement of the Financial Statements
Financial Statement Assertions and Audit Objectives
The Audit Risk Model and Its Components
Working with the Audit Risk Model
Accounting Processes and the Financial Statements
Application Case with Solution & Analysis: Business Risk Analysis and Audit Implications
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
Appendix 6A: Business Risk Factors Used to Assess the Risk of Material Misstatement
Appendix 6B: Corporate Governance
CHAPTER 7: Internal Control over Financial Reporting
Learning Objectives
The Essentials of Internal Control over Financial Reporting
Understanding Internal Control
How Internal Control Relates to the Risk of Material Misstatement
Fraud Risk Assessment
AuditorsÕ Responsibilities for Detecting Frauds, Errors, and Illegal Acts
Conditions That Make Fraud Possible, Even Easy
Application Case with Solution & Analysis: Overstate the Inventory; Understate the Cost of Goods Sol
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
Appendix 7A: Risk and Internal Control Frameworks
Appendix 7B: Procedures and Documents That Auditors Use for Fraud Detection
CHAPTER 8: Audit Evidence and Assurance
Learning Objectives
The Essentials of Audit Evidence
Evidence-Gathering Audit Procedures
Business Information Sources and Methods
Sufficient Appropriate Evidence in Auditing
Audit Plan and Detailed Programs
Audit Documentation
Application Case with Solution & Analysis: Review of an Audit Plan
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
CHAPTER 9: Control Assessment and Testing
Learning Objectives
The Essentials of Control Assessment and Testing
Internal Control Assessment for Planning the Audit
Management versus Auditor Responsibility for Control
Reasons for Control Evaluation
Phase 1ÑUnderstanding Controls
Phase 2ÑAssessing Control Risk
Phase 3ÑControl Testing
Auditor’s Responsibility to Report Internal Control Deficiencies and Fraud Risks
Application Case with Solution & Analysis: Information Systems and Controls in a Small Business
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
Appendix 9A: Internal Control Assessment Aids for Audit Planning
Appendix 9B: Understanding Information Systems and Technology for Riskand Control Assessment
CHAPTER 10: Audit Sampling
Learning Objectives
The Essentials of Audit Sampling
Introduction to Audit Sampling
Test of Controls for Assessing Control Risk
Sampling Steps for Tests of Control
Substantive Procedures for Auditing Account Balances
Sampling Steps for an Account Balance Audit
Application Case with Solution & Analysis: Auditors Accused of Not Doing Sufficient Testing
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
Critical Thinking
Appendix 10A: The Most Basic Statistical Sampling Tables
Appendix 10B: Statistical Sampling Concepts for Tests of Controls and Tests of Balances
Appendix 10C: R Value Table
PART 3: Performing the Audit
CHAPTER 11: The Revenues, Receivables, and Receipts Process and Cash Account Balance
Learning Objectives
Preview of Part 3: Linking Audit Planning to Performing an Independent Financial Statement Audit
The Essentials of Auditing a BusinessÕs Revenues, Receivables, and Receipts Process and Cash Accoun
Understanding the Revenues, Receivables, and Receipts Process
Control Risk Assessment
Example of Linking Risk Assessment to Substantive Audit Procedures for Audit of Cash Account Balance
Substantive Audit Programs for the Revenues, Receivables, and Receipts Process
Analysis of Financial Statement Relationships
Misstatement Analysis
Special Note: The Existence Assertion
Special Note: Using Confirmations
Special Note: Audit of Bank Reconciliations
Application Case with Solution & Analysis: Detecting Misstatements in the Revenues, Receivables, and
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
Appendix 11: Internal Control Questionnaires for the Revenues, Receivables, and Receipts Process
Appendix 11: System Documentation Examples for the Revenues, Receivables, and Receipts Process
CHAPTER 12: The Purchases, Payables, and Payments Process
Learning Objectives
The Essentials of Auditing a BusinessÕs Purchases, Payables, and Payments Process
Understanding the Purchases, Payables, and Payments Process
Control Risk Assessment
Substantive Audit Programs for the Purchases, Payables, and Payments Process
Special Note: Physical Inventory Observation and Audit of Inventory and Cost of Sales
Special Note: Audit of PPE and Intangible Assets
Special Note: The Completeness Assertion for Liabilities
Application Case with Solution & Analysis: Detecting Misstatements in the Purchases, Payables, and P
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
Appendix 12: Internal Control Questionnaires for the Purchases, Payables, and Payments Process
CHAPTER 13: Payroll and Production Processes
Learning Objectives
The Essentials of Auditing the Payroll Process and the Production Costing Process
Risk Assessment for the Payroll and Production Processes
Part I: Understanding the Payroll Process
Control Risk Assessment
Substantive Audit Program for Payroll
Part II: Understanding the Production Process
Control Risk Assessment
Substantive Audit Program for the Production Process
Application Case with Solution & Analysis: Detecting Misstatements in the Payroll and Production Pro
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
Appendix 13: Internal Control Questionnaires for the Payroll and Production Processes
CHAPTER 14: The Finance and Investment Process
Learning Objectives
The Essentials of Auditing the Finance and Investment Process
Understanding the Finance and Investment Process
Control Risk Assessment
Substantive Audit Programs for the Finance and Investment Process
Application Case with Solution & Analysis: Detecting Misstatements in the Finance and Investment Pro
Other Aspects of Clever Accounting and Fraud
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
Appendix 14A: Derivative Securities—An Example of Risks That Management and Auditors Face
Appendix 14B: GAAP for Private Enterprises
CHAPTER 15: Completing the Audit Work
Learning Objectives
The Essentials of Completing the Audit Work
The Completion Stage of the Audit
Completing the Audit of Revenues and Expenses
Overall Analytical Procedures
Procedures to Detect Contingencies and Claims
Events Subsequent to the Balance Sheet Date
Written Management Representations
Audit Documentation Working Paper Review
Application Case with Solution & Analysis: When in Doubt, Defer!
