Describe auditing. Distinguish between auditing and accounting. Explain the importance of auditing in reducing information risk. List the causes of information risk, and explain how this risk can be reduced.

THE DEMAND FOR AUDIT AND OTHER ASSURANCE SERVICES

LEARNING OBJECTIVES

After studying this chapter, you should be able to
1-1 Describe auditing.
1-2 Distinguish between auditing and accounting.
1-3 Explain the importance of auditing in reducing information risk.
1-4 List the causes of information risk, and explain how this risk can be reduced.
1-5 Describe assurance services and distinguish audit services from other assurance and non assurance services provided by CPAs.
1-6 Differentiate the three main types of audits.
1-7 Identify the primary types of auditors.
1-8 Describe the requirements for becoming a CPA.