Aid for identifying and testing controls at smaller entities
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Aid for identifying and testing controls at smaller entities

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Overview

Under AU-C 315.14, auditors are required to evaluate the design of their client’s controls and determine whether they have been implemented. However, data gathered by the AICPA Peer Review Program indicates that many auditors are not meeting this requirement. In fact, noncompliance with paragraph .14 is nearly twice as common as non-compliance with any other requirement of AU-C 315.

One cause of this non-conformity is the misconception that smaller audit clients have no controls, and therefore paragraph .14 does

Download the Aid for Identifying and Testing Controls at Smaller Entities

File name: eaq-examples-of-controls-in-small-entities.pdf

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