Readings in Auditing Volume II is a new selection of contemporary readings in auditing that builds upon the first volume of this widely used collection. The second volume has a particular focus on audit independence and audit planning, fraud and corporate governance, earnings management and auditor's legal liability. The text also provides an integrated consideration of regulation and regulatory reform with regard to the new legally enforceable Australian auditing standards (ASA), introduced from 1 July 2006. The objective of this volume is to present both academics and students with a range of current audit issues that reflect professional practice and to contextualise various audit issues and their implications for students. The readings can be set as a companion resource to an audit and assurance textbook or as an independent resource. The volume is suitable to both undergraduate and postgraduate subjects on auditing & assurance services. FEATURES * The readings present a range of current, topical, professional topics.* Ideal for tutorial and workshop presentations.* Set of activities accompanies each reading.

Table of Contents

Chapter 1: Introduction Auditing and accounting crisis: Causes and reforms Chapter 2: An anatomy of an auditing and accounting crisis Chapter 3: Paying for performance: The problems of compensation incentives and impact on audit planning Chapter 4: Earnings management: Professional problem and failure Chapter 5: The great independence debate: Was it worth it? Chapter 6: Proportionate liability: A chance to add value to the audit function? Internationalisation Chapter 7: Corporate governance in developing countries: Accountability versus performance? Chapter 8: Corporate governance reforms in Sri Lanka and India: Part 1 Chapter 9: Corporate governance reforms in Sri Lanka and India: Part 2 Fraud prevention and detection Chapter 10: Australian Wheat Board Chapter 11: Audit planning for the detection of fraud Chapter 12: Fraud prevention and detection- further guidance Guidance for fulfilling responsibilities of audit committees Chapter 13: The responsibilities of audit committees Chapter 14: Audit committees: Effectiveness and diligence Chapter 15: Guidance for audit committee members - responsibilities for internal control Chapter 16: Further guidance for audit committees to fulfil their responsibilities: Override of controls and internal auditors