31386 paragraphs found
The auditor’s understanding of the entity’s system of internal control is obtained through risk assessment procedures performed to understand and evaluate each of the components of the system of internal control as set out in …
The components of the entity’s system of internal control for the purpose of this ASA may not necessarily reflect how an entity designs, implements and maintains its system of internal control, or how it may classify any particular component. Entities may …
The way in which the entity’s system of internal control is designed, implemented and maintained varies with an entity’s size and complexity. For example, less complex entities may use less structured or simpler controls (i.e., policies and procedures) to …
Auditors of public sector entities often have additional responsibilities with respect to internal control, for example, to report on compliance with an established code of practice or reporting on spending against budget. Auditors of public sector …
Information Technology in the Components of the Entity’s System of Internal Control Appendix 5 provides further guidance on understanding the entity’s use of IT in the components of the system of internal control. …
The overall objective and scope of an audit does not differ whether an entity operates in a mainly manual environment, a completely automated environment, or an environment involving some combination of manual and automated elements (i.e., manual and …
Understanding the Nature of the Components of the Entity’s System of Internal Control …
In evaluating the effectiveness of the design of controls and whether they have been implemented (see paragraphs A175 to A181) the auditor’s understanding of each of the components of the entity’s system of internal control provides a preliminary …