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 JOHNSTONE

GRAMLING

RITTENBERG

AUDITING
A Risk-based Approach
11T H E D I T I O N 11T H E D I T I O N

AUDITING A Risk-based Approach

AUDITING A Risk-based Approach
JOHNSTONE | GRAMLING | RITTENBERG JOHNSTONE | GRAMLING | RITTENBERG

To register or access your online learning solution or purchase materials 11T H

for your course, visit www.cengagebrain.com.
EDITION

SE / Johnstone/Gramling/Rittenberg / Auditing: A Risk-Based Approach, 11e ISBN-13: 9781337619455 ©2019 Designer: Stratton Design
Printer: Xxxxx     Binding: Casebound   Trim: 8.5” x 10.875”   CMYK
19455_fm_hr_i-xxxi.indd 4 1/24/18 3:36 PM
 Contents

PREFACE xiii Review Questions and Short Cases 44

ABOUT THE AUTHORS xxvii Fraud Focus: Contemporary and Historical Cases 49
How Can You Learn by Leveraging The Features Application Activities 54
of this Textbook? xxix Academic Research Cases 55

1 Quality Auditing:
Why It Matters 2 2 The Auditor’s ­Responsibilities
Regarding Fraud and
­Mechanisms to Address Fraud:
An Overview of External Auditing 4 Regulation and Corporate
Decision Makers’ Need for Reliable Information
and the Role of a Financial Statement Audit 4 Governance 56
What Is a Financial Statement Audit? 6
Parties Involved in Preparing and Auditing Financial Fraud Defined 58
Statements 9 Misappropriation of Assets 58
Providers of External Auditing Services 9 Fraudulent Financial Reporting 58
Skills and Knowledge Needed by External Auditors 10
The Fraud Triangle 60
Achieving Audit Quality 11 Incentives or Pressures to Commit Fraud 62
Audit Firm Culture 12 Opportunities to Commit Fraud 62
Skills and Qualities of the Engagement Team 13 Rationalizing the Fraud 63
Effectiveness of the Audit Process 13
Reliability and Usefulness of Audit Reporting 13 History of Fraudulent Financial Reporting 64
Factors Outside the Control of Auditors 14 Examples of Recent Frauds and Implications for External
Auditors 64
Professional Conduct Requirements that Help Insights from COSO Studies 64
­Auditors Achieve Audit Quality 15 The Enron Fraud 67
AICPA Requirements: Code of Professional Conduct 16
Fraud: Auditors’ Responsibilities and Users’
SEC and PCAOB: Other Guidance on ­Professional
Responsibilities 25 Expectations 72
International Professional Requirements That Help Fraud-Related Requirements in Professional Auditing
­Auditors Achieve Audit Quality 27 Standards 72

Frameworks for Professional and ­Ethical Decision The Sarbanes-Oxley Act of 2002 as a Regulatory
Making 28 Response to Fraud 74
A Framework for Professional Decision Making 28 Corporate Governance Defined 77
A Framework for Ethical Decision Making 32 Characteristics of Effective Corporate Governance 80
Importance of Client Acceptance and Continuance Responsibilities of Audit Committees 81
Decisions to Audit Quality 35 Significant Terms 84
Risks Considered in Client Acceptance and Continuance
Prompt for Critical Thinking 85
Decisions 37
Other Considerations 39 Review Questions and Short Cases 86
Engagement Letters 39 Fraud Focus: Contemporary and Historical Cases 91
Significant Terms 41 Application Activities 95
Prompt for Critical Thinking 44 Academic Research Cases 97 v

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 vi Contents

3 Internal Control Over Financial

Reporting: Responsibilities of
Management and the External
Importance of Internal Control to the External
Audit 131
Application: Assessing Control Design ­Effectiveness,
­Implementation, and Operating Effectiveness 131
Auditor 98 Significant Terms 135
Prompt for Critical Thinking 137
Importance of Internal Control Over Financial
Review Questions and Short Cases 137
Reporting 100
Fraud Focus: Contemporary and Historical Cases 144
Internal Control Defined 101
Entity-Wide Controls and Transaction Controls 103 Application Activities 145
Control Environment 105 Academic Research Cases 147
Commitment to Integrity and Ethical Values

4
(COSO Principle 1) 106
The Board of Directors Exercises Oversight Responsibility Professional Legal
(COSO Principle 2) 106
Management Establishes Structure, Authority, and Liability 148
­Responsibility (COSO Principle 3) 107
The Organization Demonstrates Commitment to The Legal Environment and the Effects of Lawsuits
­Competence (COSO Principle 4) 107 on Audit Firms 150
The Organization Enforces Accountability Liability Doctrines 150
(COSO Principle 5) 108
Class Action Lawsuits 151
Risk Assessment 109 Contingent-Fee Compensation for Lawyers 151
Management Specifies Relevant Objectives The Audit Viewed as an Insurance Policy: The Expectations
(COSO Principle 6) 109 Gap 152
The Organization Identifies and Analyzes Risk
Applicable Laws and Causes of Legal Action 153
(COSO ­Principle 7) 110
Types of Law and Legal Actions Relevant to Auditors 153
The Organization Assesses Fraud Risk (COSO Principle 8) 110
Parties that May Bring Suit Against Auditors 154
The Organization Identifies and Analyzes ­Significant Change
(COSO Principle 9) 110 Auditor Liability under Contract Law, Common Law,
Control Activities 111 and Statutory Law 156
The Organization Selects and Develops Control Activities Contract Law: Liability to Clients 156
(COSO Principle 10) 112 Common Law: Liability to Third Parties 157
Management Selects and Develops General Controls Over Statutory Law: Liability to Third Parties 158
Technology (COSO Principle 11) 115 Significant Terms 162
The Organization Deploys Control Activities Through Policies
and Procedures (COSO Principle 12) 116 Review Questions and Short Cases 163
Information and Communication 117 Fraud Focus: Contemporary and Historical Cases 167
The Organization Uses Relevant Information Application Activities 168
(COSO Principle 13) 117
The Organization Communicates Internally Academic Research Case 169
(COSO Principle 14) 118

