Overview
- Includes clear instructions on interacting with clients from audit notice until the final audit report is written
- Offers insight on how to effectively interface with auditors and knowing when to challenge auditors
- Teaches how to review audit findings and final audit reports
Part of the book series: Palgrave Studies in Accounting and Finance Practice (PSAFP)
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Table of contents (19 chapters)
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Front Matter
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Corporate Governance and the Audit Process
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Front Matter
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Pro-active Measures
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Front Matter
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Keywords
About this book
Most university undergraduate and graduate audit classes are geared towards educating prospective auditors but do not provide education for those who will be audit clients and subjected to audits. Future audit clients need to be educated as well as future auditors to ensure that there is a level playing field. Those being audited do not receive the same level of formal education as internal auditors– most client education occurs during the audit itself. The client, once subjected to an audit and faced with the consequences of a failed audit, will learn via trial and error. If left unprepared, managers can suffer financial losses and promotional setbacks; the preparation and education that is needed to be audit ready is lacking.
Of interest to accounting, finance or business students and entry-level practitioners, this book provides the audit education and preparation that has been missing. It shows how to interface with auditors, helping to identify issues, exposures andrisks, and adequately position current and future managers to achieve successful audits. The book also provides mock audit simulation exercises to further prepare prospective audit clients.
Authors and Affiliations
About the author
Ed Danter retired after nearly 42 years with IBM developing, maintaining, and evaluating systems as a member of their corporate audit staff and business controls organizations involved with Sarbanes Oxley and SAS70 audits, with extensive teaching of application systems control and auditability. After leaving IBM, he worked as an adjunct professor at Kean University, USA teaching classes on Auditing Information Systems and Auditing Financial Statements. He currently has his own company, IAE (Internal Audit Education) where he offers education to management and executives to prepare them to be “audit ready,” avoiding the illusion of control.
Bibliographic Information
Book Title: Audit Defense
Book Subtitle: A Management Audit Readiness Guide
Authors: Ed Danter
Series Title: Palgrave Studies in Accounting and Finance Practice
DOI: https://doi.org/10.1007/978-3-030-92466-9
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022
Hardcover ISBN: 978-3-030-92465-2Published: 24 April 2022
Softcover ISBN: 978-3-030-92468-3Published: 24 April 2023
eBook ISBN: 978-3-030-92466-9Published: 23 April 2022
Series ISSN: 2524-8251
Series E-ISSN: 2524-826X
Edition Number: 1
Number of Pages: XXII, 364
Number of Illustrations: 43 b/w illustrations, 22 illustrations in colour
Topics: Accounting/Auditing, Financial Accounting, Risk Management