How to Avoid Audit Failure

Author: Lin Bingcang
Publisher:
Publish Date: 2003-04-01
Features: This book is highly practical and can serve as a reference tool for practicing accountants and general auditors, as well as supplementary teaching materials or reference books for students in accounting departments and graduate schools. The main content of the book includes audit risk, Why Audits Fail – Part One, Why Audits Fail – Part Two, Errors and Fraud, Management Fraud, Considerations of Fraud When Auditing Financial Statements, Auditors' Professional Judgment, Good Professional Judgment as an Important Asset for Auditors, Client Continuity, Revenue Recognition, Observation of Inventory Counts, Post-Closing Events, Number Games, Materiality Principle, Loyalty to Clients?, Case Studies on Misstated Financial Statements, and Guidelines for Assessing the Risk of Financial Statement Misstatement.
The book begins by exploring the structure of audit risk, examines why audits fail, and then references data from advanced countries to list the considerations auditors have when auditing financial statements and how to detect misstated financial statements. For practicality, the book specially collects and introduces some famous fraud cases, reviewing audit deficiencies to serve as self-examination for auditors. The book is highly practical and can serve as a reference tool for practicing accountants and general auditors, as well as supplementary teaching materials or reference books for students in accounting departments and graduate schools.