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
CHAPTER 16: Applying Professional Judgment to Form the Audit Opinion and Issue the Audit Report
Learning Objectives
The Essentials of Applying Professional Judgment to Form the Audit Opinion and Issue the Audit Repor
Applying Professional Judgment to Form the Audit Opinion
Overall Evaluation of Audit Evidence and Misstatements
Writing an Audit Opinion on the Financial Statements
Significant Matter Paragraphs: Additional Information in the Audit Report
Auditor Communications
Application Case with Solution & Analysis: Final Overall Analysis Uncovers Unusual Related-Party Tra
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
Appendix 16A: Audit Completion Checklist
Appendix 16B: The Impact of Subsequent Events on Audit Reports
PART 4: Other Topics in Professional Public Accounting Practice
CHAPTER 17: Other Public Accounting Services and ReportsÑReviews and Compilations
Learning Objectives
The Essentials of Other Engagements Involving Financial Statements
Unaudited Financial Statements
Other Review and Compilation Topics
Interim Financial Information
Public and Restricted Reports on Internal Control
Audit Reports on Internal Control
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
CHAPTER 18: Professional Rules of Conduct Details and Auditor Responsibilities
Learning Objectives
The Essentials of Some Detailed Rules of Professional Conduct
Why There Are Detailed Rules of Professional Conduct
Codes of Professional Ethics
Regulation and Quality Control
Consequences of Unethical/Illegal Acts
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
CHAPTER 19: PART I: The Audit of Accounting Estimates: Basic Material Relating to Accounting Estimat
Learning Objectives
The Essentials of Judgments for Accounting Estimates
Introduction
Going-Concern Assumption
Review of CAS 540
Discussion of CAS 540
CICA Audit Guideline 41
Principles-Based Reasoning with Accounting Estimates Using Risk-Based Reasoning
Application Case with Solution & Analysis: Illustration of Audit Risk and Accounting Risk Using Poin
Summary of Part I
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
CHAPTER 19: PART II: The Audit of Accounting Estimates: Advanced Issues in the Audit of Accounting E
Learning Objectives
A Quantitative Model for Information Risk
Modelling Accounting Risk with Reasonable Ranges
The Risk-Based Reasoning Matrix
Importance of Benchmarks (ÒRisk AdjustedÓÑReasonable Ranges) and Key Formulas in Their Derivation
Summary Comments on the Risk-Based Reasoning Principle for Accounting Estimates
Getting Your Ranges Calibrated
Application Case with Solution & Analysis: Data Analytics Case Study: Barrick Gold Corp. 2013
Summary of Part II
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Answers to Calibration Exercises
Appendix 19A: Detecting Fraudulent Reporting in Accounting Estimates Using the Quantitative Model fo
CHAPTER 20: Legal Liability Cases (online)
Learning Objectives
The Essentials of More-Advanced Issues in Legal Liability
Liability under Common Law Cases
AuditorÕs Liability under Statutory Law
Liability under SEC (Statutory) Law
Summary
Key Term
Multiple-Choice Questions for Practice and Review
Exercises and Problems
CHAPTER 21: Other Professional Accounting Services and Reports, Including Fraud Auditing (online)
Learning Objectives
The Essentials of Other Professional Accounting Services and Reports, Including Fraud Auditing
Part I: Assurance Engagements
Special Reports and Compliance Reporting
Forecasts and Projections
Financial Statements for Use in Other Countries
The Assurance Framework
Audits of Public Sector and Not-for-Profit Financial Statements
Economy, Efficiency, and Effectiveness Audits
Environmental Audits: Another Potential Type of Assurance Engagement
Application Case with Solution & Analysis: Suitable Criteria, GAAP, and Critical Thinking
Part II: Fraud Awareness Auditing: More on Auditor Fraud Responsibilities and How to Detect Fraud Co
Discussion of the Consequences and Significance of the Madoff Event
AuditorsÕ and InvestigatorsÕ Responsibilities
Fraud Prevention
Application Case with Solution & Analysis
Documents, Sources, and Extended Procedures
After Discovering a Fraud
Fraud Audits as Assurance Engagements: A Critical-Thinking Issue
Bribery and Corruption: A Global Social Concern
Summary
Key Terms
Multiple-Choice Questions for Practice and Review
Exercises and Problems
Discussion Cases
Appendix 21: Other Advanced Assurance Topics
Accounting Handbook Lists
Glossary
Index