Learn about the concepts and procedures of audit and assurance in this comprehensive guide. Understand the importance of audit credibility, the role of audit committees, and the impact of competition on auditor independence. Explore the different types of auditors and their responsibilities. Discover the procedures for addressing uncorrected misstatements and identifying going concern indicators. Gain insights into audit risk and the auditor's response to each risk. This guide is essential for students studying audit and assurance.