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Exploring Internal Control Deficiencies: Identifying, Evaluating, and Communicating with Management

Author/Moderator: Lynda M. Dennis, Ph.D., CPA, CGFO
Publisher: AICPA
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Previously Titled: Assessment and Reporting Internal Control Deficiencies Identified in an Audit

It is important for auditors to understand the practical issues related to applying the provisions of AU-C 265, Communicating Internal Control Related Matters Identified in an Audit. Examine those provisions and learn to apply the concepts of the SAS, including identifying, evaluating, and communicating identified deficiencies in internal control.

Objectives:
  • Deficiencies in Internal Control Reportable Under AU-C 265
  • Use of COSO Framework in Assessing Deficiencies in Internal Control
  • Assessment of Compensating Controls
  • Pinpoint the Distinguishing Features of Deficiencies

Learning Objectives:
This course explains how to evaluate the severity of deficiencies in internal control that are identified in the audit. Learn how to communicate deficiencies to management and those charged with governance. Gain a better understanding of how compensating controls can mitigate a deficiency in internal control, and explore how and when to report deficiencies in internal control.

Prerequisite: Experience with accounting processes and internal control. Familiarity with COSO Internal Control framework is helpful.

Advanced Preparation: None

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Videocourse Details

NASBA Field of Study: Auditing
Level: Intermediate
Recommended CPE Credit: 8
Yellow Book Hours: 8
Exploring Internal Control Deficiencies: Identifying, Evaluating, and Communicating with Management
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Product# 733296
Availability: In Stock
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