This Essential Guide covers the key essential elements and knowledge required to understand the fundamentals of audit and assurance. The key topics covered include:

• The meaning of audit and assurance
• The regulatory environment
• Professional ethics
• Professional responsibility and liability
• Practice management
• The audit approach
• Planning
• Tests of controls
• Introduction to substantive procedures
• Audit evidence
• Substantive procedures: non-current assets
• Substantive procedures: inventory
• Substantive procedures: other current assets
• Substantive procedures: other areas
• Evaluation and review
• Group audits
• Audit-related services
• Assurance services
• Internal audit and outsourcing
• Social, environmental and integrated reporting; Public sector audit
• Reporting
• Current issues