Goyo
  • Profile
  • Snapshot
  • Biz Blog
  • Leadership Blog
  • My Advice

For an audit, primary objective of procedures performed to obtain an ...

2/1/2019

0 Comments

 
For an audit, primary objective of procedures performed to obtain an understanding of internal control is for obtaining the knowledge necessary for audit planning. 

And when satisfying obligations to understand the entity and its environment, an auditor would obtain the sufficient understanding of the design and implementation of all control activities relevant to the entity's accounting systems and financial reporting systems. 

On a related note, assessing control risk below the maximum level most likely would involve identifying specific control activities relevant to specific assertions. 

cc: Audit
0 Comments



Leave a Reply.

    Archives

    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    March 2017
    February 2017
    January 2017
    December 2016

    Categories

    All

    RSS Feed

Proudly powered by Weebly
  • Profile
  • Snapshot
  • Biz Blog
  • Leadership Blog
  • My Advice