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Tables of Contents for Assurance Services Within the Auditing Profession
Chapter/Section Title
Page #
Page Count
About the Authors
ix
 
Preface
xi
 
Acknowledgments
xiii
 
Executive Summary
xvii
 
Defining Assurance Services
xvii
 
Assurance Service Developments in Public Accounting
xviii
 
Assurance Service Opportunities for Internal Auditing
xix
 
The Focus Group Findings
xx
 
Case Studies
xxi
 
Action Plan
xxii
 
Introduction and Background
1
20
Description of the Research
2
1
Overview
2
1
Defining Assurance Services
3
4
Relationship between Assurance, Attestation, and Auditing
4
2
Relationship between Assurance Services and Consulting Services
6
1
Assurance Service Developments in Public Accounting
7
8
Challenges Facing the Public Accounting Profession
7
1
Declining A&A Revenue
8
1
The AICPA/CICA Special Committee on Assurance Services
8
1
Subsequent AICPA/CICA Task Forces
9
1
Electronic Commerce Assurance Services Task Force
9
4
Information Systems Reliability Task Force
13
1
ElderCare Task Force
14
1
Other AICPA Activities
14
1
IFAC Activities
14
1
Summary of Public Accounting Activities
15
1
Assurance Service Opportunities for Internal Auditing
15
6
Implications of the AICPA/CICA Activities for Internal Auditing
15
1
Identifying New Assurance Service Opportunities for Internal Auditing
16
1
External Information
16
3
Internal Information
19
1
Applications to Internal Auditing
20
1
Professional Standards
21
14
The Parties Involved
21
2
Subject Matter
23
1
Criteria
23
2
Assertion
25
1
Attestation/Assurance Activities
25
3
Levels of Assurance
25
1
Acceptable Level of Risk
26
1
Form of Opinion
26
1
Agreed-Upon Procedures
27
1
Attest and Direct Assurance Engagements
27
1
Reporting
28
1
Evolution of the Professional Standards
29
1
Consulting Standards
29
2
Relevance to Internal Auditing
31
4
Focus Group Discussions: Internal Auditor Perspectives on Assurance Services
35
14
Focus Group Goals
35
1
Focus Group Methods
35
1
Findings
36
11
Internal Auditors are Unaware of the Profound Changes Occurring in Public Accounting
36
1
Internal Auditors Provide a Wide Variety of Assurance Services
37
1
Public Accountants and Internal Auditors Bring Different Skills, Resources, and Expertise to Assurance Services
38
1
Advantages the Public Accountants Have for Providing Assurance Services
39
3
Advantages that Internal Auditors Have for Providing Assurance Services
42
2
There are Many Opportunities for Internal Auditors and CPAs to Provide Assurance Services in Partnership, and This is Beginning to Occur
44
2
It is Important to Educate Management about Internal Auditor's Assurance Services Capabilities and Experience
46
1
Discussion
47
2
Summary of Case Studies
49
12
Assurance Service Characteristics
50
4
Subject Matter
51
1
Inside vs. Outside the Organization
51
1
Information vs. System
51
1
Attest vs. Direct
51
1
Assurance vs. Consulting
52
1
Management Drivers
52
2
Other Observations
54
1
Case Study Abstracts
54
7
Business Processes at Ameritech
54
1
Customer Services at Blue Cross of California
55
1
Risk Assessment at Energy
56
1
System Development at Federal Express
56
1
Outside Computer Services at Fidelity Investments
57
1
Performance Appraisal at Group Health Incorporated (GHI)
57
1
Financial Reporting System at Queensland
58
1
Logistics at Royal Agricultural Society
59
1
Department Merger at Santa Barbara County
60
1
Ameritech: Business Process Auditing
61
12
Introduction and Background
61
1
The Assurance Service: Business Process Audits
62
6
The Audit Process
63
1
Analysis Phase
63
1
Risk Assessment Phase
63
1
Testing Phase
64
1
Recommendation Phase
64
1
Evaluation and Feedback Phase
65
1
