Core Auditing Standards for Practitioners: + website

Core Auditing Standards for Practitioners is a highly practical guide to the key ISAs that practitioners really need to understand in order to perform efficient and profitable audits, along with the recently revised ISAs that cause practitioners most concern. These ISAs are the ones that underpin audit methodologies and the ones that audit inspectors regularly pick auditors up on; this guide looks at what regulators around the world have to say about them.  Understanding the rationale for these ISAs, and how they fit together, are what practitioners need to do to make sure that their processes, procedures and documentation are as lean as they can be. This guide will enable practitioners to tailor methodologies confidently by removing redundancies and inefficiencies whilst maintaining full compliance with the standards.  Key features include:  Notes on observations on compliance with the relevant ISAs by several different regulators; Numerous down–to–earth illustrations of the application of the more complex ISA requirements; Practical guidance on what standards say, and the issues practitioners experience in applying them, to enable practitioners to form high–quality, robust and independent judgements with a thorough grounding in the ISAs to serve in discussions with file reviewers and audit inspectors. The many practical examples will appeal to auditors with technical responsibilities within smaller and medium–sized firms – particularly those who have responsibility for audit methodologies – as well as to practitioners with overall responsibility for the conduct of audits.  Additional coverage is given to topics including smaller audits, the effect of dominant owner–managers and management override of controls, documenting audit judgements, and dealing with accounting estimates and written representations.