5
The Organization Communicates Externally
(COSO Principle 15) 118 Professional Auditing
Monitoring 120 ­Standards and the Audit­
The Organization Conducts Ongoing and/or Separate ­Opinion Formulation
­Evaluations (COSO Principle 16) 120
Management Evaluates and Communicates Deficiencies
Process 170
(COSO Principle 17) 121
Professional Auditing Standards 172
Management’s Responsibilities for Internal Control
Auditing Standards Issued by the AICPA, IAASB,
Over Financial Reporting 122 and PCAOB 173
Management Documentation of Internal Control 122
Comparing the Auditing Standards 174
Management Reporting on Internal Control Over Financial
Reporting 123 Principles Underlying the Auditing
Evaluating Internal Control Over Financial Reporting 125 Standards 175
Assessing Deficiencies in Internal Control Over Financial PCAOB Guidance—Five Topical Categories
Reporting 127 of Standards 175

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 Contents vii

AICPA Guidance: Principles Governing an Audit 176 Additional Evidence Considerations 247
IAASB Guidance: Objectives of an Audit 176 Auditing Management Estimates 247
Overview of the Audit Opinion ­Formulation Process 177 Auditing Related-Party Transactions 249
Using a Specialist/Expert to Assist with ­Obtaining
Audit Opinion Formulation Process: Accounting Audit Evidence 251
Cycles 179
Documenting Audit Evidence 253
Audit Opinion Formulation Process: Financial Documenting Risk Assessment Procedures 253
­Statement Assertions 180 Documenting Tests of Controls and Substantive
Existence or Occurrence Assertion 181 Procedures 254
Completeness Assertion 181 Documenting Significant Findings and Their Resolution 255
Rights and Obligations Assertion 182 Characteristics of Quality Audit Documentation 255
Valuation or Allocation Assertion 183 Audit Programs 257
Presentation and Disclosure Assertion 184 Applying Decision-Making Frameworks 259
Audit Opinion Formulation Process: Audit Evidence Significant Terms 260
and Audit Procedures 184
Evidence Example: Substantive Audit ­Procedures to Obtain Prompt for Critical Thinking 262
Evidence About ­Management’s Valuation Assertion 185 Review Questions and Short Cases 262
Audit Opinion Formulation Process: Audit Fraud Focus: Contemporary and Historical Cases 268
Documentation 186
Application Activities 272
Five Phases of the Audit Opinion ­Formulation
Academic Research Cases 275
Process 187
Phase I—Making Client Acceptance and Continuance Data Analytics Using ACL 276
Decisions 187
Phase II—Performing Risk Assessment 189
Phase III—Obtaining Evidence About Internal Control 194

7
Phase IV—Obtaining Substantive Evidence About Accounts,
Disclosures, and Assertions 202 Planning the Audit: ­Identifying,
Phase V—Completing the Audit and Making Reporting
Decisions 205
Assessing, and ­Responding
Applying Decision-Making Frameworks 207
to the Risk of Material
Significant Terms 208
Misstatement 278
Prompt for Critical Thinking 209 Materiality 280
Review Questions and Short Cases 210 Materiality Levels 281
Planning Materiality 282
Fraud Focus: Contemporary and Historical Cases 217
Application Activities 219 Identifying and Assessing the Risk of Material
Misstatement 286
Academic Research Cases 221 Client Business Risks 286
The Audit Risk Model 291

6 Audit Evidence 222

Responding to Identified Risk of Material
Misstatement 303
Determining Evidence Needed in the Audit 303
Audit Procedures to Respond to the Assessed Risk of Material
Obtaining Sufficient Appropriate Audit Misstatement 306
Evidence 224 Applying Decision-Making Frameworks 309
Sufficiency of Audit Evidence 226
Appropriateness of Audit Evidence 228 Significant Terms 310
Audit Procedures 234 Prompt for Critical Thinking 311
Types of Audit Procedures 234 Review Questions and Short Cases 314
Timing of Procedures 240
Fraud Focus: Contemporary and Historical Cases 322
Substantive Analytical Procedures 241
Performing Analytical Procedures 243
Application Activities 334
Brief Application of Substantive Analytical Procedures 246 Academic Research Cases 337

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 viii Contents

8 Specialized Audit Tools:

­Attributes Sampling, ­Monetary
Unit Sampling, and Data
Identifying Fraud Risks 411
How do Fraudsters Perpetrate their Schemes?
Identifying Fraud Risk Factors 413
411

Identifying Control Risks 418

­Analytics Tools 338 Controls Related to Existence/Occurrence 419
Controls Related to Completeness 421
Using Sampling and Data Analytics Tools for Controls Related to Valuation 421
­Gathering and Evaluating Audit Evidence 341 Documenting Controls 423

