Obtaining an Understanding of Internal Control

Description

What is internal control and why do you need an understanding of it? This course explains the importance of understanding internal control in risk assessment as required by GAAS. It provides an overview of what internal control is and related key aspects so that the auditor and management can recognize their roles and responsibilities related to internal control.

Objectives

úRecall factors and procedures that an auditor should consider when obtaining an understanding of the entity and its environment, including internal control. ú Recall definitions and key aspects of internal control from various organizations.

Designed For

Financial statement auditors and entity management involved in financial statement audits