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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
(Chapter 3) Preliminary
(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.