How does the auditor’s control risk assessment affect the preliminary audit program?
Answer to relevant QuestionsWhat audit planning activities are performed to lead up to the control risk evaluation?What are the risks related to cutoff procedures? What sources of information can auditors use to gain knowledge about the auditee’s internal controls? What challenges arise for management and the auditor when an auditee uses complex IT and/or is involved in e-commerce? What do the terms “required degree of control compliance” and “actual degree of control compliance” mean?
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