Every audit firm has its approach for understanding a client’s internal control structure.
UNDERSTANDING OF INTERNAL CONTROLS – APPROACHES
Every audit firm has its approach for understanding a client’s internal control structure. Some firms use a standardized internal control questionnaire to evaluate controls that are in place whereas other firms do not rely on internal controls at all and plan their audits as if there are no controls in place or consider controls as not effective.
Evaluate each of these approaches to assess a client’s internal controls from an external auditor’s perception. Include in your evaluation:
- What effect, if any, does the size of the organization have on the decision?
- What are the auditing standard requirements for obtaining an understanding of internal controls?
- What are the differences, if any, in understanding internal controls for a public company versus a non-public company?
Prepare a report evaluating each approach. Also include your opinion on which approach is better and why.
Requirements:
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.