Name: Wiley CPAexcel Exam Review 2018 Study Guide By Wiley
SKU: 9781119480679
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Wiley CPAexcel Exam Review 2018 Study Guide Summary

Wiley CPAexcel Exam Review 2018 Study Guide: Auditing and Attestation by Wiley

The Wiley CPAexcel Study Guide: Auditing and Attestation provides detailed study text to help you identify, focus on, and master specific topic areas that are essential for passing the AUD section of the 2018 CPA Exam. Covers the complete AICPA content blueprint in Auditing and Attestation (AUD) Authored and compiled by the same leading university accounting professors who author the Wiley CPAexcel online course Explains every CPA Exam topic tested on the Auditing and Attestation (AUD) section of the CPA Exam (one volume) Organized in Bite-Sized Lessons so you can learn faster and remember more of what you learn Updated for 2018 so you have the most accurate, up-to-date content available for the Auditing and Attestation (AUD) section on this year's exam Maps perfectly to the Wiley CPAexcel Review Course; may be used to complement the online course or as a standalone study tool Study text only and does NOT include practice questions or practice exams. Use in conjunction with the Wiley CPAexcel Exam Review 2018 Test Bank: Auditing and Attestation, which includes interactive multiple-choice questions and task-based simulations.

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Wiley empowers learners, researchers, universities, and corporations to achieve their goals in an ever-changing world. For over 200 years, Wiley has been helping people and organizations develop the skills and knowledge they need to succeed. Wiley develops digital education, learning, assessment, and certification solutions to help universities, businesses, and individuals move between education and employment and achieve their ambitions. By partnering with learned societies, we support researchers to communicate discoveries that make a difference. Our online scientific, technical, medical, and scholarly journals, books, and other digital content build on a 200-year heritage of quality publishing.

