Unformatted text preview: ng practicing as an auditor,
running a small business, providing consulting services, and even making executive business decisions. An important implication is that learning this framework
makes the study of auditing valuable to future accountants and business decision
makers, whether or not they plan to become auditors.
While we are convinced the concepts and techniques covered in this book
will be useful to you regardless of your career path, our experience is that students frequently fall into the trap of deﬁning auditing in terms of memorized lists
of rules, tools, and techniques. The study of auditing and the related concepts
and techniques will make a lot more sense if you build up your intuition of why
audits are needed, what an auditor does, and why, and if you understand the necessary characteristics of audits and auditors.
Reliable information is important for managers, investors, creditors, and regulatory agencies to make informed decisions. Auditing helps ensure that information is reliable, credible, and relevant. You will ﬁnd that the concepts that
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