Internal Control Fundamentals- Satisfying Audit Requirements (LIAA11/26)

Accounting and Auditing

Internal Control Fundamentals- Satisfying Audit Requirements (LIAA11/26)

Obtaining an understanding of the entity and its environment is part of assessing risk of material misstatement, in order to design the nature, timing and extent of further audit procedures necessary to obtain sufficient appropriate audit evidence to support the auditor’s report. A critical component of understanding the entity and its environment is to evaluate the design and implementation of internal control over financial reporting. Discussion Leader: Jennifer Louis