understanding of internal controls

Every audit firm has its approach for understanding a client’s internal control structure. Some firms use a standardized internal control questionnaire to evaluate controls that are in place whereas other firms do not rely on internal controls at all and plan their audits as if there are no controls in place or consider controls as not effective.

Evaluate each of these approaches to assess a client’s internal controls from an external auditor’s perception. Include in your evaluation:

Save your time - order a paper!

Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

Order Paper Now
  1. What effect, if any, does the size of the organization have on the decision?
  2. What are the auditing standard requirements for obtaining an understanding of internal controls?
  3. What are the differences, if any, in understanding internal controls for a public company versus a non-public company?

Prepare a report evaluating each approach. Also include your opinion on which approach is better and why.

Your report should meet the following criteria:

  • Be 3 pages in length, not including the title and references pages.
  • Demonstrate your comprehension of the course material.
  • Use professional business language.

Review the grading rubric to see how you will be graded for this assignment.

Looking for a similar assignment? Our writers will offer you original work free from plagiarism. We follow the assignment instructions to the letter and always deliver on time. Be assured of a quality paper that will raise your grade. Order now and Get a 15% Discount! Use Coupon Code "Newclient"