Planning and Implementing Business Process Audits
65
1
The Challenge of Staffing Business Process Audits
66
2
The Challenge of Managing Dual Roles
68
1
The Challenge of Changing a Process
68
1
Outcomes
68
5
Contributions to Ameritech
68
1
Role and Image of Internal Auditing
69
1
Achieving Goals
70
1
Next Steps
70
1
Summary
71
2
Blue Cross of California: Corporate Quality Review --- Inquiry Accuracy
73
8
Introduction and Background
73
2
Monitoring Customer Satisfaction
73
1
Corporate Quality Review
74
1
The Assurance Service: Telephone Inquiry Quality
75
3
The Reviw Process
75
1
How the Data Are Used
76
1
Controlling the Quality of the Quality Control Process
77
1
Implementation Problems
77
1
Outcomes
78
3
Unexpected Impacts
78
1
Reception in the Organization
79
1
Reception Outside the Organization
79
1
Future
79
2
Entergy: Risk Assessment
81
12
Introduction and Background
81
1
The Assurance Service: Risk Assessment of ET&M
81
4
Staff and Participants in the Risk Assessment
82
1
Documentation
82
1
Assessment Process
83
2
Assessment Results
85
2
Outcomes
87
3
Response by Entergy Management and Staff
88
2
Discussion
90
3
FedEx Express: System Development Assurance Services
93
8
Introduction and Background
93
1
The Assurance Service: The System Development Group (SDG)
94
4
Getting Involved
95
1
SDG Roles
96
1
SDG Staffing
97
1
Implementation Challenges
97
1
Recent Successes
98
1
Outcomes
99
2
Fidelity Investments: System Reliability Assurance for Service Bureaus
101
6
Introduction and Background
101
1
Assurance Service I: Third-Party Software
101
2
Assurance Service II: Extranet
103
1
Outcomes
104
3
Group Health Incorporated: Customer Performance Assurance Services
107
4
Introduction and Background
107
2
The Assurance Service: Performance Appraisal
108
1
Outcomes
109
2
Queensland Department of Natural Resources: Financial Statements and Government Compliance Assurance Services
111
8
Introduction and Background
111
1
Assurance Service I: Departmental Financial Statement Verification
112
2
Goals of Internal Auditing Review of Financial Statements
112
1
Risk of Qualification
112
1
Timeliness of the Review Process
113
1
Reduction in Fees
113
1
The Verification Process
113
1
Outcomes of the Departmental Financial Statement Verification
114
1
Assurance Service II: Compliance with Financial Management Policy
114
3
Outcomes: Compliance with Financial Management Policy
117
2
Royal Agricultural Society of N.S.W.: Relocation of the Royal Easter Show
119
10
Introduction and Background
119
1
The Assurance Service: Assessing and Managing the Risk of Relocating the Royal Easter Show
120
1
Description of the Assurance Project
120
3
Project Implementation and Problems
123
1
The Re-described Project
124
1
Outcomes
125
4
Assessing the Project's Results
125
1
Results for the Consultant
126
1
Results for the Organization
127
1
Results Outside the Organization
127
1
Implications for Assurance Services
127
1
Other Impacts
128
1
County of Santa Barbara: Consolidation of County Clerk-Recorder's Department and Assessor's Department
129
8
Introduction and Background
129
2
The Assurance Service: A Feasibility Study of Consolidating Two County Offices
131
5
Staffing the Project
132
1
Methodology
132
1
Feasibility Study Findings
132
1
Internal Auditing Analysis and Recommendations for Implementing the Consolidation
133
1
Evaluation Criteria
134
2
Outcomes
136
1
Cost Savings
136
1
Process Improvements
136
1
Implementing the Consolidation
136
1
Evaluating Criteria
136
1
Effects on Internal Auditing
136
1
Summing Up: An Action Plan for for Internal Auditors
137
2
References
139
2
The IIA Research Foundation Board of Trustees --- 1999/2000
141
2
The IIA Research Foundation Board of Research Advisors --- 1999/2000
143