Why is audit file documentation required for the auditor’s decision on whether to rely on controls in the audit planning?
Answer to relevant QuestionsWhy do many organizations have documentation of their internal control system?What are the implications for the audit program if tests of key controls indicate they are operating effectively for the whole period being audited? What are the implications if a key control is tested and a high degree of ...Why might manual control procedures differ from IT control procedures, even if both are directed at the same control objective? How does professional skepticism help financial statement auditors meet their responsibilities to communicate internal control deficiencies? The four questions below are taken from an internal control questionnaire. For each question, state (i) one control test you could use to find out whether the control technique was really used, and (ii) what error could ...
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