ACCA Audit and Assurance - Azhar Ul Haque Sario - Bog

"ACCA Audit and Assurance: 2024 to 2025" is an essential guide for professionals and students delving into the world of audit and assurance, tailored to align with ACCA's standards and practices. This comprehensive book, spanning over six detailed sections, serves as a cornerstone for understanding the intricate dynamics of auditing, offering a blend of theory and practical insights.
At its core, the book begins by unraveling the fundamentals of audit and assurance in Section A. It provides a thorough overview of the audit process, its necessity in the business world, and dives into the specifics of external audits. Corporate governance and professional ethics, pivotal in today's corporate environment, are explored in-depth, alongside the ACCA's Code of Ethics and Conduct, laying the foundation for ethical and responsible auditing practices.
Section B shifts focus to the planning and risk assessment phase of audit engagements. It illustrates the process of obtaining, accepting, and continuing audit engagements, highlighting the objective and general principles guiding these processes. Critical aspects such as assessing audit risks, understanding the entity, and its operational environment are discussed. This section also sensitizes the reader to the nuances of fraud, laws, regulations, and the meticulous nature of audit planning and documentation.
The exploration of internal control systems forms the crux of Section C. This section discusses the systems of internal control, their evaluation by auditors, and the various tests of controls. It also delves into the differences between external and internal audits, discussing the scope of internal audit functions and the concept of outsourcing in the context of audit assignments.
Section D is dedicated to the vital concept of audit evidence. It covers the relationship between assertions and audit evidence, the procedures for audit evidence collection, and the implementation of audit sampling and other testing methods. It includes a detailed examination of the audit of specific items like receivables, inventory, and tangible assets, emphasizing the role of automated tools and techniques in modern auditing.
The book then progresses to Section E, focusing on review and reporting. This includes an examination of subsequent events, the assessment of an entity's going concern assumption, and the importance of written representations. It concludes with insights into the final stages of the audit process, including audit finalization, final review, and the preparation of the Independent Auditor's Report.
Finally, Section F emphasizes the importance of employability and technology skills in the field of auditing. This forward-looking section prepares readers for the evolving landscape of audit and assurance, highlighting the significance of staying abreast with technological advancements and developing relevant professional skills.
"ACCA Audit and Assurance: 2024 to 2025" is an indispensable resource, offering a panoramic view of the audit profession. It's written in simple, accessible language, making complex concepts understandable to a wide range of readers. Whether you're an aspiring auditor, a practicing professional, or a student in the field, this book is a valuable asset, providing clarity and depth on every aspect of audit and assurance as per ACCA's standards.