The Third Edition of this successful text includes extensive changes, based on feedback from students and lecturers. There is a discussion of auditing and the law beyond the issue of third-party liability; and more coverage of recent developments in audit methodologies and techniques. New chapters include a survey of developments in audit automation, a discussion of the nature and development of the audit market, both in the United Kingdom and the European Union, and an assessment of the impact on auditing of the Cadbury Report on corporate governance, with particular attention to the role of audit committees. Each chapter includes questions for discussion.

Debating Audit Expectations

Debating Audit Expectations

Debating audit expectations

In the first edition of Current Issues in Auditing, Sherer (1985, p. 1) wrote that auditors had ‘come out of the closet. Gone were perceptions of auditing as dull, boring and even insignificant. With a new public image, auditing was heralded as facing an exciting, if sometimes controversial, future (p. 12). Twelve years on, the growth of auditing has led some to suggest that we are now living in the ‘Audit Society’ (see Power, 1994) yet the audit function still stands surrounded by mystique and paradox. Indeed, the expanding reliance placed on the audit function in processes of organizational and social control has been accompanied over the last two decades by a research literature which has cast doubt over the ...

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