Project Description
Audit and Assurance, 2nd Edition
Leung, Coram, Cooper, Redgen, Canestrari-Soh
Interactive E-Text: 9781394173457, Print & Interactive E-Text Code: 9781394173440
Written for the local ANZ market, Leung Audit and Assurance 2nd Edition sets a new standard for resources on financial report auditing. Designed for both students and professionals, it seamlessly integrates foundational theory with practical insights, offering a clear understanding of the audit process while fostering adaptability and real-world readiness.
Available on our affordable subscription platform, Wiley Business Now, it also includes an Instructor Resource Toolkit and is supported by our local Wiley team.
Table of Contents
1.1 Auditing fundamentals
1.2 What is assurance?
1.3 What is governance?
1.4 The auditor and governance
1.5 Issues in governance
1.6 Enhancing accountability through the audit committee
1.7 The auditing environment
1.8 Auditing standards
Concept check
Summary
Key terms
Multiple-choice questions
Review questions
Professional application questions
Case study
Research question
Endnotes
Acknowledgements
Appendix 1A:Excel primer
2.1 Categories of assurance and assurance-related engagements
2.2 Assurance engagements involving historical financial information
2.3 Assurance engagements other than audits or reviews of historical financial information
2.4 Examples of assurance engagements other than those relating to historical financial information
2.5 Suitability reporting and assurance
2.6 Related servcies
2.7 Internal and operating auditing
2.8 Governance in the public sector
Concept check
Summary
Key terms
Multiple-choice questions
Review questions
Professional application questions
Case study
Research question
Endnotes
Acknowledgements
3.1 An overview of the audit process
3.2 Benefits and limitations of an audit assertions
3.4 Materiality
3.5 Audit evidence
3.6 Auditing procedures
3.7 Audit documentation
Concept check
Summary
Key terms
Multiple-choice questions
Review questions
Professional application questions
Case study
Research question
Endnotes
Acknowledgements
4.1 Independent auditor relationships
4.2 The appointment of an independent auditor
4.3 The auditor as a professional
4.4 Professional ethics- issues and competence
4.5 The code of ethics
4.6 Professional independence
4.7 Audit quality
4.8 Acceptance and continuance of client relationships
4.9 Audit engagement letters
Concept check
Summary
Key terms
Multiple-choice questions
Review questions
Professional application questions
Case study
Research question
Endnotes
Acknowledgements
5.1 Steps in planning an audit
5.2 Audit risk
5.3 Understanding the entity and its environment
5.4 Risk assessment procedures
5.5 Consideration of fraud risk in planning
5.6 Understanding internal control
Understanding
Concept check
Summary
Key terms
Multiple-choice questions
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Professional application questions
Case study
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Endnotes
Acknowledgements
Appendix 5A:Key financial ratios used in analytical procedures
6.1 Preliminary assessment of control risk
6.2 Audit strategies
6.3 Determining detection risk
6.4 Assessing the risk of material misstatements
Concept check
Summary
Key terms
Multiple-choice questions
Review questions
Professional application questions
Case study
Research question
Endnotes
Acknowledgements
7.1 Test of controls
7.2 Using internal auditors
7.3 Final assessment of control risk
7.4 Communication of internal control matters
7.5 Types of controls in an information technology environment
7.6 Testing information technology controls
7.7 Sampling for tests of controls
Concept check
Summary
Key terms
Multiple-choice questions
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Professional application questions
Case study
Research question
Endnotes
Acknowledgements
Appendix 7A:Credit sales cycle
Appendix 7B:Control risk assessment procedures- credit sales transactions
Appendix 7C: Purchase cycle
Appendix 7D: Control risk assessment procedures- purchase transactions
Appendix 7E: Test of controls using attribute sampling
8.1 Designing substantive procedures
8.2 Test of details
8.3 Framework for developing audit programs
8.4 Special considerations
8.5 Selecting items for substantive tests of details
8.6 Sampling for substantive
Concept check
Summary
Key terms
Multiple-choice questions
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Professional application questions
Case study
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Endnotes
Acknowledgements
Appendix 8A:Test of details using sampling
Appendix 8B: Using probability proportional to size (PPS) for sample selection
9.1 Using an analytical approach
9.2 Substantive analytical procedures
9.3 The impact of analytics on substantive sampling
9.4 The five-step process associated with planning and performing audit data analytics
9.5 audit documentation when using analytics
Concept check
Summary
Key terms
Multiple-choice questions
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Professional application questions
Case study
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Endnotes
Acknowledgements
Appendix 9A:Regression analysis
Appendix 9B: Data matching
10.1 Completing audit fieldwork
10.2 Undertaking a review of subsequent events
10.3 Events after the end of the reporting period
10.4 Considering the appropriateness of the going concern assumption
10.5 Reviewing for contingent liabilities
10.6 Written representations
10.7 Performing analytical procedures
10.8 Evaluating the findings
10.9 Communicating with the entity
