Auditing, Assurance Services and Ethics in Australia, 11th edition

An integrated, up-to-date approach to auditing and assurance services.

Auditing, Assurance Services and Ethics in Australia is the fully localised edition of Arens' definitive introductory text on auditing, specifically targeted at students who may need to understand in detail the auditor's legal, professional, and ethical responsibilities, how to conduct an audit from start to finish, the auditor's decision-making process, and statutory requirements for audit reports in their future roles as qualified accounting professionals in Australia or New Zealand.

This core text is intended for either a full-year or one-semester course at the undergraduate or graduate level. It is also appropriate for introductory professional development courses for public accounting firms, internal auditors and government auditors.

Auditing, Assurance Services and Ethics in Australia is a confidence-building way of learning the roles and legal responsibilities of a professional auditor. Readers will learn the theory and concepts of auditing and how to use the theoretical framework to solve practical audit problems in the real world.

The 11th Australian edition continues its focus on the Australian auditing environment in terms of the current practices and standards issued by the Auditing and Assurance Standards Board (AUASB).

Key features

• Core concepts and examples covering financial instruments, SOC reports, preparation services, and auditor judgement emphasise current auditing practices and issues.
• An international focus teaches students about auditing standards around the world.
• A summary to date at the beginning of chapters helps students understand the links between each individual concept.
• Concept Checks in every chapter highlight short-answer questions to help students recap content covered within different sections.
• An annual report and other financial statements for Rouge Clothing Company illustrate chapter concepts.
• A Pinnacle Manufacturing integrated case gives students a better understanding of how the different parts of an audit form the auditing process.
• Online Issues internet-based cases in each chapter require students to research relevant auditing issues online.

New to this edition

• Incorporates the latest iterations of local auditing regulations including auditing standards (ASAs, ASREs and ASAEs), Accounting Professional and Ethical Statements (APEs), the Framework for Assurance Engagements, the Explanatory Guide to AUASB Standards Applicable to Review Engagements, and guidance statements (AGs and GSs).
• Up-to-date referencing of relevant legislation including the Corporations Act 2001 and common law.
• Expanded fraud coverage throughout the text and especially in Chapter 9: Fraud auditing. This chapter has been updated including the results from the Fraud, Bribery and Corruption Survey 2022, commissioned by the ACCC.
• Increased emphasis on audit quality in the context of the role of auditing in corporate governance. Major changes in the relevant regulation, including the changes to the Corporations Act 2001, are integrated into relevant chapters.
• More case study problem questions at the end of each chapter allow students to measure their understanding of the theoretical concepts in a practical environment.
• Auditing and assurance implications of carbon trading in Chapter 19 have been revised for the Australian developments pertaining to carbon emissions reporting and assurance requirements.