Modern Auditing & Assurance Services, 5th Edition

ISBN: 9780730309086

Modern Auditing & Assurance Services, 5th Edition provides an up-to-date and thorough explanation of auditing and assurance services. By focusing on auditing theory, concepts and current practice, this text provides you with the necessary knowledge and skills required to excel in your course.


  • Professional Environment vignettes apply audit events and processes to real business experiences – ideal for developing an appreciation of the professional environment both locally and globally.
  • Learning Checks, positioned at the end of major sections in the chapter, provide a succinct listing of the key audit issues and processes that you must know before proceeding further.
  • Many Review Questions and Professional Application Questions are drawn from Australian and international professional bodies.
Philomena Leung is Professor and Head of the Department of Accounting and Corporate Governance at Macquarie University, Sydney. She has had extensive teaching experience at tertiary and postgraduate levels for over 30 years, specialising in auditing, ethics and corporate governance. Prior to undertaking the role at Macquarie University, Philomena held senior academic positions at Hong Kong Polytechnic University at in Australia at Victoria University, RMIT University and Deakin University.

Paul Coram is an Associate Professor in Accounting at the University of Melbourne. Paul has a Masters in Accounting from the University of Western Australia and a PhD from the Australian National University. He worked as an auditor and became a chartered accountant with one of the Big Four firms in Australia, also gaining work experience as an auditor in London.

Barry J Cooper is Professor of Accounting and Interim Head of the School of Accounting, Economics and Finance at Deakin University, Melbourne. He has a Bachelor of Commerce and a Master of Education from Melbourne University, a PhD from RMIT University and is a Fellow of CPA Australia and the Association of Chartered Certified Accountants (ACCA). During his academic career, Barry has undertaken a number of research projects in the area of auditing, ethics and accounting education.

Peter D Richardson is the finance manager for a public-sector organisation as well as a teacher of financial reporting and auditing to students preparing for the exams of the ICAA and CPA Australia. He has a Bachelor of Commerce (Hons) and is a member of the Institute of Charter Accountants in England and Wales. In 2006 he moved to Australia and joined Deakin University as a lecturer in accounting and auditing.

1. An overview of auditing, assurance and the public accounting profession.
2. Governance and the auditor.
3. Professional ethics, independence and audit quality.
4. Assurance engagements.
5. The auditor’s legal liability.

6. Overview of the audit of financial statements.
7. The Auditor’s Report.
8. Client evaluation and planning the audit.
9. Business and audit risk assessment.
10. Materiality and audit evidence.

11. Test of controls.
12. Designing substantive procedures.
13. Audit sampling.

14. Auditing sales and receivables.
15. Auditing purchases, payables and payroll.
16. Auditing inventories and property, plant and equipment.
17. Auditing cash and investments.

18. Completing the audit

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