The 2014 survey of the International Forum of Independent Audit Regulators found that internal control testing is
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REQUIRED
Review the commentary and provide support for your answer to the following questions:
a. Why must control testing cover the entire period in order for the auditor to reach the conclusion that a control is effective?
b. Why are sign-off signature and inquiry considered to be insufficient evidence to demonstrate that controls are effective?
c. What would constitute stronger evidence than sign-off signature and inquiry? Explain why.
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a The CPAB finding seems to be referring to tests of key controls or control related to significant risks Auditing standards indicate that reliance ca...View the full answer
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Related Book For 
Auditing The Art and Science of Assurance Engagements
ISBN: 978-0133405507
13th Canadian edition
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones
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