You are the auditor of a medium-sized business with annual revenues of approximately $10 million. Before you

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You are the auditor of a medium-sized business with annual revenues of approximately $10 million. Before you begin the audit, you review the company's internal control system.
a. Why is this preliminary step necessary? What are you hoping to learn?
b. If you reviewed the company's internal control system before last year's audit, is it necessary to do it again this year? Explain why or why not.
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Financial Accounting A User Perspective

ISBN: 978-0470676608

6th Canadian Edition

Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry

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