What are the auditor’s documentation requirements for an audit of ICFR?
Answer to relevant QuestionsWhat are the types of reports that an auditor can issue for an audit of ICFR? Briefly identify the circumstances justifying each type of report.Multiple- Choice1. The Sarbanes- Oxley Act of 2002 requires management to include a report on the effectiveness of ICFR in the entity’s annual report. It also requires auditors to report on the effectiveness of ICFR. Which ...For each of the following independent situations, indicate the type of report on ICFR you would issue. Justify your report choice. a. The management’s report on ICFR issued by Graham Granary, Inc., includes disclosures ...Define audit sampling. Why do auditors sample instead of examining every transaction? How should the results of a non statistical test of controls sample be evaluated in terms of considering sampling risk?
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