The 9th Edition includes the following important features and enhancements:

• A "professional judgment" module, designed to accelerate the development of student's professional judgment and based on the AAA Deloitte/Wildman Award-winning KPMG Professional Judgment monograph, is now included in the print copy of the book. Additional resources relating to this module are available through KPMG's University Connection website.
• Increased use of "Stop and Think" questions throughout the book to encourage students to more fully internalize key concepts.
• User-focused, user-friendly improvements.
• Chapter 2 has been updated for recent changes in the audit environment, Chapter 3 presents the latest information available on major firms' audit guidance relating to materiality, and Chapter 6 reflects COSO's new internal control framework.
• Increased use of Practice Insights that provide a link from the textbook material to the real world.
• Improved descriptions of the hands-on EarthWear Mini-Cases that provide students with opportunities to apply audit professional judgment and practice audit procedures.
• Clarifying meaning of technical business and accounting jargon.
• Improved linkage between chapter content and end-of-chapter material.
• References to auditing standards reflect the new codification of AICPA ASB clarity standards.

Here is a sampling of the improvements made in this edition:

Chapter 1, An Introduction to Assurance and Financial Statement Auditing

• Discussion of fundamental concepts of auditing streamlined and clarified

Chapter 2, The Financial Statement Auditing Environment

• Updated to reflect changes in audit environment
• Includes AICPA's "principles underlying an audit" in addition to PCAOB's traditional set of "generally accepted auditing standards"

Chapter 3, Audit Planning, Types of Audit Tests, and Materiality

• Clearer specification of the steps included in audit planning
• Discussion of the application of materiality in an audit has been updated to reflect the current practices of the major auditing firms based on a recent study by Aasmund Eilifsen and Bill Messier.

Chapter 4, Risk Assessment

• Updated to reflect the final PCAOB Risk Assessment Standards
• Improved presentation of the fraud risk assessment process

Chapter 5, Evidence and Documentation

• Updated to reflect the final PCAOB Risk Assessment Standards
• Revised Audit Module on the use of substantive analytical procedures

Chapter 6, Internal Control in a Financial Statement Audit

• Updated to reflect new 2013 COSO Internal Control Framework
• Updated to reflect PCAOB Risk Assessment Standards
• Updated for new SAS on Audit Considerations Relating to a Client Using a Service Organization

Chapter 7, Auditing Internal Control over Financial Reporting

• Revised to present material more concisely

Chapter 8, Audit Sampling: An Overview and Application to Tests of Controls

• Updated for changes in the recently updated AICPA Audit Guide, "Audit Sampling"
• Updated for academic research examining audit sampling in practice.

Chapter 9, Audit Sampling: An Application to Substantive Tests of Account Balances

• Updated for changes in the recently updated AICPA Audit Guide, "Audit Sampling"

Chapters 10–16, Business Process Chapters

• Revised for enhanced clarity and brevity
• Clarified illustrations linking assertions to possible misstatements to example controls and tests of controls
• Updated exhibits and practice insights for recent events
• New EarthWear Mini-Case allowing students hands on application performing a search for unrecorded liabilities
• Added discussion and exhibit outlining how electronic bank confirmations are used in practice and how they have recently helped discover accounting fraud

Chapter 17, Completing the Audit Engagement

• Improved examples to illustrate the possible self-fulfilling prophecy effects of going concern opinions, and to explain the role and impact of commitments in completing an audit
• Clarified discussion of auditor's responsibility for subsequent events
• Enhanced discussion of evaluation of misstatements in light of qualitative materiality considerations.
• New coverage of iron curtain versus roll-over methods of assessing materiality of misstatements

Chapter 18, Reports on Audited Financial Statements

• Updated for recent developments including the new "clarified" form of the ASB audit report

Chapter 19, Professional Conduct, Independence, and Quality Control

• Updated for changes in Code of Professional Conduct
• Discussion of quality control and peer review/inspection updated for recent changes in relevant standards

Chapter 20, Legal Liability

• Updated for important recent cases and statutory law
• Included implications of the Dodd-Frank Act of 2010

Chapter 21, Assurance, Attestation, and Internal Auditing Services

• Updated standards relating to practitioner independence in compilation engagements
• Attestation reports updated for new AICPA standards
• Updated to reflect changes in IIA standards
• Updated to reflect changes to structure around Trust Services principles and practices