What information does the evidence the auditor gathers using internal control tests provide? What information does the evidence the auditor gathers using substantive testing provide? Which type of evidence is better?
Answer to relevant QuestionsHow does the auditor communicate internal control deficiencies to management and the audit committee in a financial statement audit? Describe management’s report on internal controls over financial reporting. Where is it reported and how often? What role do internal controls play in the corporate governance process?Refer to Exhibit 3-9 for the Report of Independent Registered Public Accounting Firm for Hewlett Packard Company.a. What type of opinion did the auditor issue regarding management’s assessment of internal controls? b. What ...Describe the assertions made by management regarding the accounts in the revenue process.
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