The 2014 survey of the International Forum of Independent Audit Regulators found that internal control testing is

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The 2014 survey of the International Forum of Independent Audit Regulators found that internal control testing is consistently an area where audit work is deficient. Canada is no exception. Access the CPAB website at www.cpab-ccrc.ca and locate the 2013 Public Report (follow the link "news & publications" and then select "reports"). Review "Section Three-2013 Inspections" of the report and locate commentary on "Audit work on internal controls."
REQUIRED
Review the commentary and provide support for your answer to the following questions:
a. Why must control testing cover the entire period in order for the auditor to reach the conclusion that a control is effective?
b. Why are sign-off signature and inquiry considered to be insufficient evidence to demonstrate that controls are effective?
c. What would constitute stronger evidence than sign-off signature and inquiry? Explain why.
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Auditing The Art and Science of Assurance Engagements

ISBN: 978-0133405507

13th Canadian edition

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones

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