Tolley's Audit Manual [köitmata]

Introduction: introduction and outline to our approach; regulation of
auditors; auditing practices board; confidentiality; professional ethics;
independence; consultation; adding value. Duties and responsibilities of the
auditor: audit team; liaison with other departments; auditors' rights;
auditors' duties; appointment of auditors; retirement of auditors; engagement
letters; ownership and lien; auditors' liabilities. Quality control:
introduction; firm's practice. Audit reporting: introduction; form and
content of audit reports; unqualified opinion; qualified and non-standard
opinions; firm's policy on qualified and non-standard opinions; dating and
signing of reports; qualified audit reports and dividends; reporting on
abbreviated accounts; going concern considerations; accountants' reports -
sole traders, partnerships and small companies; professional guidance. Audit
working papers: general; recording of work; standard documentation; time
summaries; permanent audit file. Audit review: introduction; supervision;
review of working papers; senior review; audit manager review; partner
review; signing partner review; hot reviews; cold reviews: Audit completion:
introduction; matters for the attention of partner (MAP); review of financial
statements; disclosure checklist; subsequent events review; going concern
review; representation letter; points forward checklist; management letter.
Audit planning: introduction; initial review; engagement objectives; planning
meeting; audit planning memorandum. Materiality: introduction; general
definition; setting a materiality level; materiality by amount;
considerations in determining materiality; potential audit adjustments;
adjustments which do not affect income; materiality by nature; planning
materiality; materiality decision. Risk assessment: audit risk; risk model;
inherent risk assessment; control risk; detection risk. Analytical
procedures: introduction; effective analytical review; using predictive
techniques; extensive analytical review; adding value. Documentation and
assessment of accounting systems: introduction; recording the system;
assessing the adequacy of the system; proper accounting records; contents,
form and organisation of accounting records. Audit evidence: introduction;
sufficient and appropriate audit evidence; substantive procedures; tests of
control; procedures for obtaining audit evidence. Substantive testing:
introduction; financial statements assertions; level of substantive testing;
audit objectives; audit programmes; directional testing; audit sampling;
sample selection; substantive errors; dealing with errors. Tests of control:
introduction; internal control system; identification of key controls; tests
of control; sample sizes; changes in the system; continuing engagements.
Audit of individual account area: intangible fixed assets; tangible fixed
assets; investments; stocks; debtors; bank & cash; creditors; cut-off; sales;
purchases; salaries and wages. (Part contents).