This publication was designed to give you an increased understanding of effective internal control in small businesses and how to efficiently document and test the internal control in small business audit engagements.
It will help you in advising your small and middle-market clients on how to sensibly apply the concepts of the COSO Internal Control-Integrated Framework, to achieve their business objectives in a cost-effective manner.
This publication includes:
Part I – written with the business owner’s perspective in mind. Provides a detailed summary of each of the components, principles and points of focus of the COSO framework. Includes real-life examples.
Part II – provides guidance on how the COSO Internal Control-Integrated Framework aligns with the clarified generally accepted auditing standards.
Appendix – shows how the COSO framework is applied by using real-life examples of a small and a middle-market business. Includes details that illustrate how businesses of any size can have an effective system of internal control.
Powerpoint presentation – for firms to use in staff training, marketing, and client education.