Audit

"Audit: Workbook" is a detailed guidebook that can help you understand the world of auditing in a clear, simple way. The book takes you step by step through 65 major concepts involved in auditing, answering any important questions you have and even showing you real examples of how everything works in practice. It starts with the basics, like what an audit is and why it's done, before teaching more complex material like the role of the audit committee, establishing auditor independence, defining audit thresholds, and focusing on the relationship between auditors and clients. As the book progresses, it introduces readers to global auditing rules like GAAS and ISA. It explains complicated ideas such as audit scope, control processes, control tests, material level, and different kinds of risks in an easy-to-understand fashion. Kinds of audits like the Sarbanes-Oxley Act, risk-based audits, compliance checks, forensic audits, and financial audits are all extensively covered by the book. The book then dissects tougher topics such as audit sampling, balance sheet audits, income statement audits, in order to make readers understand them clearly. The workbook also discusses the internal control system, due diligence, methods to collect evidence, and compliance testing. Plus it speaks to issues of restriction of scope, employing substantial procedures, and varies other related topics. It illuminates on the auditing software and claims, plus key components of working in an audit, peer review, finding in an audit, management letters, views recorded after auditing, and the final audit report.