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Contemporary Auditing 11th Edition

Michael C. Knapp

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  • ISBN-10: 1337457825
  • ISBN-13: 9781337457828
  • STARTING AT $20

  • STARTING AT $59.49

  • ISBN-10: 1305970810
  • ISBN-13: 9781305970816
  • Bookstore Wholesale Price $112.50
  • RETAIL $149.95

Overview

CONTEMPORARY AUDITING, 11th Edition examines factors that often lead to problem audits and failures and has updated its most popular cases, including Enron Corporation, The Boeing Company, Golden Bear Golf, Kaset Thai Sugar Company, Lehman Brothers, Leigh Ann Walker, Madoff Securities, and others. Fifteen new cases show high-risk audits. Avon and Saks Fifth Avenue cases highlight internal control while two additional cases emphasize ethics and two cases focus on professional roles. Ernst & Young, Internet Infamy, and Texas Drug Warehouse cases address professional issues and an international case reviews Olympus. The book integrates new professional auditing and ethical standards with an updated Instructor’s Manual.

Michael C. Knapp, University of Oklahoma

Michael Knapp has taught undergraduate and graduate auditing courses for more than thirty years. He has developed numerous online CPE courses that focus on a wide range of auditing topics, including the COSO internal control framework, the most common types of accounting frauds, and the impact cognitive biases have on the quality of professional audit services. Professor Knapp has also testified in several major litigation cases involving accounting and auditing issues. For three years, he served as a consultant with the FBI on a major white collar criminal case. Recently, he accepted an invitation from the FBI to speak at a national conference attended by more than 500 FBI agents and other federal law enforcement officers. His honors at the University of Oklahoma include, among many others, the Harold E. Hackler Outstanding MBA Professor (determined by a vote of OU’s MBA students), the Outstanding Oklahoma Accounting Educator (awarded by the Oklahoma Society of CPAs), the Delta Sigma Pi Professor of the Year (awarded by the OU undergraduate business students’ honor society), the David Ross Boyd Professorship (a university-wide designation for teaching excellence awarded to one professor annually), and the McLaughlin Chair in Business Ethics.
  • KEY AUDITING PRACTICES AND PROCEDURES ARE PRESENTED IN REAL WORLD CONTEXT: By embedding key auditing elements and issues in real-world contexts, Knapp’s cases capture students’ attention and enhance their comprehension of those topics. The real-world settings also allow students to identify factors and circumstances that undercut the quality of independent audits and result in serious and undesirable consequences for audit clients, audit firms, and individual auditors.
  • LAUNCH STRATEGIES PROMPT DISCUSSION AND ASSIST IN YOUR PREPARATION: This book’s invaluable Instructor’s Manual identifies 13 strategies or tactics that you can use to launch in-class coverage and discussion of Knapp’s cases. To maintain students’ interest, you can employ a variety of these techniques to introduce the individual cases assigned in a course.
  • DETAILED INSTRUCTOR’S MANUAL WITH SOLUTIONS OFFERS TRUSTED SOLUTIONS AND TEACHING AIDS: The Instructor’s Manual for this edition provides a detailed solution for each case. Each case solution includes a case synopsis, a list of key facts (that can be used as a teaching template), a list of instructional objectives, suggestions for use (tips on how to integrate the given case into a course), and suggested answers to each case question.
  • TURNKEY SYLLABUS IS IDEAL FOR GRADUATE COURSE: The Instructor’s Manual includes a "turnkey" syllabus for a semester-long graduate auditing course organized around this text.
  • IMPROVED INSTRUCTOR POWERPOINT® DECK PROVIDES IMPORTANT VISUAL SUPPORT FOR YOUR COURSE: Revamped PowerPoint® slides highlight the key facts and circumstances for each case, allowing you to explain each case quickly. These slides are available on the Instructor Companion Site for your convenience.
  • USE OF CASES LEADS TO IMPROVED COURSE EVALUATIONS: Knapp’s adopters, like you, consistently report that the use of this book’s auditing cases favorably impacts both students’ course evaluations and instructor evaluations.
  • TIMELY CASEBOOK CONSISTENTLY PRESENTS THE LATEST CASES: In keeping with the author’s focus on presenting the latest auditing issues, this edition features 15 new cases, including Le-Nature’s Inc.; Bankrate, Inc.; Overstock.com, Inc.; Parker-Halsey Corporation; Avon Products, Inc.; Saks Fifth Avenue; Zane Corbin, Accounting Major; Caesars Entertainment Corporation; Madison Wells, Accounting Manager; Tillman Rollins, Office Managing Partner; Washington Council Ernst & Young; Internet Infamy; Texas Drug Warehouse; and Olympus Corporation.
  • ORGANIZATION OF CASEBOOK OFFERS YOU FLEXIBILITY IN PRESENTATION: Cases are organized into eight sections to help you mix and match cases from semester to semester. In addition, two indexes -- Summary of Topics by Case and Summary of Cases by Topic -- help you quickly identify the cases that best meet your specific course needs.
  • CUSTOMIZED VERSIONS ENABLE YOU TO BUILD YOUR OWN CASEBOOK: You can use the Compose program to customize this book, including only the cases you need for your course. In the preface, Knapp suggests several versions of this customized textbook for specific accounting courses. Visit http://compose.cengage.com/content/home to get started.

