Australian Audit Manual and Toolkit 2012

 The Australian Audit Manual and Toolkit 2012, authored by the Institute of Chartered Accountants Australia is now in its third edition. 

Small to medium size entities (SMEs) account for the majority of business audits undertaken in Australia each year. The Institute recognises the need for these audit practitioners to have access to reference materials that encapsulate all the requirements of the Australian Audit Standards (ASAs). Building on the 2010 edition, this manual and toolkit provides an up-to-date guide to assist practitioners, academics and students.

The 2012 edition includes new content from the International Federation of Accountants (IFAC) and incorporates a number of significant improvements to the manual and CD toolkit based on user feedback.  It also addresses challenging and complex issues including:

• Planning and performing risk assessment procedures including inquiries of management, those charged with governance and others within the entity and,
• The identification and response to significant risks

Detailed and well structured, the manual provides practical case studies demonstrating the application of auditing standards, while the toolkit component contains over 110 audit forms, checklists and programs designed to assist when performing an audit and applying the ASAs.  The Toolkit documents can be tailored to suit individual practices and audits and aims to help practitioners conduct high quality and cost effective audits of SMEs.

Members of the Institute of Chartered Accountants in Australia are entitled to a discount on this publication. If the discount has not been applied, please refer to the Institute’s website to access the promotional code.

• The addition of an easy reference index in the Manual and Summary document for the Toolkit to find topics, forms and templates easily;
• Improvement of forms and documents in response to feedback from the 2010 edition;
• Practical guidance on audit matters that can easily be overlooked and complex audit concepts and,
• In depth illustrative case study based on a typical small to medium sized business audit.

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  Australian Audit Guide and Toolkit for SMSFs 2012

  Book

  $260.00

PART A CORE CONCEPTS

1. Ethics, ASAs and quality control
2. The risk-based audit overview  
3. Internal control purpose and components
4. Financial report assertions
5. Materiality and audit risk
6. Risk assessment procedures
7. Responding to assessed risks
8. Further audit procedures
9. Accounting estimates
10. Related parties
11. Subsequent events
12. Going concern
13. Summary of other ASA requirements
14. Audit documentation
15. Forming an opinion on a financial report

PART B PRACTICAL GUIDANCE

16. How to use Part B
17. Introduction to the case studies
18. Risk assessment overview
19. Engagement, acceptance and continuance
20. Overall audit strategy
21. Determining and using materiality
22. Audit team discussions
23. Inherent risks identification
24. Inherent risks assessment
25. Significant risks
26. Understanding internal control
27. Evaluating internal control
28. Communicating deficiencies in internal control
29. Concluding the risk assessment phase
30. Risk response an overview
31. The responsive audit plan
32. Determining the extent of testing
33. Documenting work performed
34. Written representations
35. Reporting overview
36. Evaluating audit evidence
37. Communicating with those charged with governance
38. Modifications to the auditor’s report
39. Emphasis of Matter and Other Matter paragraphs
40. Comparative information