Whittington/Pany's Principles of Auditing, is a market leader in the auditing discipline and the only text in this market which uses the balance sheet approach (vs. the cycles approach). Until October 2002, Ray Whittington was a member of the Audit Standards Board and prior to Ray being on the ASB Kurt Pany was on the board. This has had a major impact on this revision of the text as Whittington has been involved in the audit standards creation process. Principles of Auditing presents concepts clearly and proactively monitors changes in auditing making the relationship between accounting and auditing understandable. The 14th edition maintains the organization and balance sheet orientation, while adding and enhancing topics of Risk, Assurance Services, Fraud, E-Commerce, and the latest auditing standards to meet the needs of the current marketplace.