Higher Education

Contemporary Auditing, 10th Edition

  • Michael C. Knapp University of Oklahoma
  • ISBN-10: 128506660X  |  ISBN-13: 9781285066608
  • 592 Pages
  • Previous Editions: 2013, 2011, 2010
  • © 2015 | Published
  • College Bookstore Wholesale Price = $132.75
  • Newer Edition Available
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About

Overview

The tenth edition of Knapp's CONTEMPORARY AUDITING utilizes real-world cases to highlight the work environment of auditors. Using real-world examples and pointing out potential red flags, these cases help students to identify audit problem areas. Knapp's CONTEMPORARY AUDITING contains the most recent, compelling, and up-to-date examples. Those cases most widely used by adopters have been retained: Enron Corporation, Golden Bear Golf, Hopkins v. Price Waterhouse, Lehman Brothers, Leigh Ann Walker, Madoff Securities, The Trolley Dodgers, and ZZZZ Best Company. Many of the "returning" cases have been updated to include relevant circumstances and events that have occurred since the publication of the previous edition. This edition features 18 new cases. Three of them are comprehensive cases: AA Capital Partners, DHB Industries, and Navistar International Corporation. New cases in the Audits of High-Risk Accounts section include LocatePlus Holdings Corporation, Powder River Petroleum International, and Take-Two Interactive Software. The sections of the book that focus on ethical issues have three new cases: Accuhealth, Dell, and Wichita Falls. Section 5, Ethical Responsibilities of Independent Auditors, has new cases on IPOC International Growth Fund, Richard Grimes, Staff Accountant, and Ryden Trucking. The final new case is an international case, Longtop Financial Technologies Limited. The tenth edition fully integrates all recent risk assessment standards recently adopted by the auditing community. This casebook can be used to supplement the first undergraduate auditing course, can be used as a primary text for a second undergraduate auditing course, or can be used for a graduate-level auditing seminar.

Features and Benefits

  • NEW CASES: This edition features 18 new cases, including AA Capital Partners, DHB Industries, Navistar International Corporation, LocatePlus Holdings Corporation, Powder River Petroleum International, Take-Two Interactive Software, Accuhealth, Dell, Wichita Falls, IPOC International Growth Fund, and Ryden Trucking. The final new case is an international case, Longtop Financial Technologies Limited.
  • IMPROVED INSTRUCTOR POWERPOINT® DECK: Revamped PowerPoint® slides highlight the key information for each case, allowing you to explain each case quickly. These are available on the instructor companion site.
  • CUSTOMIZED VERSIONS: Using the "Make It Yours" program, you can build your own casebook, including only the cases you need for your course. In the preface, Knapp suggests several versions of a customized textbook for various accounting courses. Visit http://www.cengage.com/custom/makeityours/knapp to get started.
  • KEY AUDITING PRACTICES AND PROCEDURES: By presenting key auditing elements and procedures in real-world contexts, the case format helps students better understand auditing practices. By studying problem audits, students get a dose of reality, seeing the serious consequences that can result from "busted" audits and/or unethical conduct.
  • WELL ORGANIZED: Cases are organized into eight sections to help you organize your course around learning objectives and to readily mix and match cases from semester to semester.
  • DETAILED SOLUTION MANUAL: The solution manual 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. The Instructor's Manual also includes a syllabus for a semester-long auditing course based on this text that can be offered at the graduate or undergraduate level.

Table of Contents

Preface.
1. Comprehensive Cases.
Enron Corporation. Lehman Brothers Holdings Inc. Just for FEET, Inc. Health Management, Inc. The Leslie Fay Companies. NextCard, Inc. Lincoln Savings and Loan Association. Crazy Eddie, Inc. ZZZZ Best Company, Inc. DHB Industries, Inc. New Century Financial Corporation. Madoff Securities. AA Capital Partners, Inc. Navistar International Corporation. Livent, 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. Geo Securities, Inc. Belot Enterprises. Powder River Petroleum International, Inc. LocatePlus Holdings Corporation.
3. Internal Control Issues.
The Trolley Dodgers. Howard Street Jewelers, Inc. United Way of America. First Keystone Bank. Goodner Brothers, Inc. Buranello's Ristorante. Foamex International Inc. 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. David Quinn, Tax Accountant. Dell Inc. AccuHealth, Inc. Wichita Falls.
5. Ethical Responsibilities of Independent Auditors.
Cardillo Travel Systems, Inc. American International Group, Inc. The North Face, Inc. IPOC International Growth Fund, Ltd. Phillips Petroleum Company. Ryden Trucking, Inc. 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.
7. Professional Issues.
Ligand Pharmaceuticals. Sarah Russell, Staff Accountant. Bud Carriker, Audit Senior. Hopkins v. Price Waterhouse. Fred Stern & Company, Inc. (Ultramares Corporation v. Touche et al.). First Securities Company of Chicago (Ernst & Ernst v. Hochfelder et al.). Elizabeth Wallace, Audit Senior. 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. Mohamed Salem El-Hadad, Internal Auditor. Tae Kwang Vina.

What's New

  • This edition features 18 new cases, including AA Capital Partners, DHB Industries, Navistar International Corporation, LocatePlus Holdings Corporation, Powder River Petroleum International, Take-Two Interactive Software, Accuhealth, Dell, Wichita Falls, IPOC International Growth Fund, and Ryden Trucking. The final new case is an international case, Longtop Financial Technologies Limited.
  • The most popular cases have been updated: Enron Corporation, Golden Bear Golf, Hopkins v. Price Waterhouse, Lehman Brothers, Leigh Ann Walker, Madoff Securities, The Trolley Dodgers, and ZZZZ Best Company.

Supplements

All supplements have been updated in coordination with the main title. Select the main title's "About" tab, then select "What's New" for updates specific to title's edition.

For more information about these supplements, or to obtain them, contact your Learning Consultant.

Instructor Supplements

Website  (ISBN-10: 1285066669 | ISBN-13: 9781285066660)

Keep auditing real and relevant for students with immediate access to CONTEMPORARY AUDITING, 9E'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.

Meet the Author

Author Bio

Michael C. Knapp

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.