DESCRIPTION
Internal controls documentation should not exist in isolation, and this module invites participants to explore how work performed in IC-1 flows to other parts of the audit. Through small group activities and engaging discussion, participants will explore the “why” behind the requirements, connecting the work performed in walkthroughs to risk assessment and the design of further audit procedures.
LEARNING OBJECTIVES
- Explain the flow of internal controls-related information in DAS, including the impact on risk assessment and risk response
- List the requirements for understanding and evaluating process-level controls, including automated controls, within DAS
- Apply a structured approach in DAS to document an effective understanding of the design and implementation of process-level control
