Are you an auditor engaged to audit an entity that is less complex? If so, you may wonder why you spend time on the audit evaluating internal control. This may seem like an exercise that is much more ...

Internal controls represent safeguards that protect a company's business operations and financial information. Business owners are typically responsible for developing and implementing internal ...

MANAGEMENT IS RESPONSIBLE FOR EVALUATING and reporting on a company’s controls. The external auditors are responsible for auditing management’s assertion and independently coming to their own ...

Auditing is a means of evaluating the effectiveness of a company's internal controls. Maintaining an effective system of internal controls is vital for achieving a company's business objectives, ...

Modeling of the internal control system provides an element of structure and objectivity to the design and evaluation of the system. A model for the design of an internal control system is proposed ...