Internal Controls and Their Evaluation

  • COSO Framework
  • Control Environment, Risk Assessment, and Control Activities
  • Information and Communication
  • Monitoring Controls
  • Testing Internal Controls
Understanding internal controls helps auditors assess whether a company has implemented sufficient measures to prevent fraud and errors. The COSO framework is commonly aicpa practice exam audit used to evaluate internal controls.

 Audit Evidence and Sampling

  • Types of Audit Evidence
  • Sufficiency and Appropriateness of Evidence
  • Statistical and Non-Statistical Sampling
  • Tests of Controls vs. Substantive Procedures
Audit evidence must be sufficient and appropriate to support the auditor’s opinion. Sampling techniques help auditors examine a portion of transactions to draw conclusions about the entire population.

CLICK HERE FOR MORE INFO: https://dumpsarena.com/aicpa-dumps/aud/