Objectives of Sampling and Risks Associated with Performing Planning Analytical Procedures 425
Sampling 343 Responding to Identified Risks of Material
Nonsampling and Sampling Risks 343 Misstatement 428
Nonstatistical and Statistical Sampling 346 Obtaining Evidence About Internal Control
Attributes Sampling for Tests of Controls 349 ­Operating Effectiveness in the Revenue Cycle 430
Steps in Attributes Sampling 349 Selecting Controls to Test and Performing Tests
of Controls 432
Basic Steps in Sampling Account ­Balances and Considering the Results of Tests of Controls 434
­Assertions: A Nonstatisical Sampling Application 362
Basic Steps in Sampling Account Balances and Assertions 362 Obtaining Substantive Evidence About Accounts,
Nonstatistical Sampling for Substantive Tests of Account Disclosures, and Assertions in the Revenue
­Balances and Assertions 365 Cycle 435
Revenue and Accounts Receivable: Performing Substantive
Statistical Sampling for Substantive Tests of Account Analytical Procedures 437
Balances and ­Assertions: Monetary Unit Sampling Revenue: Substantive Tests of Details 438
(MUS) 367 Accounts Receivable: Substantive Procedures 439
Summary of MUS Strengths and Weaknesses 367 Accounts Receivable: Substantive Tests
Designing and Selecting a MUS Sample 368 of Details—Confirmations 439
Evaluating a MUS Sample 372 Accounts Receivable: Substantive Procedures for the
Using Data Analytics Tools to Obtain and Evaluate Allowance Account 447
Accounts Receivable: Other Substantive Procedures 448
Evidence 377
Performing Substantive Fraud-Related Procedures 449
Defining Data Analytics and Associated Terms 377
Documenting Substantive Procedures 452
Using Data Analytics Tools in the Audit 381
Business Intelligence Platforms 383 Applying Decision-Making Frameworks 454
Applying Decision-Making Frameworks 385 Significant Terms 454
Significant Terms 386 Prompt for Critical Thinking 455
Prompt for Critical Thinking 390
Review Questions and Short Cases 457
Review Questions and Short Cases 391
Fraud Focus: Contemporary and Historical Cases 470
Application Activities 398
Application Activities 480
Data Analytics: Spreadsheet Modelling
and Database Querying 399 Data Analytics Using Excel: A Case in the Context of
Academic Research Cases 399 the Pharmaceutical Industry 485
Data Analytics Using ACL 487

9 Auditing the Revenue

Cycle 400
Data Analytics Using Tableau
Academic Research Cases 489
488

10
Significant Accounts, Disclosures, and Relevant
Assertions 402  Auditing Cash, Marketable
Processing Revenue Transactions 404
An Overview of the Audit Opinion Formulation Process in the
Securities, and Complex
Revenue Cycle 406 Financial Instruments 490
Identifying Inherent Risks 407
Inherent Risks: Revenue 407 Significant Accounts, Disclosures, and Relevant
Inherent Risks: Accounts Receivable 410 Assertions 493

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 Contents ix

Common Cash Accounts: Checking, Cash ­Management, Fraud Focus: Contemporary and Historical Cases 556
and Petty Cash Accounts 493
Relevant Financial Statement Assertions 494
Application Activities 563
An Overview of the Audit Opinion Formulation Process Data Analytics: Spreadsheet Modelling
for Cash Accounts 497 and Database Querying 567
Identifying Inherent Risks 498
Identifying Fraud Risks 499

11
Identifying Control Risks 501
Typical Controls Over Cash 502
 Auditing Inventory, Goods
Implications of Ineffective Controls 505 and Services, and Accounts
Controls for Petty Cash 507 Payable: The Acquisition
Controls for Cash Management Techniques 507
Documenting Controls 507
and Payment Cycle 568
Performing Planning Analytical Procedures 510
Significant Accounts, Disclosures, and Relevant
Responding to Identified Risks of Material Assertions 571
Misstatement 512 Processing Transactions in the Acquisition and Payment
Obtaining Evidence about Internal Control Operating Cycle 572
Assertions Relevant to Inventory 573
Effectiveness for Cash 514
Assertions Relevant to Accounts Payable 574
Selecting Controls to Test and Performing Tests
of Controls 514 An Overview of the Audit Opinion Formulation Process in the
Acquisition and Payment Cycle 575
Considering the Results of Tests of Controls 515
Obtaining Substantive Evidence about Cash Identifying Inherent Risks 575
Accounts, Disclosures, and Assertions 516 Identifying Fraud Risks 577
Cash Accounts: Performing Substantive ­Analytical Identifying Control Risks 578
Procedures 518
Overview of Internal Controls in the ­Acquisition
Cash Accounts: Performing Substantive Tests of Details 518 and ­Payment Cycle 579
Performing Substantive Fraud-Related ­Procedures for Cash Documenting Controls 586
Accounts 524
Documenting Substantive Procedures 525 Performing Planning Analytical Procedures 588
Auditing Marketable Securities 526 Responding to Identified Risks of Material
Significant Accounts, Disclosures, and Relevant Misstatement 592
Assertions 526
Obtaining Evidence About Internal Control
An Overview of the Audit Opinion Formulation Process
for Marketable Securities 528
­Operating Effectiveness in the Acquisition
Identifying Inherent, Fraud, and Control Risks Relevant and ­Payment Cycle 594
to Marketable Securities 528 Selecting Controls to Test and Performing Tests
Performing Planning Analytical Procedures for Marketable of Controls 594
Securities 531 Considering the Results of Tests of Controls 595
Responding to Identified Risks of Material Obtaining Substantive Evidence About Accounts,
Misstatement 531 Disclosures, and Assertions in the Acquisition
Obtaining Evidence about Internal ­Control Operating
and Payment Cycle 598
­Effectiveness for Marketable Securities 532
Substantive Tests of Inventory and Cost of Goods Sold 598
Obtaining Substantive Evidence about Marketable
Substantive Tests of Accounts Payable and Related Expense
Securities 532
Accounts 611
Auditing Complex Financial Instruments 536 Documenting Substantive Procedures 616
Overview of Complex Financial Instruments 536
Applying Decision-Making Frameworks 618
Audit Considerations for Complex Financial
Instruments 536 Significant Terms 619
Applying Decision-Making Frameworks 540 Prompt for Critical Thinking 620
Significant Terms 541 Review Questions and Short Cases 621
Prompts for Critical Thinking 542 Fraud Focus: Contemporary and Historical Cases 630
Review Questions and Short Cases 545 Application Activities 634

