Читать книгу Wiley Practitioner's Guide to GAAS 2020 - Joanne M. Flood - Страница 203

According to the AICPA, 40% of identified issues related to failure to gain an understanding of internal control. Auditors must understand internal control in order to identify related risks and design proper responses. Auditors are reminded to:

 Consider what could go wrong in financial statement preparation,

 Identify the controls intended to mitigate identified risks, and

 Evaluate the likelihood those controls can prevent, detect, and correct material misstatements.

Auditors are cautioned that it is incorrect to think that AU-C 315.14 does not apply to an engagement where the client has no controls. Similarly, auditors are reminded that even when they do not plan to rely on internal control, defaulting to setting control risk at the maximum level is not permitted.