Auditing
Modern Auditing: Assurance Service and the Integrity of Financial Reporting
By Dr. Arati Pant, Dr. Anoop Pant, Edited by Brice Martin
Modern Auditing: Assurance Services and the Integrity of Financial Reporting is a comprehensive exploration of how auditing practices ensure the accuracy, fairness, and transparency of financial statements in today's dynamic business environment. The primary objective of auditing is to provide independent assurance to stakeholderssuch as investors, regulators, and management-that a company's financial information is free from material misstatements, whether due to fraud or error. This assurance enhances trust in capital markets and promotes accountability within organizations. The book emphasizes the auditor's evolving role from a traditional financial verifier to a strategic contributor who evaluates business risks, internal controls, and compliance with regulatory frameworks. It covers key concepts such as audit planning, risk assessment, sampling techniques, internal control systems, and evidence collection. With growing complexity in global financial systems, the integration of technology, data analytics, and AI in audit procedures is also addressed. Ethical standards and professional skepticism are crucial themes, reinforcing the responsibility of auditors to act with independence and integrity. The book aligns with international auditing standards (e.g., ISA) and reflects current regulatory expectations. Through case studies and real-world applications, it prepares readers to understand and conduct audits that safeguard the credibility of financial reporting and strengthen organizational governance. Modern Auditing: Assurance Services and the Integrity of Financial Reporting provides a comprehensive guide to contemporary auditing practices, ethical standards, and the role of assurance in financial transparency. Contents: 1. Introduction, 2. Audit Reports and the Committee on Public Undertaking, 3. Audit Procedures, 4. Audit Report and Assessments, 5. Auditing of Computerized Accounting System, 6. Rights, Duties and Liabilities of Auditor, 7. Audit of Revenue, 8. Tax Audit Representation, 9. Audits in Accounting.
About the Authors
Dr. Arati Pant is associated with Kumaun University Nainital as Associate Professor in the Department of Commerce for the last 18 years. Prior to this she served as a Research Associate UGC in Department of Commerce Banaras Hindu University Varanasi. She also takes keen interest in guiding Ph.D students. She has a couple of Ph.D awarded under her supervision. Dr. Pant has been actively involved in research and publications and has more than 30 published papers in national journals. She has authored 5 books. She was also an Executive Council and Academic Council member of Kumaun University. She has also participated in more than two dozen of national seminars and presented papers in them. Dr. Pant has done her Ph.D in Commerce from Banaras Hindu University Varanasi. Dr. Anoop Pant is associated with Accurate Institute of Management and Technology as Director and Professor. Prior to this assignment he has served as a Professor in Finance, School of Business Studies, Sharda University. Prior to Sharda University Prof. Pant has held academic administrative assignments in different Institutes in NCR. He has served as the Director of Institute of Advanced Management and Research, Ghaziabad, Director, Accurate Institute of Advanced Management, Greater Noida, Founder Director of Ajay Kumar Garg Institute of Management, Ghaziabad, Director of Jaipuria Institute of Management, Ghaziabad. He has also been Program Director and Professor at Asia Pacific Institute of Management, New Delhi. Dr. Anoop Pant is a professor in the area of Finance and Accounting. He also takes keen interest in guiding Ph.D students. Five research scholars under his supervisions have been awarded Ph.D. At present, he is guiding four Ph.D. scholars. Dr. Pant has been actively involved in research and publications and has more than 20 published/presented research papers in international/national journals and international conferences. He has also authored 20 text books in the area of finance and accounting. Dr. Pant has done his Ph.D from Banaras Hindu University; Varanasi. Prof Pant has been teaching subjects in Finance area to post graduate students of management at various reputed School of Management for the last 29 years.