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 x Contents

Data Analytics Using Excel: A Case in the Context Applying Decision-Making Frameworks 681
of the Pharmaceutical Industry 637 Significant Terms 682
Academic Research Cases 640 Prompt for Critical Thinking 683
ACL 640 Review Questions and Short Cases 684
Fraud Focus: Contemporary and Historical Cases 690

12
Academic Research Cases 699
 Auditing Long-Lived
Assets and Merger and
Acquisition Activity 642

Significant Accounts, Disclosures, and Relevant

13  Auditing Debt, Equity,
and Long-Term Liabilities
Requiring Management
Assertions 645
Activities in the Long-Lived Asset Acquisition and Payment
Estimates 700
Cycle 645
Relevant Financial Statement Assertions 646 Significant Accounts, Disclosures, and Relevant
An Overview of the Audit Opinion Formulation Process in the Assertions 702
Revenue Cycle 646 Debt 702
Identifying Inherent Risks 647 Equity 703
An Overview of the Audit Opinion Formulation Process
Identifying Fraud Risks 649 for Debt and Equity 705
Identifying Control Risks 650 Identifying Inherent Risks 705
Internal Controls for Long-lived Assets 652 Inherent Risks—Debt 705
Documenting Controls 653 Inherent Risks—Equity 705
Performing Planning Analytical Procedures 654 Identifying Fraud Risks 707
Responding to Identified Risks of Material Identifying Control Risks 709
Misstatement 656 Controls—Debt 709
Controls—Equity 709
Obtaining Evidence About Internal Control
Documenting Controls 710
­Operating Effectiveness for Long-Lived Asset
Accounts and Related Expenses 660 Performing Planning Analytical Procedures 710
Selecting Controls to Test and Performing Tests of Responding to Identified Risks of Material
Controls 660
Misstatement 711
Considering the Results of Tests of Controls 661
Obtaining Evidence about Internal Control Operating
Obtaining Substantive Evidence About Accounts,
Effectiveness for Debt and Equity 712
Disclosures, and Assertions for Long-Lived Asset Selecting Controls to Test and Performing Tests
Accounts and Related Expenses 663 of Controls 712
Performing Substantive Analytical Procedures 664
Substantive Tests of Details for Tangible Assets 666 Obtaining Substantive Evidence About
Substantive Tests of Details for Natural Resources and the Accounts, Disclosures, and Assertions for
Related Expense Accounts 668 Debt and Equity 713
Substantive Tests of Details for Intangible Assets and the Substantive Analytical Procedures—Debt 713
Related Expense Accounts 669 Substantive Tests of Details—Debt 715
Substantive Procedures Related to Asset Impairment 669 Substantive Tests of Details—Equity 716
Substantive Procedures Related to Leases 672 Performing Substantive Fraud-Related ­Procedures
Performing Substantive Fraud-Related Procedures 673 for Debt and Equity 717
Documenting Substantive Procedures 674 Documenting Substantive Procedures 718

Auditing Merger and Acquisition Activities 674 Long-Term Liabilities Requiring ­Management
Valuing the Assets and Liabilities of an Acquisition 675 Estimates 719
Audit Considerations for Valuing Identifiable Assets Warranty Reserves 719
and Liabilities 676 Pension Obligations and Other ­Postemployment Benefits 721
Audit Considerations for Restructuring Charges Related
to an Acquisition 678
Applying Decision-Making Frameworks 723
Audit Considerations for Valuing Goodwill 679 Significant Terms 724

19455_fm_hr_i-xxxi.indd 10 1/24/18 3:36 PM

 Contents xi

Prompt for Critical Thinking 724 Unqualified Audit Reports: U.S. Public Companies 799
Unmodified Audit Reports: U.S. Nonpublic Companies 801
Review Questions and Short Cases 725
Unmodified Audit Reports: Non-U.S. Companies 802
Fraud Focus: Contemporary and Historical Cases 729
Unqualified/Unmodified Audit ­Opinions with Report
Application Activities 730 Modifications 804
Data Analytics Using Excel: A Case in the Emphasis-of-Matter 804
Context of the Pharmaceutical Industry 731 Information about Certain Audit Participants 805
Reference to Other Auditors 806
Academic Research Case 733 Inconsistent Application of GAAP 808
Justified Departure from GAAP 809

14
Substantial Doubt about the Client Being a Going
 Completing a Quality Concern 810
Client Correction of a Material Misstatement in Previously
Audit 734 Issued Financial Statements 814
Qualified Opinions, Adverse Opinions, and ­Disclaimers
Obtain Remaining Audit Evidence 737
of Opinion 816
Detected Misstatements 737
Qualified Opinions 816
Loss Contingencies 742
Adverse Opinions 820
Adequacy of Disclosures 747
Disclaimers of Opinion 821
Noncompliance with Laws and Regulations 752
Review Analytical Procedures 755 Critical Audit Matters and Key Audit Matters 824
The Going-Concern Assumption 757 Key Audit Matters (KAMs) 824
Subsequent Events 763 Critical Audit Matters (CAMs) 826
KAMs or CAMs? 829
Management Representation Letter versus
a ­Management Letter 767 Audit Reports on Internal Control Over Financial
Management Representation Letter 767 Reporting for U.S. ­Public Companies 830
Management Letter 769 Omitted Audit Procedures 834
Engagement Quality Review 771 Applying Decision-Making Frameworks 836
Audit Committee Communications 773 Significant Terms 837
Significant Terms 777 Prompt for Critical Thinking 838
Prompt for Critical Thinking 778 Review Questions and Short Cases 840
Review Questions and Short Cases 780 Fraud Focus: Contemporary and Historical Cases 847
Fraud Focus: Contemporary and Historical Cases 785 Application Activities 850
Application Activities 789 Academic Research Cases 851
Using ACL to Perform Benford Analysis 792
Academic Research Cases 793
ACL APPENDIX 853

