Connect instructor resources library offers:
∙ Solutions Manual, revised by William F. Messier, Jr., Steven M. Glover, and Douglas F. Prawitt ∙ Instructor’s Manual ∙ Test Bank with AACSB, AICPA, and Bloom’s Taxonomy tags ∙ Instructor PowerPoint Presentations ∙ EarthWear Mini-Case Solutions ∙ Solutions to IDEA Solutions
Addtional resources include: Links to Professional Resources, Sample Syllabi, Text Updates, and Digital Image Library
Connect student resources include: ∙ EarthWear Mini-Cases ∙ IDEA Assignments and Problems, by Messier, Glover, and Prawitt ∙ Student PowerPoint Presentations ∙ Relevant Accounting and Auditing Pronouncements by chapter ∙ Link to EarthWear Clothiers home page ∙ Link to Willis & Adams, CPAs home page
Assurance of Learning Ready Many educational institutions today are focused on the notion of assurance of learning, an important ele- ment of some accreditation standards. The Messier, Glover, and Prawitt Auditing and Assurance Services: A Systematic Approach book is designed specifically to support your assurance of learning initiatives with a simple, yet powerful, solution.
Each chapter in the book begins with a list of numbered learning objectives, which appear throughout the chapter as well as in the end-of-chapter assignments. Each test bank question for Auditing and Assurance Services: A Systematic Approach maps to a specific chapter learning outcome/objective listed in the text. Each test bank question also identifies topic area, level of difficulty, Bloom’s Taxonomy level, AACSB and AICPA skill areas. You can use Connect to easily query for learning outcomes/objectives that directly relate to the learning objectives for your course.
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The continuing rapid pace of change in auditing standards and practices, together with the recent crises in the financial markets, has had a significant effect on the auditing profession. In this ever-changing environment, it is crucial that stu- dents learn from the most up-to-date, student-friendly resources. As always, the author team of Auditing & Assurance Services: A Systematic Approach is dedicated to providing the most current professional content and real-world applica- tion, as well as helping students develop professional judgment and prepare for the CPA exam.
In their 10th edition, authors Messier, Glover, and Prawitt continue to reinforce the fundamental values central to their past nine editions:
Student Engagement. The authors believe students are best served by acquiring a strong understanding of the basic concepts that underlie the audit process and how to apply those concepts to various audit and assurance services. The primary purpose for an auditing text is not to serve as a reference manual but to facilitate student learning, and this text is written accordingly. The text is accessible to students through straightforward writing and the use of engaging, relevant real-world examples, illustrations, and analogies. The text explicitly encourages students to think through fundamental concepts and to avoid trying to learn auditing through rote memorization. Students are prompted by the text to “stop and think” at important points in the text, in order to help them apply the principles covered. Consistent with this aim, the text’s early chapters avoid immersing students in unnecessary detail such as the minutia relating to all the complexities of audit reporting, focusing instead on students’ intuition relating to the fundamental audit concepts of materiality, audit risk, and audit evidence relating to management assertions. The first chapter provides a high-level introduction to what an audit report looks like while avoiding immersion in unnecessary detail. It also lays out a clear explanation and illustration of the demand for assurance and provides an understandable overview of the auditing process from start to finish. A case involving EarthWear Clothiers, a mail-order retailer, is integrated throughout the book and additional student resources and includes free student access to several useful hands-on mini-cases, with full solutions available to the instructor. Finally, “practice insights” throughout the book engage students and help them see the application of concepts in a practical setting.
A Systematic Approach. The text continues to take a systematic approach to the audit process by first introducing the three underlying concepts: audit risk, materiality, and evidence. This is followed by a discussion of audit planning, the assessment of control risk, and a discussion of the nature, timing, and extent of evidence necessary to reach the appropriate level of detection risk. These concepts are then applied to each major business process and related account balances using a risk-based approach. The text has been revised to include the risk assessment process included in the standards adopted by the Auditing Standards Board and the International Auditing and Assurance Standards Board, as well as the PCAOB’s newly adopted Risk Assessment Standards.
Decision Making. In covering these important concepts and their applications, the book focuses on critical judg- ments and decision-making processes followed by auditors. Much of auditing practice involves the application of auditor judgment. If a student understands these basic concepts and how to apply them to an audit engagement, he or she will be more effective in today’s dynamic audit environment. Two of the authors of this textbook recently worked with KPMG to develop a monograph designed to accelerate the development of professional judgment in students. We are very excited to include in this edition a “professional judgment” module as part of the printed material in the text. This module is based on the KPMG Professional Judgment monograph, which was awarded the 2013 AAA Deloitte/Wildman award for the work published within the most recent five-year period that has had the most significant impact on the practice of professional accountancy. Access to additional directly related resources, including videos, mini-cases, and problems, are available on KPMG’s University Connection website for integration into the auditing course, as instructors see fit.