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2024 | OriginalPaper | Chapter

1. Fundamentals of Auditing Financial Reports

Author : J. Christopher Westland

Published in: Audit Analytics

Publisher: Springer International Publishing

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Abstract

Audits are independent examinations of the records of an organization to ascertain how far the financial statements present a true picture of the firm and that accounting systems are well controlled, legal, and accurate. Auditing has become such a ubiquitous phenomenon in the world that academics have chronicled the transition to “Audit Societies.” The early twentieth century saw the standardization of auditors’ tests and reporting. Statistical sampling and computer tools to conduct statistical samples and opinions based on them are an integral part of modern auditing. This chapter surveys the state of the profession and what the twenty-first century auditor needs to know.

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next chapter Foundations of Audit Analytics
Literature
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Metadata
Title
Fundamentals of Auditing Financial Reports
Author
J. Christopher Westland
Copyright Year
2024
Book
Audit Analytics

Print ISBN: 978-3-031-47463-7

Electronic ISBN: 978-3-031-47464-4

Copyright Year: 2024

DOI
https://doi.org/10.1007/978-3-031-47464-4_1