What are the requirements for the auditor to assess an entity's control environ- ment? Assume the auditor
Question:
What are the requirements for the auditor to assess an entity's control environ- ment? Assume the auditor finds significant weaknesses in the entity's control en- vironment. Answer the following questions.
What must be communicated to management and the audit committee?
What must be communicated in an external report on internal control?
How do the findings affect the remainder of the financial statement audit?
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Step by Step Answer:
Assessing an entitys control environment involves evaluating the overall tone attitude and actions of management and those charged with governance reg...View the full answer
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Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
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Related Book For 
Auditing Concepts For A Changing Environment
ISBN: 9781284249286
5th Edition
Authors: Larry E. Rittenberg, Bradley J. Schwieger
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