Test Bank for Auditing & Assurance Services 7th Edition By Louwers


Test Bank for Auditing & Assurance Services 7th Edition By Timothy Louwers, Allen Blay, David Sinason, Jerry Strawser, Jay Thibodeau, ISBN 10: 1259573281, ISBN 13: 9781259573286

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Test Bank for Auditing & Assurance Services 7th Edition By Louwers

Test Bank for Auditing & Assurance Services 7th Edition By Timothy Louwers, Allen Blay, David Sinason, Jerry Strawser, Jay Thibodeau, ISBN 10: 1259573281, ISBN 13: 9781259573286

Table of Content

Part ONE: The Contemporary Auditing Environment

1. Auditing and Assurance Services 1
2. Professional Standards 40
PART TWO: The Financial Statement Audit
3. Engagement Planning 75
4. Management Fraud and Audit Risk 117
5. Risk Assessment: Internal Control Evaluation 173
6. Employee Fraud and the Audit of Cash 227
7. Revenue and Collection Cycle 279
8. Acquisition and Expenditure Cycle 336
9. Production Cycle 394
10. Finance and Investment Cycle 443
11. Completing the Audit 500
12. Reports on Audited Financial Statements  540
PART THREE Stand-Alone Modules
A. Other Public Accounting Services 583
B. Professional Ethics 628
C. Legal Liability 676
D. Internal Audits, Governmental Audits, and Fraud Examinations 720
E. Overview of Sampling 762
F. Attributes Sampling 795
G. Variables Sampling 835
H. Auditing and Information Technology 883
Andersen: An Obstruction of Justice? C1
PTL Club—The Harbinger of Things to Come? C5
GM: Running on Empty? C11
Unhealthy Accounting at HealthSouth C14
KPMG: How Many Firms? C17
Something Went Sour at Parmalat C20
GE: How Much Are Auditors Paid? C23
Satyam Computer Services Ltd.—India’s Enron C26
Auditor Changes at Daily Journal Corporation C30
London Has Fallen C33
Lehman Brothers: Subprime Accounting? C34
Bernard L. Madoff: The Fraud of the Century C37
When the Music Stops: Crazy Eddie’s C40

About the Author

Timothy Louwers

Timothy J. Louwers is the Director of the School of Accounting and KPMG Eminent Professor in Accounting at James Madison University.<br>
Professor Louwers received his undergraduate and master’s degrees from The Citadel and his PhD from Florida State University. Prior to beginning his academic career, he worked in public accounting with KPMG, specializing in financial, governmental, and information systems auditing. He is a certified public accountant (South Carolina and Virginia) and a certified information systems auditor. He is also certified in financial forensics.<br>
Professor Louwers’s research interests include auditors’ reporting decisions and ethical issues in the accounting profession. He has authored or coauthored more than 60 publications on a wide range of accounting, auditing, and technology-related topics, including articles in the Journal of Accounting Research, Accounting Horizons, the Journal of Business Ethics, Behavioral Research in Accounting, Decision Sciences, the Journal of Forensic Accounting, Issues in Accounting Education, the Journal of Accountancy, the CPA Journal, and Today’s CPA. Some of his published work has been reprinted in Russian and Chinese. He is a respected lecturer on auditing and technology-related issues and has received teaching excellence awards from the University of Houston and Louisiana State University. He has appeared on both local and national television news broadcasts, including MSNBC and CNN news programs.

Allen Blay

Allen D. Blay is an Associate Professor of Accounting at Florida State University.
Professor Blay completed his PhD at the University of Florida in 2000. He teaches auditing
at all levels and teaches a seminar in auditing research in the doctoral program. His research
interests relate to auditor judgment and decision making. Professor Blay has authored or coauthored
publications on a wide range of accounting and auditing topics in journals such as
Contemporary Accounting Research, Auditing: A Journal of Practice and Theory, Organizational
Behavior and Human Decision Processes, the Journal of Business Ethics, Behavioral
Research in Accounting, Issues in Accounting Education, the International Journal of Auditing,
and the Journal of Accounting, Auditing, and Finance. He is currently Associate Editor
for Issues in Accounting Education and serves on several editorial boards.
Professor Blay has been active in the American Accounting Association, serving on
the auditing education committee and the annual meeting committee as Accounting,
Behavior, and Organizations section chair, among other committees. He is also active in
the American Institute of CPAs, serving in various volunteer roles relating to the Uniform
CPA Exam. Prior to entering academics, Professor Blay worked in public accounting
auditing financial institutions. He currently directs the accounting doctoral program at
Florida State University.