15
REFERENCES 869
 Audit Reports for Financial
CASE INDEX 871
Statement Audits 794
INDEX 873
Audit Reporting Principles 796 “WHY IT MATTERS” FEATURE CONTENT 886
Unqualified/Unmodified Audit Reports on Financial AUDITING STANDARDS 889
Statements 798 ADDITIONAL RESOURCES 895

19455_fm_hr_i-xxxi.indd 11 1/24/18 3:36 PM

19455_fm_hr_i-xxxi.indd 12 1/24/18 3:36 PM
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 Preface

The auditing environment continues to change in significant ways. University

graduates entering the auditing profession today should be prepared for a high
standard of responsibility, should be ready to serve the public interest, and
should recognize the emerging issues and continuing points of focus facing
auditors. Examples of today’s emerging issues and continuing points of focus
facing the profession include:
• New accounting guidance from the Financial Accounting Standards
Board on leases and revenue recognition.
• Increased need for critical thinking and professional skepticism.
• Increased and growing use of data analytics tools.
• Continued and increasing importance of ethical and professional deci-
sion making.
• Continued efforts toward international convergence of auditing stan-
dards of the American Institute of Certified Public Accountants (AICPA)
and the International Auditing and Assurance Standards Board (IAASB).
• Reorganization of the Public Company Accounting Oversight Board
(PCAOB) auditing standards to provide auditors and others with a logi-
cal framework and easy access to the standards governing the conduct
of audits of public companies.
• The IAASB’s issuance of new and revised auditor reporting standards,
which require auditors to provide more transparent and informative
reports on the companies they audit, including the disclosure of key
audit matters.
• The PCAOB’s adoption of a new auditing standard on the auditor’s
report, including the disclosure of critical audit matters.
The eleventh edition of Financial Statement Auditing: A Risk-Based
Approach represents the most up-to-date professional auditing guidance avail-
able and reflects the many emerging issues and continuing points of focus in
the profession. This text provides students with the tools they need to under-
stand the full range of issues associated with conducting a quality financial
statement audit in an evolving national and global context.

Revision Themes and New Enhancements in the Eleventh Edition

Coverage of Emerging Data Analytics Tools. Data analytics tools include qual-
itative and quantitative techniques and processes that auditors use to enhance
their productivity and effectiveness in terms of extracting, categorizing, iden-
tifying, and analyzing patterns in their client’s data. Emerging data analytics
tools facilitate testing 100% of a population, enabling the auditor to focus on
potentially erroneous transactions or risky areas of the audit. These emerging
tools also include sophisticated data visualization tools, for example, Tableau.
Data analytics tools also include familiar platforms such as Excel, ACL, and
IDEA; the landscape is changing dramatically and quickly in this space, so
instructors and students must be adaptive to fast-paced change. We introduce

xiii

19455_fm_hr_i-xxxi.indd 13 1/24/18 3:36 PM

 xiv Preface

key terms and explain data analytics tools in an expanded Chapter 8, with
an entirely new section, “Using Data Analytics Tools to Obtain and Evaluate
Evidence.” We also include end-of-chapter problems to reinforce opportuni-
ties to employ data analytics tools within Chapter 8 and the following cycle
chapters (e.g., data analytics in the revenue cycle in Chapter 9).
Auditing Standards Exhibit–PCAOB, AICPA, and IAASB–appears inside the
front cover of this textbook. This exhibit allows for easy access to relevant
standards, and provides a platform for relative comparisons across each of the
standards-setting bodies. End-of-chapter problems require students to review
and apply the material in the Auditing Standards Exhibit. These problems
provide students with practice completing task-based simulations similar to
what they will see on the CPA exam; we highlight these problems with an
identifying icon.
Three New Learning Engagement Features. Students today demand more than
case facts and standard lectures. They require opportunities to engage with the
instructor and classmates on important topics facing the profession.
• “Why It Matters” feature. This feature helps students see beyond the
factual insights provided in the chapters. Elements include for example,
extensions based on in-the-news examples that illustrate fundamen-
tal features and applications of text facts, professional standards in
­foreign jurisdictions, and interesting points that may be tangential to
the text facts, but that should facilitate students’ deep engagement
with the ­chapter. Certain of these features are noted as relating to an
International Focus.
• “Prompt for Critical Thinking—It’s Your Turn!” feature. This feature
encourages students to engage in critical thinking as they acquire knowl-
edge relevant to each chapter. This feature is intentionally creative in
form and substance, and varies widely in structure based upon the learn-
ing objective to which it is related. As an example of one such prompt,
students are asked to consider auditors’ responsibilities with respect to
internal controls around the Foreign Corrupt Practices Act.
• “What Do You Think?—For Classroom Discussion” feature. This fea-
ture provides an avenue by which instructors can facilitate preparation
for class, cognitive engagement, and critical thinking through discus-
sions with other students. Like the Prompt for Critical Thinking fea-
ture, What Do You Think? is creative in form and substance and varies
in unexpected ways to spark students’ interest in engagement with the
chapter topic. This feature is an ideal way for instructors to facilitate an
interesting class discussion using a flipped-classroom approach (either
involving the entire class or within small teams).
Below we provide examples of each of these three new learning engagement
features that appear in Chapter 14 (“Completing a Quality Audit”) with
respect to the learning objective “Obtaining Remaining Audit Evidence on
Noncompliance with Laws and Regulations.”
• The Why It Matters feature articulates the motivation for and provisions
of the Foreign Corrupt Practices Act (FCPA).
• The Prompt for Critical Thinking feature extends this discussion by
prompting students to think about corruption, how to measure it, and
its variation across different jurisdictions.
• The What Do You Think? feature encourages students to consider the
applicability of the FCPA in today’s business and auditing environment.

