Prepare for the challenging responsibilities in public accounting today as Knapp’s CONTEMPORARY AUDITING, 12E exposes you to a variety of high-risk audits. Numerous high-profile and current cases teach you to recognize red flags common in accounting fraud, including missing documents, porous or nonexistent internal controls and implausible relationships between key financial statement items and financial data that are literally “too good to be true.” You also examine the most common causes of failures in independent audits: client personnel who intentionally subvert an audit or auditors who fail to follow professional responsibilities. This edition discusses and dissects challenging circumstances that arise in audits to prepare you to handle problematic situations in your own career. You acquire an understanding of auditing standards, audit procedures and ethical principles related to independent auditing that can translate to improved performance on the CPA exam and even career success.

Knapp’s CONTEMPORARY AUDITING, 11E prepares you for the challenging responsibilities you will face in the public accounting profession. This casebook stresses the “people” aspect of independent audits. You learn how to avoid “audit failures” most often due to client personnel who intentionally subvert an audit or auditors who fail to carry out their responsibilities. This book’s detailed review of problem audits helps you recognize the red flags common to failed audits. Discussing and dissecting these challenges prepares you to handle potential problematic situations in your own professional career. You also acquire a higher-level understanding of auditing standards, ethical principles, audit procedures, and other issues related to independent auditing. By studying these topics in memorable real-world context, you achieve a more in-depth, intuitive comprehension of auditing fundamentals, which translates into improved performance on the CPA exam and other professional exams.