What are the auditor\'s documentation requirements for an audit of ICFR?
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total answers (1)
total answers (1)
Accounting
- The documentation must include the auditors understanding and evaluation of the design of each of the components of the entity's ICFR
- Document the process used to determine the points at which misstatements could occur within significant accounts and disclosures
- The auditor must document the extent to which he or she relied upon work performed by others.
- The auditor must describe the evaluation of any deficiencies discovered, as well as any other findings, that could result in a modification to the auditor's report
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