19455_fm_hr_i-xxxi.indd 14 1/24/18 3:36 PM

 Preface xv

Compliance with the Foreign Corrupt Practices

Act (FCPA) of 1977
Why It Matters

This feature highlights an important law that many companies have purpose of obtaining or retaining business. This provision is
failed to comply with. commonly called the anti-bribery provision of the FCPA.
• Companies that have securities listed on U.S. markets must
The FCPA was written to respond to SEC investigations in the 1970s make and keep financial records that accurately and fairly
revealing that over 400 companies had made questionable or ille- reflect the transactions of the company and must design
gal payments of over $300 million to foreign officials, politicians, and maintain an adequate system of internal accounting
and political parties. The payments involved bribery of foreign offi- controls.
cials to facilitate business operations in their respective foreign • Certain payments to foreign officials are acceptable. These
countries. The main provisions of the FCPA include: include grease payments, which are payments made to an
official to expedite the performance of the duties that the
• No U.S. person or company that has securities listed on U.S. official would already be bound to perform.
markets may make a payment to a foreign official for the

Prompt for Critical Thinking

Before reading this text, had you heard of the Transparency Inter- from most corrupt to least corrupt just from what you know, and
national corruption perception index? Think critically about what (2) guess what their ranking is on a scale from 02100 on the cor-
you know about the political and economic structure of the fol- ruption perception index from 0 (highly corrupt) to 100 (very
lowing countries. In the spaces below, (1) rank the six countries clean):

Country (in alphabetical Rank (1 5 most to 6 5 least corrupt among this list) Estimated corruption perception
order) index (0 2 100)
Belgium
Brazil
New Zealand
Somalia
South Korea
United States of America

After ranking the countries, visit Transparency International and compare your answers and estimates against theirs:

https://www.transparency.org/news/feature/corruption_perceptions_index_2016#table

What are your reactions to what you have learned? What rankings surprised you? How accurate were your rankings?

19455_fm_hr_i-xxxi.indd 15 1/24/18 3:36 PM

 xvi Preface

What Do You Think? For Classroom Discussion

The FCPA of 1977 was enacted a LONG time ago! list are well-known? Focus on one of the enforcement actions
1. Do you think it is still relevant today? Why or why not? (perhaps at the discretion of your instructor) and explain how the
2. Review the following SEC website: company violated the FCPA.

https://www.sec.gov/spotlight/fcpa/fcpa-cases.shtml What are

your impressions? What surprises you? What companies on this

Updates to “Focus on Fraud” Feature. The authors continue their use of this
learning engagement feature, which provides compelling examples of recent
frauds, and the role of the auditor in preventing, detecting, or (sometimes) not
detecting those frauds. Below we provide an example of this learning feature
that appears in Chapter 14 (“Completing a Quality Audit”) with respect to the
learning objective “Obtaining Remaining Audit Evidence on Noncompliance
with Laws and Regulations.”

Focus on Fraud Triton Energy and Noncompliance with Laws

and Regulations

This feature describes a historically important case involving noncom- • The recording of false journal entries by Triton Indonesia’s
pliance with the Foreign Corrupt Practices Act (FCPA) of 1977. Commercial Manager and Controller were made to cover
up the improper payments.
Triton Energy engages in the exploration and production of crude
oil and natural gas in many areas around the world. Triton has tra- These improper payments and false journal entries were
ditionally operated in relatively high-risk, politically unstable areas facilitated because Triton’s CEO, Bill Lee, was an aggressive top
where larger and better-known producers do not operate. Top manager who provided weak tone at the top in terms of his failure
­Triton Indonesia officials (President, CFO, Commercial Manager, to encourage compliance with applicable laws and regulations,
and Controller) were investigated by the SEC for violations of the failure to discourage improper payments, and failure to imple-
Foreign Corrupt Practices Act. These violations included: ment internal controls to deter improper payments. Triton was
ultimately fined $300,000 related to the scandal.
• Improper payments were made to a middleman who used
For further details, see the SEC’s Securities Exchange Act of 1934
the funds to reduce Triton Indonesia’s tax liability.
Release No. 38343 and Accounting and Auditing Enforcement Release
• Improper payments were made to a middleman who used No. 889, February 27, 1997.
the funds to ensure a favorable governmental audit.
• Improper payments were made to a middleman who used
the funds to obtain corporate tax refunds from government
officials.

• To help students prepare for the CPA exam, MindTap for Auditing
includes two pre- and post-tests using author-selected multiple-choice
questions from Becker Professional Education, all tailored to this edi-
tion’s critical learning objectives.

• “Check Your Basic Knowledge” feature. To enhance and expand on the

Becker CPA Exam Questions feature, each chapter includes additional
true-false and multiple-choice questions within the chapter text itself.

