Knowledge-Based Audits of Commercial Entities, with CD (2012)

No Image
Designed specifically to help practitioners prevail in the current climate of intense scrutiny this book presents the conservative and effective approach needed to conduct a higher-quality audit of nonpublic commercial entities.
  • Author(s): Denise M. Silva CPA
  • Media: Book - Softcover
  • ISBN: 9780808026587
  • Binding: Perfect Bound
  • Pages: 1056
  • Volumes: One (1) volume...
  • Size: 6" x 9"
  • Publish Date: 08/19/2011
  • Offer Number: 0-6440-501
  • Material Id: 10016984-0005
Priority Code

Product Question? Chat with Customer Service or call 888-336-8818 during regular business hours.


Explore the features and facets of Knowledge-Based Audits of Commercial Entities, with CD (2012)


 Read a detailed summary

Designed specifically to help practitioners prevail in the current climate of intense scrutiny, Knowledge-Based Audits of Commercial Entitites, formerly Knowledge-Based Audit Procedures, presents the conservative and effective approach needed to conduct a higher-quality audit of nonpublic commercial entities. Practical discussion and consideration of the day-to-day management of audit engagements enhance the quality of the auditor's practice while easy-to-read and easy-to-understand advice, procedures, and practice aids enable practitioners to put official pronouncements into action immediately. Based on the AICPA's Auditing Standards Board's risk assessment standards, the 2012 Edition features the latest audit tools and includes current information on the ASB's Clarity Project, which aims to clarify U.S. GAAS and converge them with international auditing standards.

The 2012 edition of Knowledge-Based Audits of Commercial Entitites is updated for auditing pronouncements through SAS-121 and includes current updates to FASB Accounting Codification™. In addition, the CD-ROM, which includes the audit workpapers, have been revised to reflect the effects of the new pronouncements. PCAOB's Auditing Standards are also discussed.

Knowledge-Based Audits of Commercial Entitites meets accounting industry standards overseen by the peer review system and contains a document covering the peer review of this book.

CPE credits are available through the CCH Learning Center (see the book Highlights for more information).

This book can be used in conjunction with the GAAS Update Service.

Benefits and Features:

 Learn how this resource benefits you and your firm

Knowledge-Based Audits of Commercial Entities, with CD (2012)

Benefits and Features

  • Checklists, questionnaires, workpapers, sample correspondence, and sample auditor's reports take the auditor through an engagement, from the initial evaluation of a client to the issuance of the auditor's report.
  • Cost-saving measures, featured throughout the book, help auditors perform a more efficient audit.
  • Comes with a free, companion CD-ROM that contains audit programs, correspondence and confirmation letters, practice aids, forms, checklists, Excel workpapers, and auditor's reports. The files on the CD-ROM can be used as templates and edited to suit the practitioner's needs.
  • The topical index and cross-reference section are both designed to locate needed information quickly.


 View the table of contents

Knowledge-Based Audits of Commercial Entities, with CD (2012)

Topics and Content

  • Chapter 1: Auditing and Quality Control Standards and the KBA Methodology
  • Chapter 2: Financial Statement Assertions, Audit Evidence, and Audit Documentation
  • Chapter 3: Pre-Engagement Procedures and Audit Planning
  • Chapter 4: Risk Assessment Procedures: Obtaining an Understanding of the Entity and Its Environment
  • Chapter 5: Assessing the Risks of Material Misstatement
  • Chapter 6: Performing Audit Procedures in Response to Assessed Risks
  • Chapter 7: Extent of Audit Procedures and Sampling
  • Chapter 8: Analytical Procedures
  • Chapter 9: Cash
  • Chapter 10: Investments in Securities, Derivative Instruments, and Hedging Activities
  • Chapter 11: Accounts Receivable and Sales
  • Chapter 12: Inventory
  • Chapter 13: Property, Plant, and Equipment
  • Chapter 14: Prepaid Expenses, Deferred Charges, Intangibles, and Other Assets
  • Chapter 15: Accounts Payable and Purchases
  • Chapter 16: Payrolls and Other Liabilities
  • Chapter 17: Income Taxes
  • Chapter 18: Debt Obligations
  • Chapter 19: Equity
  • Chapter 20: Revenue and Expenses
  • Chapter 21: General Audit Procedures
  • Chapter 22: Evaluating and Concluding the Audit
  • Chapter 23: Auditor’s Reports
  • Accounting Resources on the Web

    Cross-Reference to Original Pronouncements


About the Author(s):

 Learn about the writers and editors
  • Denise M. Silva, CPA, currently a senior writer with CCH, has more than 10 years of experience in accounting and auditing with roles ranging from client service professional to technical resource to adjunct professor.

    Prior to joining CCH, she served as a senior manager in a Mid-Atlantic accounting and professional services firm, which specialized in real estate industry audit, where she served in the firm's quality control and risk management function providing technical accounting, assurance, and financial reporting guidance to partners and managers across all of the firm's industry groups. Additionally, she developed and delivered the firm's risk-based methodology training to all levels of professionals. Previously, she was with a global "Big-4" firm providing client services and managing complicated federal financial statement audits. She also has experience managing financial statement audits for not-for-profit, higher education, technology, software, manufacturing and state and local clients.

    In addition to her writing and development responsibilities, she also serves as an adjunct professor at two accredited universities: Golden Gate University in San Francisco, California, and American University in Washington, D.C., where she teaches Accounting Research and Communication and Advanced Auditing and Assurance Services.

    Ms. Silva is a Certified Public Accountant in California, Maryland, District of Columbia and Virginia is a member of the American Institute of Certified Public Accountants and sits on the Board of Directors of a credit union in California.


 Read product reviews provided by other customers