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AuditNet® Book Reviews July 2003
Auditor’s Risk Management Guide: Integrating Auditing and ERM
by Paul J. Sobel, CPA, CIA
Recent events in the business and global environment highlight the importance of managing risk. In the preface the author asks the question: “So, why does the business world need another book about auditing?” The answer is “…that boards and audit committees will be asking auditors how they plan to adjust their approach.” The Auditor’s Risk Management Guide begins by providing an overview of enterprise risk management or ERM. After this brief introduction and overview of ERM, the author jumps right into a strategy for audit along with a work program. Risk assessment is covered at both the business and process level. There is an entire chapter devoted to auditing the ERM process along with a work program. The last part of the book provides case studies in different operations such as inventory, procurement, accounts payable and more. The book includes a CD-ROM with electronic checklists, audit work programs and tools that are provided in the book. Kudos to Paul for providing this timely book for auditors reviewing ERM and risk management in general.
To order the book click on the following link:
Auditor's Risk Management Guide: Integrating Auditing and ERM by Paul Sobel or visit Aspen Publishers www.aspenpublishers.com
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Unaccountable: How the Accounting Profession Forfeited a Public Trust
By Mike Brewster
Corporate scandals and other misdeeds have increasingly focused on the question: Where were the auditors? This book, written by a former communications director for KPMG and a business journalist, explores the history of the accounting profession focusing on the “transformation of CPAs from independent voices on behalf of the shareholder to close allies of Corporate America.” While there have been other books written about corporate scandals this one takes a close look at the underlying reasons why the audit profession failed in it’s fiduciary responsibility. For practicing auditors this book is a fascinating look at the foundations of our profession starting with the first accountants, how we earned the public’s trust, the quest for growth and when things began to turn sour. The final chapters deal with reform and the future of accounting. A good read for accountants and auditors with an interest in the profession’s darkest hour and roadmap to recovery!
To order this book click here.