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Summary
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Case study
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Endnotes
Acknowledgements
11.1 Standards of reporting
11.2 The auditor’s report
11.3 The communicative value of the audit report
11.4 Unmodified auditor’s report
11.5 Key audit matters
11.6 Modified auditor’s report
111.7 Emphasis of matter and other matter paragraphs in the independent auditor’s report
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Summary
Key terms
Multiple-choice questions
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Endnotes
Acknowledgements
12.1 The legal environment for auditors
12.2 Auditor liability
12.3 Examining negligence
12.4 Avoidance of litigation
12.5 Competition and consumer legislation
12.6 Quality management
Concept check
Summary
Key terms
Multiple-choice questions
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Research question
Endnotes
Acknowledgements
Authors
Philomena Leung (Institute of Public Accountants)
Paul Coram (University of Adelaide)
Barry J. Cooper (Deakin University)
Dominic Canestrari-Soh (Ernst and Young)
Kirsty Redgen (University of the Sunshine Coast)
Explore our content
Audit and Assurance offers a comprehensive guide to the development and practice of financial report auditing, providing authoritative insights into the role of auditors and the contemporary factors shaping audit practices.
This step-by-step guide for aspiring auditors organises foundational topics into clear, accessible chapters, helping students build confidence as they progress. It delivers a thorough overview of the audit process, combining real-world examples with essential theory to illuminate both the “how” and “why” behind each step.
With a strong emphasis on technology, data analytics, and contemporary assurance challenges, the text prepares students to tackle the complexities of modern auditing. Practitioner interviews and extensive Excel resources—including a primer, practical exercises, and screencast tutorials—equip students with the skills needed for success in today’s auditing environment.
What are the Key Features of Leung Audit and Assurance 2nd Edition?
- Comprehensive Coverage and Expertise: Covers core topics for a typical auditing unit. Co-authors Kirsty Redgen and Dominic Canestrari-Soh bring extensive industry experience to the text.
- Data Analytics and Technology Integration: Data analytics and technology content are embedded throughout. Technology Insight feature boxes explore how contemporary technology impacts auditing practices.
- Sustainability and Assurance Engagements: An enhanced chapter, Sustainability and Contemporary Assurance Engagements (Chapter 2), examines assurance-related engagements, including sustainability-related information.
- Analytics in Substantive Procedures: Chapter 9, Analytics in Substantive Procedures, focuses on applying audit data analytics in substantive analytical procedures.
- Updated Standards and Professional Context: Standards and regulatory content have been thoroughly enhanced. Professional statements at the start of each chapter highlight the Australian and international regulatory context and issues relevant to the chapter content.
- Excel Integration: Includes an Excel primer in Chapter 1 introducing basic skills and functions for accounting. Excel Applications boxes in every chapter, supported by screencast videos (eText), provide step-by-step guidance, while Excel-based exercises allow students to practice and master skills.
- Interactive Learning & Skill-Building: eText features concept check questions, multiple-choice exercises, and end-of-chapter questions to test understanding and build skills, with professional application and case study questions fostering real-world auditing knowledge and group discussion.
- Practitioner Insights: Practitioner videos offer valuable perspectives from leading auditing professionals, enhancing learning with real-world expertise.
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Available as a interactive e-text or printed textbook, with both subscription or buy-to-own access models. This title empowers students to master concepts and excel in assessments. Lecturers are supported with an extensive, easy-to-use teaching and learning package.
Our digital eText includes interactive step-by-step explanations of Excel functions and applications, building on the skills covered in the primer.
Excel primer
Our digital eText includes interactive step-by-step screencast video which provide explanations of Excel functions and applications, building on the skills covered in the primer.
Excel screencast videos (eText)
Our digital eText features interactive activities that let you match, categorise, or sequence concepts by moving elements on-screen, actively reinforcing learning with immediate feedback.
Interactivities (eText)
Technology Insight boxes focus on how technology is applied in practice. Some of these boxes feature interviews with leading auditing practitioners.
Data analytics and technology
Each chapter concludes with an integrated study guide. Designed for self-study, it includes new end-of-chapter questions and exercises designed to target specific skills.
Study guide
Our digital eText features end-of-chapter multiple-choice quizzes that provide instant feedback, helping to reinforce understanding and support learning.
Concept check questions (eText)
Students can personalise their eText by highlighting and taking notes, as well as other useful features including read aloud.
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