The Crucial Connection - Why You Should Care About Your Client's System of Internal Control

Overview

Conduct risk assessment the right way
Regardless of the size of your client or audit budget, there are specific requirements in accounting standards and generally accepted auditing principles (GAAP) related to auditing internal control for risk assessment purposes.

Take a deep dive into understanding your audit client’s system of internal control to perform a more effective and efficient audit.

Objectives

• Recognize auditors' responsibilities when gaining an understanding of a client and its environment, including its system of internal control.
• Recognize which controls require design & implementation evaluation.
• Recognize auditors' responsibilities specific to risks arising from the use of IT and general IT controls.

Highlights