Question: How can management s documentation of its system and ICFR
How can management’s documentation of its system and ICFR be useful to the auditor?
Answer to relevant QuestionsIf management does not prepare specific documentation when it assesses the effectiveness of ICFR, what does it use for evidence?When are period-end reporting processes conducted? How does this relate to the date of management’s report?How does the auditor gather evidence on the effectiveness of ITGC?How can the use of CAATS prevent an auditor from having to rely on sampling?What is sampling risk?
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