The auditing profession: the auditing profession; audit report; professional ethics; legal liability. The auditing process: audit responsibilities and objectives; audit evidence; audit planning and documentation; materiality and risk; the study of internal control and assessment of control risk; overall audit plan and audit program; audit of the sales and collection cycle; audit sampling for tests of transactions; completing the tests in the sales and collection cycle - accounts receivable; audit sampling for tests of details of balances; the effect of complex EDP systems on auditing. Application of the auditing process to other cycles: audit of the payroll and personal cycle; audit of the acquisition and payment cycle: tests of controls; substantive tests of transactions and accounts payable; completing the tests in the acquisitions and payments cycle: verification of selected accounts; audit of the inventory and warehousing cycle; audit of the capital acquisition and repayment cycle; audit of cash balances. Completing the audit and offering other services: completing the audit; other audit; attestation services and compilation engagements; internal and governmental financial auditing and operational auditing.