Internal Control Deficiencies and Other Matters - Adding Value Through Required Auditor Communications will help the auditor with understanding how to improve required internal control communications to be more value-added from the perspective of the client. Professional and regulatory audit standards require communication of internal control matters noted in a financial statement audit.
DESIGNED FOR
Accountants who are responsible for drafting internal control related matters noted in an audit
BENEFITS
Upon completion of this course, you will be able to...
- Identify what, when, and to whom to communicate identified deficiencies in internal control during the financial statement audit
- Choose how to categorize the severity of identified deficiencies
- Determine how to draft written communications in a way that will increase the likelihood of corrective action
- Distinguish the importance of making value-added business advice to clients a priority
- Determine how to anticipate and prevent issues that could negatively impact clients
HIGHLIGHTS
The major topics covered in this course include:
- The required communication of internal control matters noted on an audit
- Evaluating the severity of identified deficiencies, including consideration of qualitative considerations
- Importance of placing a priority on being a value-added business advisor
- Anticipating and preventing internal control issues related to reliable financial reporting, operational efficiency or compliance
- Components of a well-written internal control comment
- Better writing tips and techniques
COURSE LEVEL
Intermediate
PREREQUISITES
Experience on basic audit engagements
ADVANCE PREPARATION
None