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The Audit Process provides an essential introduction to the principles and practices of auditing. This accessible textbook guides students through every step of the audit process and provides plenty of opportunities to practise what they are learning. Completely updated in line with the latest standards, regulatory processes and corporate governance, the seventh edition of this comprehensive text is ideally suited for auditing modules taught on undergraduate and postgraduate courses in accounting and finance.

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1. Why are auditors needed?
2. An overview of the postulates and concepts of auditing3. Auditor independence
4. Audit regulation
5. An introduction to corporate governance
6. Risk
7. Evidence
8. Systems work basic ideas 1
9. Systems work basic ideas 2
10. Testing and evaluation of systems
11. Substantive testing, CAAT and audit programmes
12. Sampling and materiality
13. Final work: general principles and analytical review of financial statements, and management assertions on financial statement heading
14. Final work: non-current assets, trade receivables and financial assets
15. Final work: specific problems relating to inventories, construction contracts, trade payables and financial liabilities
16. Final review: post balance sheet period, provisions, contingencies, letter of rep.
17. Assurance engagements and internal audit
18. The Audit Report, including reporting on Corporate Governance
19. Fraud and going concern
20. The audit expectations gap and audit quality
21. The auditor and liability under the law
22. Issues in auditing
23. Examination hints and final remarks

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Gray, Iain
Iain Gray acquired extensive practical auditing experience with PricewaterhouseCoopers in Germany and Italy. He was for many years Principal Lecturer and Head of Auditing at Sheffield Hallam University and is formerly Chair of the Auditing Special Interest Group of the British Accounting and Finance Association.

Manson, Stuart
Stuart Manson is a member of the Institute of Chartered Accountants of Scotland. He is presently a Professor of Accounting in Essex Business School at the University of Essex where he lectures on auditing and financial reporting. He has written a number of articles in academic journals and co-authored a number of research monographs in the areas of auditing and financial reporting.

Crawford, Louise
Professor of Accounting, Newcastle University Business School, Newcastle University

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