Question: Would the auditor be likely to test and attempt to
Would the auditor be likely to test and attempt to rely on ICFR for the financial statement audit if ICFR changed during the year? Why?
Answer to relevant QuestionsEven if ICFR is expected to have been effective for the entire fiscal year, why might the auditor choose to NOT test effectiveness during the year?What does AS 3 state in terms of sufficiency required of audit documentation and evidence it must provide?What is “tone at the top,” and how does it relate to fraud?How is IT important to likely sources of misstatement?How can the use of CAATS prevent an auditor from having to rely on sampling?
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