19455_fm_hr_i-xxxi.indd 16 1/24/18 3:36 PM

 Preface xvii

Following the discussion of each learning objective within the chapters,

we challenge students to answer four questions (two true-false and two
multiple-choice) to alert students to their effective learning, or alterna-
tively, to their lack of understanding (which should encourage students
to more carefully acquire the concepts relating to each particular learn-
ing objective). Taken collectively, the Becker CPA Exam Questions and
Check Your Basic Knowledge questions ensure that students have the
opportunity to challenge themselves during reading the chapter, thereby
tracking their learning, and after reading the chapter.
• Updated and Expanded Chapter Examples and End-of-Chapter prob-
lems, including “Review Questions and Short Cases,” “Application
Activities,” along with more extensive longer cases: “Fraud Focus:
Contemporary and Historical Cases.” To help instructors identify these
problems, the text includes the following icons that highlight overall
themes: Ethics, Fraud, Professional Skepticism, International Issues,
and Auditing Standards Application Activities. We also rely exten-
sively on using facts from SEC Accounting, Auditing, and Enforcement
Releases (AAERs) and PCAOB Enforcement Actions in the cases to illus-
trate the regulatory implications of auditors’ judgments and decisions.
For most chapters, we have updated the Academic Research Cases,
providing instructors with an opportunity to introduce students to the
relevance of academic research to the auditing profession.
Examples of Selected Cases by Chapter include:
Longtop Financial Technologies (Ch. 1), Bentley’s Brisbane Partnership (Ch. 1),
Wells Fargo (Ch. 2), Weatherford International (Ch. 2), Lime Energy (Ch. 2),
U.S. Department of Defense (Ch. 3), Diamond Foods (Ch. 3), Chesapeake
Petroleum and Supply (Ch. 3), Florida Department of Financial Services (Ch. 4),
Toshiba (Ch. 4), Boeing (Ch. 5), ContinuityXSolutions, Inc. (Ch. 7), Ag Feed
Industries (Ch. 9), China Media Express Holdings (Ch. 9), Monsanto Corpora-
tion (Ch. 9), Agricultural Bank of China (Ch. 10), MagnaChip (Ch. 11), Miller
Energy Resources (Ch. 12), Soyo Group (Ch. 13), Logitech (Ch. 13), 2GO
(Ch. 14), Chelsea Logistics Holding Corp. (Ch. 14), Suiss Finance (Ch. 14),
ImmunoGen, Inc. (Ch. 15), Rolls Royce (Ch. 15), and Westmoreland Coal
Company (Ch. 15).
Expanded View of “Users.” In prior versions, our user-emphasis was on
shareholders, bondholders, regulators, and standards-setters as primary
actors. While of course critical, we now incorporate discussion of the role
that analysts play (e.g., in incentivizing managers, and therefore affecting the
judgments and decisions of users), along with stock market reactions to both
financial accounting and auditing information disclosures. As an illustration of
one such view, we include the following discussion in Chapter 9 (the revenue
cycle), embedded in a Why It Matters feature.

19455_fm_hr_i-xxxi.indd 17 1/24/18 3:36 PM

 xviii Preface

Why It Matters The Incentive for Managers to Commit Fraud in the Revenue Cycle:
The Role of Stock Analysts and Consensus Earnings Calculations

This feature provides insight into the role that stock analyst following To understand this concept better, see the analysts’ forecast report
and consensus analyst earnings per share calculations play in affect- for Ford Motor Company as of June 2017, which we reproduce
ing managements’ incentives to commit fraud. below.

Stock analysts follow companies and issue earnings per share and
revenue forecasts they anticipate for the companies they follow.

This report shows that 16 analysts together, that is, by consensus make predictions about both quarterly and annual earnings per
predict Q1 2017 earnings per share of $0.35 per share, and that the share. Managers do not want to “disappoint” the market by having
actual results were better than that at $0.39 per share. It also shows their earnings results come in “under forecast,” which creates the
that the annual earnings per share for 2016 was $1.76; analysts incentive for earnings manipulation.

19455_fm_hr_i-xxxi.indd 18 1/24/18 3:36 PM

 Preface xix

This report shows that 15 analysts together, that is, by consen- resist because they do not want to report a negative earnings
sus ­predict Q1 2017 revenues at $34.59 billion, while the actual surprise.
revenue that Ford reported exceeded that estimate, coming in at
$36.48 billion. Managers do not want to “disappoint” the market
by having their revenue results come in “under forecast,” which What is a negative earnings surprise or a negative revenue
creates the incentive for fraudulently overstated revenue amounts. surprise?
It is a negative departure from the consensus analyst earnings
forecast or the revenue forecast, for example, lower actual earn-
What does the term “analyst consensus forecast” mean?
ings per share amount compared to the consensus or lower rev-
It means the average earnings per share or revenue based on all enue compared to the consensus expectation.
the analysts that are following the company. If a company is at or
For further details, see
near its consensus forecast and the auditor proposes a material,
income decreasing audit adjustment, client management may https://markets.ft.com/data/equities/tearsheet/forecasts?s=F:NYQ

Hallmark Pedagogical Features

Articulating an audit opinion formulation process to help organize students’
acquisition of the technical material in each chapter. A chapter-opening figure
helps students identify the major phases in the audit process and see how the
steps within that process relate to specific chapters. The textbook describes
how auditors go through a structured judgment process to issue an audit
opinion. We refer to this process as the Audit Opinion Formulation Process,
and it serves as the foundation for this textbook.
The process consists of five phases. Phase I concerns client acceptance and
continuance. Once a client is accepted (or the audit firm decides to continue
to provide services to a client), the auditor needs to perform risk assessment
procedures to thoroughly understand the client’s business (or update prior
knowledge in the case of a continuing client), its industry, its competition,
and its management and governance processes (including internal controls) to
determine the likelihood that financial accounts might be materially misstated
(Phase II). In some audits, the auditor also obtains evidence about internal con-
trol operating effectiveness through testing those controls (Phase III). Much of
what most people think of as auditing, obtaining substantive evidence about
accounts, disclosures, and assertions, occurs in Phase IV. The information gath-
ered in Phases I through III greatly influences the amount of testing auditors
perform in Phase IV. Finally, in Phase V, the auditor completes the audit and
makes a decision about what type of audit report to issue.
Also fundamental to students’ understanding is the framework’s inclusion
of the auditing profession, audit quality, quality judgments, ethical decisions,
and professional liability. Further fundamentals highlighted in the Audit Opin-
ion Formulation Process include discussion of a framework for obtaining audit
evidence, as depicted below.
Recognizing that professional judgment, sufficient appropriate evidence,
and quality decisions are critical to conducting a quality financial state-
ment audit. In addition to the focus on professional judgment throughout the
text, numerous exercises emphasize this key auditing skill, including examples
and end-of-chapter materials based on the business press, PCAOB enforce-
ment actions, SEC filings, and company proxy statements. Further, the end-
of-­chapter materials help ensure that students understand the link between
mandatory financial reporting and auditing, risk assessment, transaction
cycles, and analytical procedures.

