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, fear and loathing being high on the list. 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. Designed for quick reference, you will find sections and specific details fast. With a process that often happens annually it is nice to have this handy refresher regardless of your experience level.
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)