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InterviewSolution
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What Knowledge About The “information And Communication Systems Support” Component Should An Auditor Obtain? |
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Answer» The auditor should obtain sufficient knowledge about the information system relevant to financial reporting. The information system generally consists of the METHODS and records established to record, process, summarize, and report entity TRANSACTIONS and to maintain accountability of related assets, liabilities, and equity. Communication INVOLVES PROVIDING an understanding of individual roles and responsibilities pertaining to internal CONTROL over financial reporting. The auditor should obtain sufficient knowledge about the information system relevant to financial reporting. The information system generally consists of the methods and records established to record, process, summarize, and report entity transactions and to maintain accountability of related assets, liabilities, and equity. Communication involves providing an understanding of individual roles and responsibilities pertaining to internal control over financial reporting. |
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