What is the purpose of evidence collected during an ICFR audit?
Answer to relevant QuestionsWhen does the collection of information that is used for the planning process begin? When does it end?What would a first-year audit staff member learn from participating in the audit planning meeting of a client to which he or she has been assigned?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?What do the subjectivity and judgment involved in a procedure have to do with the auditor’s use of the work of others?What are performance reviews? How do they serve as a control activity?
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