The objective of an audit is the examination and evaluation of the financial statements of an organization to make sure that the records are a fair and accurate representation of the transactions they claim to represent.
Audit help businesses uncover problems and ensure that an organization operates effectively.
For those who are inquisitive about the world of auditing and those willing to start a career in auditing, I have put together a brief review of great books in no particular order that will be of help.
1. Auditing for Dummies
If you have no background in auditing and want to learn all the basics in an easy to understand way, I highly recommend this book. This book is authored by Maire Loughran; the first edition was Originally written in 2010 and published by John Wiley & Sons.
This book succeeded in presenting audit in the simplest picture for someone who aspires to learn what auditing is all about.
Not only is the depth of the topic fabulous, but Maire Loughran also succeeded in grabbing and retaining the attention of the reader through the simplicity of the language used in explaining the concepts, with vast real-world working exposure.
Here is what you should get from this book:
Open the book and find:
- A day in the life of an auditor
- Who gets audited and why
- Professional standards and ethics
- How to assess audit risk
- Tips on collecting and documenting audit evidence
- The best way to get to know your client
- Auditing practices for every business angle (revenue, purchases, personnel, and more)
- What you’ll need to complete the audit
- Understand the concepts and theories of auditing
- Conduct internal and external audits
- Ensure accurate and correct records
- Avoid fraudulent practices
2. The Internal Auditing Handbook
This book is an invaluable resource when it comes to the internal auditing field. This book goes over every aspect of the auditing business that you will need to know for a successful career. Each chapter is marked with advice and tips for becoming a better auditor.
There are even multi-choice questions after each chapter designed to help check to understand and help you learn easier.
There are many important topics cover in this book including, setting up internal audit strategy to make sure that this department is a success and really add value to the company. Role of internal audit in the organization, audit ethic, audit approach, and audit planning also details in this book.
If you are working in the internal audit department, or working in others field but want to know more about internal audit as well as the professional student who challenging to get internal audit profession. This book is right for you.
3. Healthcare Fraud
This is a self-proclaimed auditing and detection guide by Rebecca S. Busch. If you’re considering a degree in auditing, this auditing book can show you just how important the role of an auditor is.
You can even learn the basics before starting your classes If you already have your degree, this book will teach you more about the ever-growing industry of auditors, fraud investigators, and healthcare managers.
Healthcare Fraud, tips, and techniques to help you spot and prevent the “red flags” of fraudulent activity within your organization. It’s Eminently readable, it is your “go-to” resource, equipping you with the necessary skills to look for and deal with potential fraudulent situations
Here is the best take away from this book:
- Six new chapters detailing a comprehensive audit model encompassing primary, secondary, information, damages, transparency, and rules-based continuum. Detailed analytic pipelines within each continuum extrapolating components of PHI, dollars involved, operations, products, services, and type of consumer. This integration is the secret sauce to any successful investigation.
- How data mapping and mining can be used as a key tool to maximize the effectiveness of fraud investigations
- Insightful discussion from a number of perspectives; clinical, research, internal audit, investigative, data intelligence, and forensic
- A behind-the-scenes look at internal controls and anomaly tracking systems for ongoing monitoring and surveillance
- Building blocks for understanding the entire healthcare market and its respective players
- Cases and methodologies providing actual audit and investigative tools
- Useful outlines of healthcare fraud prevention, detection, and investigation methods
4. Auditing Cases
Auditing Cases expose you through real-life situations. This book will teach you everything you need to know about auditing in a fun and practical way.
The cases revolve around real companies, some of which you’ve probably heard. If you’re considering a degree in auditing, this book will give you a great idea of what a career in Audit would look like.
Auditing cases is once of the best auditing book that covered many topics related to fraud cases and fraud investigations. This is what internal audit, as well as external audit, should know and master.
Teaching and Learning Experience:
To provide a better teaching and learning experience–for both instructors and students–this program will:
- Engage Students with an Active Learning Approach: The auditing cases capture students’ interest using a lively narrative that introduces emerging accounting-related issues.
- Easily Integrate Cases into your Course: The Instructor’s Resource Manual offers instructional approaches, activity ideas, and group assignments to merge the cases into an existing course.
- Help Students See Concepts in Action: Cases are introduced according to the phase of auditing they demonstrate, presenting students with clear examples of the material
5. Report Writing for Internal Auditors
This book by Angela J. Maniak was created as a tool specifically designed for internal auditors in banks, no matter the size. If you are interested in internal auditing, this is a great book to read.
You will be exposed to key elements to internal auditing such as, structuring reports, choosing a proper tone, deciding on the style, adapting reports and more.
This book also tries to master your internal audit strategy, prepared risks based internal audit plan, as well as annual audit plan. These are what internal auditor should know.
In this book, you will discover:
- What readers do and don’t value in your written reports.
- Why recipients don’t always grasp the significance of the issues you present.
- How you can make it easy for readers to understand and accept your key points.
The secrets to writing reports that emphasize actions and solutions.