Auditing Fundamentals in a South African Context

Auditing Fundamentals in a South African Context 2e is a practical, applied and engaging introductory textbook that supports students throughout the undergraduate level of the Auditing curriculum. The text is designed to enhance learning by supporting holistic understanding: theory is presented within the framework of the real-world business environment, assisting students to apply principles and standards with an understanding of their context.

The text offers a clear pedagogical framework, which supports applied learning and develops independent, critical and reflective engagement with the subject matter. A continuing case study, which follows each stage of the audit of a South African company, demonstrates the practical application of learned principles and the integration of the auditing process with a typical audit client's business.

The second edition is comprehensively revised to reflect all relevant, recent changes in the requirements of legislation, financial reporting and auditing pronouncements and codes, and addresses the new Code of Professional Conduct which was issued by the SA Institute of Chartered Accountants in the final quarter of 2018.

Additional educational resources support teaching and learning, assisting students to develop the academic skills required to master their studies.

Part A: The context within which the external auditor operates
Chapter 1: Introduction
Chapter 2: Ethics
Chapter 3: Legal responsibilities of the auditor
Part B: The auditee's responsibility for financial information
Chapter 4: Basic concepts of governance and internal control
Chapter 5: Introduction to risks and internal controls in a computerized environment
Chapter 6: Revenue and receipts cycle
Chapter 7: Purchases and payments cycle
Chapter 8: Inventory and production cycle
Chapter 9: Human resources cycle
Chapter 10: Investment and financing cycle
Part C: The external audit process
Chapter 11: Overview of the audit process
Chapter 12: Pre-engagement and planning activities
Chapter 13: Audit procedures: essential concepts
Chapter 14: Audit procedures: specific considerations
Chapter 15: Completion of the audit
Chapter 16: The independent review
Appendix: examples of cycle documentation related to the business cycles