About the Authors ix About the Auditing and Attestation Professors x Welcome to Auditing and Attestation xi Ethics, Professional Responsibilities, and General Principles 1 AICPA Code of Professional Conduct 2 Introduction and Preface 2 Members in Public Practice 5 MIPPs Introduction and Conceptual Framework 5 MIPPs Nonindependence Rules 7 Conflicts of Interest, Directorships, and Gifts 7 Reporting Income and Subordination of Judgment 9 Advocacy, Third-Party Service Providers (TSPs), General Standards, and Accounting Principles 10 Discreditable Acts 12 Fees 14 Advertising and Confidentiality 16 Form of Organization and Names 18 MIPPs Independence Rules 20 Introduction to MIPPs Independence Rules 20 Network Firms and Affiliates 22 Reissues, Engagement Letters, ADR, and Unpaid Fees 24 Financial Interests 25 Overview and Unsolicited Financial Interests 25 Mutual Funds and Retirement Plans 27 Partnerships, 529s, Trust and Estates, Employee Benefit Plans 29 Depository Accounts, Brokerage Accounts, and Insurance Policies 31 Loans, Leases, and Business Relationships 32 Family Relationships 34 Employment Relationships 36 Current Employment 36 Subsequent Employment 38 Other Associations and Relationships 40 Nonaudit Services 42 Code Provisions 42 Specific Services 45 Members in Business 51 Other Members 54 Requirements of SEC and PCAOB 55 Securities and Exchange Commission (SEC) 55 Public Company Accounting Oversight Board (PCAOB) 61 Requirements of GAO and DOL 64 Government Accountability Office (GAO) 64 Department of Labor (DOL) 72 Assessing Risk and Developing a Planned Response 75 Financial Statement Audits 76 Accounting vs. Auditing 76 GAAS and Principles 78 Professional Standards 80 Quality Control Standards (SQCS) 82 Overview of Audit Process 84 Overview of Auditor's Report 85 Different Types of Engagements 89 PCAOB Responsibilities 90 PCAOB on Engagement Quality Review 92 Planning Activities 94 Pre-Engagement Planning Issues 94 Planning and Supervision 99 Materiality 101 Audit Risk 103 Analytical Procedures 106 Detecting Fraud 108 Fraud: Evaluation and Communication 113 Detecting Illegal Acts 115 Using the Work of a Specialist 117 Required Communications with Those Charged with Governance 120 PCAOB on Communications with Audit Committees 123 Internal Control-Concepts and Standards 126 Obtaining an Understanding of Internal Control 126 Evaluating Internal Control 128 Assessing Control Risk Under AICPA Standards 131 Performing Procedures in Response to Assessed Risks 135 Required Communications 138 Using the Work of an Internal Audit Function 141 Performing Further Procedures and Obtaining Evidence 145 Internal Control: Transaction Cycles 146 Specific Transaction Cycles 146 Revenue/Receipts-Sales 148 Revenue/Receipts-Cash 150 Expenditures/Disbursements 152 Payroll Cycle 155 Miscellaneous Cycles 157 Audit Evidence: Concepts and Standards 159 Overview of Substantive Procedures 159 The Nature of Evidence 163 Assertions and Types of Audit Procedures 167 PCAOB Risk Assessment Audit Standards 170 Evaluation of Misstatements Identified During the Audit 174 Audit Documentation 176 PCAOB on Audit Documentation 180 Confirmation 182 Accounting Estimates 184 Fair Value Estimates 186 Lawyer's Letters 188 Management Representations Letters 191 Related-Party Issues 194 PCAOB on Related Parties 197 Subsequent Events and Related Issues 200 Going Concern Issues 203 Audit Evidence: Specific Audit Areas 207 Introduction to Auditing Individual Areas 207 Cash 209 Accounts Receivable 212 Inventory 214 Investments in Securities and Derivative Instruments 217 Fixed Assets 220 Current Liabilities 221 Long-Term Liabilities 223 Stockholders' Equity 224 Payroll 225 Audit Sampling 227 Introduction to Sampling 227 Attributes Sampling 229 Variables Sampling 231 Probability-Proportional-to-Size (PPS) Sampling 235 Example Problems 237 Difference Estimation Problem 237 Difference Estimation Solution 238 Ratio Estimation Problem 239 Ratio Estimation Solution 240 MPU Estimation Problem 241 MPU Estimation Solution 242 PPS Sampling Problem 243 PPS Sampling Solution 244 IT (Computer) Auditing 245 IT Controls-General Controls 245 IT Controls-Application Controls 247 IT Evidence-Gathering Procedures 249 Other IT Considerations 251 Forming Conclusions and Reporting 253 Audit Reports 254 Introduction to Audit Reports 254 PCAOB on Audit Reports 261 Audits of Group Financial Statements 263 Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs 267 Qualified for Scope Limitation 270 Qualified for Misstatement 273 Adverse Opinion 275 Disclaimer of Opinion 277 Consistency of Financial Statements 280 PCAOB on Evaluating Consistency of Financial Statements 282 Opening Balances-Initial Audits 284 Other Information Along with Financial Statements 288 Supplementary Information Related to Financial Statements 290 Required Supplementary Information 292 PCAOB on Auditing Supplemental Information 294 Alert to Restrict Report 297 Financial Statements Using Another Country's Framework 299 Reporting on Summary Financial Statements 301 Interim Financial Information 304 Sample Reports 309 Unmodified Opinion (Reference to Legal Requirements) 309 Unmodified Opinion (No Reference to Legal Requirements) 311 Unmodified Opinion (Sentence by Sentence) 313 Unmodified in Current Year, Balance Sheet in Prior Year 315 Unmodified in Prior Year, Qualified in Current Year 317 Qualified for Scope 319 Qualified for Material Misstatement 321 Qualified for Inadequate Disclosure 323 Adverse Opinion 324 Disclaimer of Opinion for Scope 326 Unmodified on B/S, Disclaimer on I/S and Cash Flows 327 Emphasis-of-Matter Paragraph 329 Other-Matter Paragraph 331 Reference to Component Auditor 333 Single Financial Statement 334 Specific Element (Special Purpose Framework) 335 Incomplete Presentation 336 Application of Accounting Principles (Second Opinion) 337 Report on Summary Financial Statements 338 Review Report on Interim Financial Statements 339 Other Reports 340 Reports on Application of Requirements of Framework 340 F/S with Special Purpose Frameworks 343 Audits of Single F/S and Specific Elements, Accounts, or Items 346 Reporting on Compliance with Requirements in an F/S Audit 349 Service Organizations-User Auditors 353 Service Organizations-Service Auditors 355 Comfort Letters 358 Government Auditing Standards 363 Compliance Audits 367 SSARSs-General Principles 370 SSARSs-Preparation of Financial Statements 373 SSARSs-Compilation Engagements 375 SSARSs-Review Engagements 379 SSARSs-Other Topics 383 Sample Reports 387 F/S Prepared on Cash Basis 387 F/S Prepared on Regulatory Basis (for General Use) 388 Profit Participation 390 Sample Review Report on Financial Statements 391 Sample Compilation Report on Financial Statements 392 Separate Report on Compliance (No Instances of Noncompliance) 393 Separate Report on Compliance (with Noncompliance Identified) 394 Combined Report on Audited Financial Statements and Compliance Issues 395 Other Professional Services 397 AICPA on Reporting on Internal Control in an Integrated Audit 397 PCAOB on Reporting on Internal Control in an Integrated Audit 407 PCAOB on Reporting Whether a Previously Reported Material Weakness Continues to Exist 413 Auditing Employee Benefit Plans 416 Introduction to Attestation Standards 421 Attestation Standards-Common Concepts 424 Examination Engagements 427 Examination Reports 431 Review Engagements 435 Review Reports 438 Agreed ]Upon Procedures Engagements 442 Prospective Financial Information 447 Pro Forma Financial Information 454 Compliance Attestation 459 Management's Discussion and Analysis (MD&A) 463 Assurance Services 467 Sample Reports 469 Examination of Forecast 469 AUP of Forecast 470 Compilation of Forecast 471 Examination of Pro Forma 472 Review of Pro Forma 473 Examination for Compliance 474 AUP for Compliance 475 Example Management Report (with No Material Weaknesses Reported) 476 Unmodified Opinions on Financial Statements and ICFR (Combined Report) 477 Unmodified Opinion on ICFR (Separate Report on ICFR) 479 Adverse Opinion on ICFR (Separate Report on ICFR) 481 Examination of MD&A 483 Review of MD&A 484 Index 485

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Sku

CIN1119480671G

ISBN 13

9781119480679

ISBN 10

1119480671

Title

Wiley CPAexcel Exam Review 2018 Study Guide: Auditing and Attestation by Wiley

Author

Wiley

Condition

Used - Good

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Paperback

Publisher

John Wiley & Sons Inc

Year published

20180302

Number of pages

528

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N/A

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This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in good condition, but if you are not entirely satisfied please get in touch with us

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Wiley CPAexcel Exam Review 2018 Study Guide Summary

Wiley CPAexcel Exam Review 2018 Study Guide: Auditing and Attestation by Wiley

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