Contemporary Auditing

TABLE OF CONTENTS

Preface.
1. COMPREHENSIVE CASES.
Enron Corporation. Lehman Brothers Holdings Inc. Just for FEET, Inc. Health Management, Inc. The Leslie Fay Companies. Le-Nature’s Inc. Navistar International Corporation. Livent, Inc. ZZZZ Best Company, Inc. DHB Industries, Inc. New Century Financial Corporation. Madoff Securities. AA Capital Partners, Inc.
2. AUDITS OF HIGH-RISK ACCOUNTS.
Jack Greenberg, Inc. Golden Bear Golf, Inc. Take-Two Interactive Software, Inc. General Motors Company. Lipper Holdings, LLC. CBI Holding Company, Inc. Bankrate, Inc. Belot Enterprises. Powder River Petroleum International, Inc. LocatePlus Holdings Corporation. Overstock.com, Inc. Parker-Halsey Corporation.
3. INTERNAL CONTROL ISSUES.
The Trolley Dodgers. Howard Street Jewelers, Inc. Avon Products, Inc. First Keystone Bank. Goodner Brothers, Inc. Buranello’s Ristorante. Saks Fifth Avenue. The Boeing Company. Wal-Mart de Mexico.
4. ETHICAL RESPONSIBILITIES OF ACCOUNTANTS.
Creve Couer Pizza, Inc. F&C International, Inc. Suzette Washington, Accounting Major. Freescale Semiconductor, Inc. Wiley Jackson, Accounting Major. Arvel Smart, Accounting Major. Zane Corbin, Accounting Major. Dell Inc.
5. ETHICAL RESPONSIBILITIES OF INDEPENDENT AUDITORS.
Cardillo Travel Systems, Inc. American International Group, Inc. Caesars Entertainment Corporation. IPOC International Growth Fund, Ltd. Le-Nature’s Inc., Part II. Richard Grimes, Staff Accountant.
6. PROFESSIONAL ROLES.
Leigh Ann Walker, Staff Accountant. Bill DeBurger, In-Charge Accountant. Hamilton Wong, In-Charge Accountant. Tommy O’Connell, Audit Senior. Avis Love, Staff Accountant. Charles Tollison, Audit Manager. Madison Wells, Audit Manager. Tillman Rollins, Office Managing Partner.
7. PROFESSIONAL ISSUES.
Ligand Pharmaceuticals. Sarah Russell, Staff Accountant. Washington Council Ernst & Young. Internet Infamy. Fred Stern & Company, Inc. (Ultramares Corporation v. Touche et al.). First Securities Company of Chicago (Ernst & Ernst v. Hochfelder et al.). Texas Drug Warehouse. Frank Coleman, Staff Accountant. Olivia Thomas, Audit Senior.
8. INTERNATIONAL CASES.
Longtop Financial Technologies Limited. Kaset Thai Sugar Company. Republic of Somalia. Republic of the Sudan. Shari’a. Olympus Corporation.

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

FOR INSTRUCTORS

Companion Website

ISBN: 9781305970830
Keep auditing real and relevant for students with immediate access to Contemporary Auditing, 11E's companion website. This resource allows you to download the Solution Manual (with instructor notes) from the password-protected, instructor-only section of the site.