Table of Contents

The auditing environment: Introduction to the origins and history of auditing; nature and objectives of assurance engagements; regulation and professional responsibilities of the registered auditor. The auditing profession and the auditor: The audit process, approach, quality control and fraud considerations in an audit of historical financial information; audit planning; audit evidence - fundamental concepts; audit evidence - audit sampling and other means of testing; audit documentation and working paper files. Audit testing methodology: Understanding the entity and its environment and assessing the risks of material misstatement; internal control; understanding internal control; part b: control evaluation and tests of controls; detection risk and the design of substantive tests. Audit of classes of transactions and balances: Auditing revenue transactions and balances; auditing expenditure transactions and balances; auditing production/inventory transactions and balances; auditing human resources, payroll transactions and balances; auditing investing and financing, transactions and balances; auditing investment and cash transactions and balances. Completing the audit, reporting and other assurance services: Audit completion and the auditor's report on annual financial statements; other engagements and reporting issues; audit of group financial statements; corporate governance.

About the Author

G. Puttick is the head of the department of accounting at the University of Cape Town, where he has taught auditing for more than 30 years. He has served as a member of the Auditing Standards Committee of the South African Institute of Chartered Accountants (SAICA) and as an executive committee member of the South African Accounting Academics Association. S.D. van Esch has served as a member of the Auditing Standards Committee of SAICA since 1994, and the Audit and Assurance Standards Board of the Public Accountants' and Auditors' Board (PAAB) since its inception. S.P. Kana is joint deputy CEO and head of Africa Audit and Assurance of PricewaterhouseCoopers Inc. He has served as Chairperson of the Auditing Standards Committee of SAICA and the Audit and Assurance Standards Board of the PAAB since its inception. He has also served for several years as the South African Representative to the International Auditing Practices Committee and its successor, the International Audit and Assurance Board.