Auditing and Assurance Services, Update, 14th edition

  • Alvin A Arens
  • Randal J Elder
  • Mark Beasley


For the core auditing course for accounting majors.  An integrated and current approach to auditing.

UPDATE: In December, the ASB released redrafted Statements on Auditing Standards Nos 122-125, largely completing the Clarity project.  The author team of AUDITING AND ASSURANCE SERVICES: AN INTEGRATED APPROACH has always been fully committed to ensuring that our book provides up-to-date coverage of major developments affecting the auditing profession.  They have therefore prepared updated versions of the two 14th edition chapters that are most directly affected: Chapter 2, The CPA Profession, and Chapter 3, Audit Reports.


For more information on how you can preview the updated chapters, as well as incorporate the material into your current text, please contact your local sales representative.

Auditing and Assurance Services: An Integrated Approach presents an integrated concepts approach that shows students the auditing process from start to finish. This text prepares students for real-world audit decision making by using illustrative examples of key audit decisions, with an emphasis on audit planning, risk assessment processes and collecting and evaluating evidence in response to risks. 
The fourteenth edition includes coverage of PCAOB Auditing Standards up through AS 15 (the PCAOB’s Risk Assessment Standards) , new standards related to auditor responsibilities related to supplementary information included in financial statements (SAS Nos. 119 and 120), and the most up-to-date content in the dynamic auditing environment.

Provide students with exposure to the software: ACL Incorporation and Homework Problems. CPA firms are using audit software to perform audit testing and to test for fraud at an increasing rate. The authors have included selected problems using ACL Software in several chapters in the text. These problems are related to the topic of the chapter so that students can see how audit software is used to perform specific types of audit tests of files relevant to that transaction cycle. Additional guidance for students on the use of ACL is also provided.

NEW! Keep it current: This edition has been thoroughly updated to reflect the latest information in auditing. Highlights include:    

  • Coverage of PCAOB Auditing Standard No. 5An Audit of Internal Control Over Financial Reporting That is Integrated with an Audit of Financial Statements.
  • New standards related to communications to those charged with governance (SAS Nos. 114 and 115).
  • Since the adoption of the Sarbanes-Oxley Act, Arens has committed to continually providing students with only the most up-to-date content in the dynamic auditing environment.
Offer integrated coverage of Sarbanes Oxley and Section 404. The requirements of the Sarbanes Oxley Act, including Section 404 and PCAOB Auditing Standard 2, are integrated throughout the text. The authors provide extensive coverage of internal controls to provide students with the understanding of controls necessary to perform an integrated audit of financial statements and audit of internal control required by Section 404, as well as meet the requirements of the Risk Assessment Standards.

Highlight international issues. Consistent with the convergence toward international accounting and auditing standards, this edition contains integrated coverage of developments related to international auditing standards and emphasizes issues affecting audits of multi-national entities.


Appeal to the visual learnersIncreased use of bullets and numbering, and larger font size make this text easier to read and helps students focus on and retain key concepts.
Promote active research: Internet-based case homework assignments.
 All chapters include internet-based case/homework assignments that have students use the Internet to research relevant real world auditing issues.
Emphasize fraud and current auditing issues
: Mid-chapter vignettes. Many of the vignettes in this text involve international examples, and continue to emphasize fraud and current auditing issues.   

Table of contents

Part 1: The Auditing Profession

Chapter 1: The Deman for Audit and other Assurance Services

Chapter 2: The CPA Profession

Chapter 3: Audit Reports

Chapter 4: Professional Ethics

Chapter 5: Legal Liability


Part 2: The Audit Process

Chapter 6: Audit Responsibilities and Objectives

Chapter 7: Audit Evidence

Chapter 8: Audit Planning and Analytical Procedures

Chapter 9: Materiality and Risk

Chapter 10: Section 404 Audits of Internal Control and Control Risk

Chapter 11: Fraud Auditing

Chapter 12: The Impact of Information Technology on the Audit Process

Chapter 13: Overall Audit Plan and Audit Program


Part 3: Application of the Audit Process to the Sales and Collection Cycle

Chapter 14: Audit of the Sales and Collection Cycle: Tests of Controls and Substantive

                      Tests of Transactions

Chapter 15: Audit Sampling for Tests of Controls and Substantive Test of Transactions

Chapter 16: Completing the Tests in the Sales and Collection Cycle: Accounts


Chapter 17: Audit Sampling for Tests of Details of Balances


Part 4: Application of the Audit Process to Other Cycles

Chapter 18: Audit of the Acquisition and Payment Cycle: Test of Controls and

                      Substantive Tests of Transactions, and Accounts Payable

Chapter 19: Completing the Tests in the Acquisition and Payment Cycle: Verification of

                      Selected Accounts

Chapter 20: Audit of the Payroll and Personnel Cycle

Chapter 21: Audit of the Inventory and Warehousing cycle

Chapter 22: Audit of the Capital Acquisition and Repayment Cycle

Chapter 23: Audit of Cash Balances


Part 5: Completing the Audit

Chapter 24: Completing the Audit

Chapter 25: Other Assurance Services

Chapter 26: Internal and Governmental Financial Auditing and Operational Auditing

Published by Pearson Learning Solutions (July 7th 2012) - Copyright © 2012