Preliminary evaluation of internal control, Auditing

In order for auditor to perform audit as per GAAS, only programming independence is required from the audit client.

Ans: Yes I agree with the statement as:
Programming independence essentially protects the auditor's ability to select the most appropriate strategy when conducting an audit.

In the preliminary evaluation of internal control, auditor documents internal control systems of the audit client. Auditor has only one method- narrative- for providing the overview of the internal control systems.

Ans: Other procedures may also be performed where the information to be obtained there from may be helpful in identifying risks of material misstatement. Examples of such procedures include:

• Internal Control Questionnaire (ICQ), and:

• Accounting and control system flowcharts.

Posted Date: 3/16/2013 3:43:35 AM | Location : United States







Related Discussions:- Preliminary evaluation of internal control, Assignment Help, Ask Question on Preliminary evaluation of internal control, Get Answer, Expert's Help, Preliminary evaluation of internal control Discussions

Write discussion on Preliminary evaluation of internal control
Your posts are moderated
Related Questions
Following three frameworks/ concepts are an integral part of the ‘world of auditing' which may be used by auditors throughout their audit engagements. (i) Overview of the audit

Analyse the ratios in conjunction with the additional information and identify from your analysis, implications for the audit and any particular audit steps that need to be underta

I need a 5 schedules like the sample on the attachment please follow the Instructions you will see in the instructions attachments 4 companies and you have to choose 5th one by yo


Banks The Authoritative documents are: The Central Bank of Kenya Act, The Companies Act Cap 486. IAS 30 Disclosure in the Financial statements of Banks and Similar

Ask question #MA. Evaluate the strengths and weaknesses of preview Company''s control environment B. What factors in Preview company''s control environment have led to and facilit

ILLEGAL ACTS Auditors may uncover criminal offences committed by a client or an employee of the client. This puts them in a difficult place, though the auditor must act careful

should your test for unrecorded liabilities be affected by the fact that a letter is obtained in which a responsible management official certifies that to the test of his knowledge

Importance of Related Party Transactions Whenever the existence of about transactions and parties among such parties are considered ordinary features of business, the auditor

What is business risk and what controls should organizations have in place?  Business Risk and Controls Business or operational risks related to the activities carried out