DESCRIPTION
Control testing is often underutilized by audit teams. This module aims to remove the intimidation factor, helping auditors feel prepared to incorporate control testing into their audit plan efficiently and effectively. Participants will learn about key terms related to control testing and how to determine the nature, timing, and extent of testing controls for operating effectiveness. To apply the concepts covered, the module ends with a case study prompting participants to design and document a control testing plan.
* In Audit Level 3, this module is 1.5 credits
LEARNING OBJECTIVES
- Identify situations where control tests compared to substantive testing alone are most likely to be effective and efficient
- Design and complete controls tests, including determining appropriate sample sizes
