How does the auditor plan for the ICFR audit? For the financial statement audit? In other words, what linkages are important to develop and document as a part of drafting the audit plan?
Answer to relevant QuestionsWhat impact does the work of others have on decisions the auditor makes about work he or she must perform?In what way can work on the control environment performed by others affect the auditor’s work?What is important to successful empowerment of employees and delegation of authority? How many opinions does the independent auditor issue as a result of the annual engagement?What does AS 3 state in terms of sufficiency required of audit documentation and evidence it must provide?
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