David Sinason

David H. Sinason is the PwC Professor of Accountancy at Northern Illinois University (NIU) and director of the NIU Internal Audit program.<br>
Professor Sinason received a BS in engineering from the University of Illinois, a BS in History from Northern Illinois University, a BBA and MAcc in accounting from the University of North Florida, and a PhD in accounting from Florida State University. He has certifications as a certified public accountant, a certified internal auditor, a certified financial services auditor, and a certified fraud examiner. He also has certification in risk management assurance. Professor Sinason has written more than 50 articles, mostly in the areas of assurance services, fraud prevention and detection, and auditor liability.<br>
Professor Sinason has taught in the areas of accounting information systems, auditing and assurance services, and financial accounting. He has received teaching awards at each of the universities where he has taught including the 2002–2003 Department of Accountancy and Northern Illinois University Awards for Excellence in Undergraduate Teaching.

Jerry Strawser

Jerry R. Strawser is Executive Vice President and Chief Financial Officer at Texas A&M University and holds the KPMG Chair in Accounting.<br>
Prior to his current appointment, Professor Strawser served as dean of Mays Business School at Texas A&M University, interim executive vice president and provost at Texas A&M University, interim dean of the C. T. Bauer College of Business at the University of Houston, and Arthur Andersen & Co. Alumni Professor of Accounting.<br>
Professor Strawser has coauthored three textbooks and more than 60 journal articles. In addition to his academic experience, he had prior public accounting experience at two Big Five accounting firms. He has also developed and delivered numerous executive development programs to organizations such as AT&T, Centerpoint Energy, Continental Airlines, ConocoPhillips, Halliburton, KBR, KPMG, Minute Maid, PricewaterhouseCoopers, McDermott International, Shell, Southwest Bank of Texas, and the Texas Society of Certified Public Accountants. Professor Strawser is a certified public accountant in the state of Texas and earned his BBA and PhD in Accounting from Texas A&M University.

Jay Thibodeau

Jay C. Thibodeau is the Rae D. Anderson Professor of Accounting at Bentley University.<br>
Professor Thibodeau is a certified public accountant and a former auditor. He received his bachelor’s degree from the University of Connecticut in 1987 and his PhD from the University of Connecticut in 1996. He joined the faculty at Bentley in 1996 and has remained there. At Bentley, he serves as the coordinator for all audit and assurance curriculum matters. His off-campus commitments include consulting with the Audit Learning and Development group at KPMG.<br>
Professor Thibodeau’s scholarship focuses on audit judgment and decision making and audit education. He is a coauthor of two textbooks and has written more than 40 book chapters and articles for academics and practitioners in journals such as Auditing: A Journal of Practice & Theory, Accounting Horizons, and Issues in Accounting Education.<br>
Professor Thibodeau served as the President of the Auditing Section of the American Accounting Association for the 2014/2015 academic year. He served on the Executive Committee for the Auditing Section from 2008 to 2010. He has received national recognition for his work five times. First, for his thesis, winning the 1996 Outstanding Doctoral Dissertation Award presented by the ABO section of the AAA. Three other times, for curriculum innovation, winning the 2001 Joint AICPA/AAA Collaboration Award, the 2003 Innovation in Assurance Education Award, and the 2016 Forensic Accounting Teaching Innovation Award. Finally, for outstanding service, receiving a Special Service Award from the Auditing Section for his work in helping to create the “Access to Auditors” program sponsored by the Center for Audit Quality.