The Ninth Edition of Knapp's CONTEMPORARY AUDITING: REAL ISSUES AND CASES utilizes real-world cases to highlight the work environment of auditors. These cases help students to identify audit problem areas by using real-world examples and pointing out potential red flags. With thirteen new cases, Knapp's CONTEMPORARY AUDITING: REAL ISSUES AND CASES contains the most recent, compelling, and up-to-date examples, including Lehman Brothers Holdings Inc., First Keystone Bank, Foamex International Inc., Phillips Petroleum Company, and Freescale Semiconductor Inc. Five new cases have also been added to the Audits of High-Risk Accounts section, examining well-known companies such as General Motors, Lipper Holdings, LLC, Geo Securities, Inc., Belot Enterprises, and Regina Company, Inc. The ninth edition fully integrates all recent risk assessment standards recently adopted by the auditing community. This casebook can be used to supplement the first undergraduate auditing course, as a primary text for a second undergraduate auditing course, or for a graduate-level auditing seminar. Selected cases in this text are also suitable for use in financial accounting courses and may be customized into a unique casebook at http://www.cengage.com/custom/makeityours/knapp. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.