19455_fm_hr_i-xxxi.indd 19 1/24/18 3:36 PM

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Prepared by: Prof. Davis

Date: August 12, 2025

Practice 1: Theoretical framework and methodology

Learning Objective 1: Key terms and definitions
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Learning Objective 2: Critical analysis and evaluation
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Learning Objective 3: Research findings and conclusions
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 3: Diagram/Chart/Graph]
Learning Objective 4: Learning outcomes and objectives
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Learning Objective 5: Study tips and learning strategies
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Definition: Experimental procedures and results
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Important: Comparative analysis and synthesis
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Key Concept: Research findings and conclusions
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 8: Diagram/Chart/Graph]
Definition: Critical analysis and evaluation
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Key Concept: Comparative analysis and synthesis
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Section 2: Experimental procedures and results
Important: Fundamental concepts and principles
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 11: Diagram/Chart/Graph]
Remember: Assessment criteria and rubrics
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Note: Study tips and learning strategies
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 13: Experimental procedures and results
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Best practices and recommendations
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 15: Diagram/Chart/Graph]
Note: Historical development and evolution
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Remember: Ethical considerations and implications
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Assessment criteria and rubrics
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Comparative analysis and synthesis
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Remember: Practical applications and examples
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Appendix 3: Ethical considerations and implications
Definition: Learning outcomes and objectives
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 21: Diagram/Chart/Graph]
Example 21: Current trends and future directions
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Important: Case studies and real-world applications
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 23: Diagram/Chart/Graph]
Example 23: Comparative analysis and synthesis
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Important: Research findings and conclusions
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Experimental procedures and results
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 26: Fundamental concepts and principles
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 27: Diagram/Chart/Graph]
Important: Best practices and recommendations
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Historical development and evolution
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 29: Ethical considerations and implications
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Quiz 4: Critical analysis and evaluation
Practice Problem 30: Ethical considerations and implications
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Study tips and learning strategies
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Important: Assessment criteria and rubrics
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Example 33: Literature review and discussion
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Comparative analysis and synthesis
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 35: Diagram/Chart/Graph]
Example 35: Assessment criteria and rubrics
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 36: Practical applications and examples
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Practice Problem 37: Learning outcomes and objectives
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 38: Diagram/Chart/Graph]
Key Concept: Interdisciplinary approaches
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Interdisciplinary approaches
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Appendix 5: Assessment criteria and rubrics
Definition: Experimental procedures and results
• Interdisciplinary approaches
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Practice Problem 41: Critical analysis and evaluation
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
[Figure 42: Diagram/Chart/Graph]
Practice Problem 42: Case studies and real-world applications
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Remember: Current trends and future directions
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 44: Study tips and learning strategies
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Comparative analysis and synthesis
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Practice Problem 46: Historical development and evolution
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Learning outcomes and objectives
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Ethical considerations and implications
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Assessment criteria and rubrics
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Appendix 6: Assessment criteria and rubrics
Important: Research findings and conclusions
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Definition: Key terms and definitions
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Key Concept: Comparative analysis and synthesis
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 53: Theoretical framework and methodology
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 54: Theoretical framework and methodology
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 55: Diagram/Chart/Graph]
Note: Problem-solving strategies and techniques
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 56: Literature review and discussion
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Theoretical framework and methodology
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 58: Diagram/Chart/Graph]
Key Concept: Critical analysis and evaluation
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Critical analysis and evaluation
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Part 7: Theoretical framework and methodology
Remember: Practical applications and examples
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Case studies and real-world applications
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 62: Diagram/Chart/Graph]
Important: Key terms and definitions
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Important: Interdisciplinary approaches
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Literature review and discussion
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Example 65: Critical analysis and evaluation
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Fundamental concepts and principles
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Practice Problem 67: Ethical considerations and implications
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Remember: Research findings and conclusions
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Literature review and discussion
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Introduction 8: Current trends and future directions
Important: Literature review and discussion
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Study tips and learning strategies
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Best practices and recommendations
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Remember: Study tips and learning strategies
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Theoretical framework and methodology
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Remember: Critical analysis and evaluation
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 76: Learning outcomes and objectives
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Study tips and learning strategies
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Important: Key terms and definitions
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Practice Problem 79: Problem-solving strategies and techniques
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Exercise 9: Statistical analysis and interpretation
Note: Theoretical framework and methodology
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Assessment criteria and rubrics
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 82: Interdisciplinary approaches
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Interdisciplinary approaches
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Important: Key terms and definitions
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Remember: Critical analysis and evaluation
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Practice Problem 86: Research findings and conclusions
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Practice Problem 87: Experimental procedures and results
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Learning outcomes and objectives
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Important: Case studies and real-world applications
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Module 10: Learning outcomes and objectives
Key Concept: Historical development and evolution
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Important: Current trends and future directions
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Remember: Current trends and future directions
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 93: Experimental procedures and results
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Practice Problem 94: Learning outcomes and objectives
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
[Figure 95: Diagram/Chart/Graph]
Example 95: Theoretical framework and methodology
• Interdisciplinary approaches
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Study tips and learning strategies
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Experimental procedures and results
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 98: Critical analysis and evaluation
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Remember: Study tips and learning strategies
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Discussion 11: Practical applications and examples
Key Concept: Best practices and recommendations
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Remember: Current trends and future directions
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Case studies and real-world applications
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 103: Diagram/Chart/Graph]
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