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Unformatted text preview: cedures and types of evidence available to the auditor in more detail. mes25435_ch01_001-032.indd mes25435_ch01_001-032.indd 18 26/05/11 9:24 PM Confirming Pages Chapter 1 FIGURE 1–4 An Introduction to Assurance and Financial Statement Auditing 19 Major Phases of an Audit Client acceptance/ continuance (Chapter 3) Preliminary engagement activities (Chapter 3) Plan the audit (Chapters 3, 4, and 5) Consider and audit internal control (Chapters 6 and 7) Audit business processes and related accounts (e.g., revenue generation) (Chapters 10–16) Complete the audit (Chapter 17) Evaluate results and issue audit report (Chapters 1 and 18) Major Phases of the Audit The audit process can be broken down into a number of audit phases (see Figure 1–4). While the figure suggests that these phases are sequential, they are actually quite iterative and interrelated in nature. Phases often include audit procedures designed for one purpose that provide evidence for other purposes, and sometimes audit procedures accomplish purposes in more than one phase. Figure 1–4 shows the specific chapters where each of these phases is discussed in detail. mes25435_ch01_001-032...
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This note was uploaded on 12/08/2012 for the course ACCT 564 at Washington University in St. Louis.

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