Understand internal control
Understand internal control in risk assessment as required by GAAS.
Gain an overview of internal control and related key aspects so that you recognize auditor and management roles and responsibilities related to internal control and procedures involved in understanding an entity’s internal control in a risk assessment.
– Recognize the importance of understanding internal control.
various definitions and aspects of internal control, including separation of duties and safeguarding of assets
Financial statement auditors, internal auditors and entity management involved in financial statement audits