DESCRIPTION
This module focuses on the evaluation of audit evidence near the end of the engagement, where auditors must often exercise critical thinking and professional judgment – specifically, uncorrected misstatements and deficiencies in internal control. Through small-group exercises and quiz games, participants will gain an understanding of the carry-forward impact of prior-year passed adjustments, practice categorizing the severity of internal control deficiencies, and review the requirements for communication with those charged with governance.
LEARNING OBJECTIVES
- Contrast available approaches for addressing uncorrected misstatements
- Evaluate and classify deficiencies in internal control
- Identify required communications with the client

