Thus we start by helping you understand in general

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Unformatted text preview: auditing text initially have little understanding of what auditing and assurance services entail. Thus, we start by helping you understand in general terms why there is a demand for auditing and assurance services. We then compare auditing to other well-known forms of assurance to provide an intuitive understanding of the economic role auditing plays. Finally, we de ne auditing, attestation, and assurance services, and give you an overview of the nancial statement auditing process. The Study of Auditing LO 1 mes25435_ch01_001-032.indd 4 You will find that the study of auditing is different from any of the other accounting courses you have taken in college, and for good reason. Most accounting courses focus on learning the rules, techniques, and computations required to prepare and analyze financial information. Auditing focuses on learning the analytical and logical skills necessary to evaluate the relevance and reliability of the information as well as of the systems and processes responsible for recording and summarizing that information. As such, you w...
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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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