404LessonsLearned-PerformingIntegAudit

404LessonsLearned-PerformingIntegAudit - CAQ Lessons...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
CAQ Lessons Learned – Performing an Audit of Internal Control In an Integrated Audit February 2009
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Table of Contents 601 13 th Street NW, Suite 800N, Washington, DC 20005, (202) 609-8120 www.thecaq.org Affiliated with the American Institute of CPAs ii CAQ LESSONS LEARNED – PERFORMING AN AUDIT OF INTERNAL CONTROL IN AN INTEGRATED AUDIT--------------------------------------------------------------------------------------------------1 NOTICE TO READERS --------------------------------------------------------------------------------------------------------1 INTRODUCTION AND PURPOSE----------------------------------------------------------------------------------------------2 EXECUTIVE SUMMARY ------------------------------------------------------------------------------------------------------3 ORGANIZATION OF THE DOCUMENT ---------------------------------------------------------------------------------------9 SECTION 1: UNDERSTAND AND USE MANAGEMENT’S ASSESSMENT AND DOCUMENTATION AS A STARTING POINT-------------------------------------------------------------------------- 10 LESSON LEARNED #1 ------------------------------------------------------------------------------------------------------- 10 LESSON LEARNED #2 ------------------------------------------------------------------------------------------------------- 12 LESSON LEARNED #3 ------------------------------------------------------------------------------------------------------- 14 LESSON LEARNED #4 ------------------------------------------------------------------------------------------------------- 16 LESSON LEARNED #5 ------------------------------------------------------------------------------------------------------- 17 SECTION 2: INTEGRATE THE AUDITS -------------------------------------------------------------------------------- 19 LESSON LEARNED #6 ------------------------------------------------------------------------------------------------------- 19 LESSON LEARNED #7 ------------------------------------------------------------------------------------------------------- 21 LESSON LEARNED #8 ------------------------------------------------------------------------------------------------------- 22 LESSON LEARNED #9 ------------------------------------------------------------------------------------------------------- 24 LESSON LEARNED #10 ------------------------------------------------------------------------------------------------------ 26 SECTION 3: ESTABLISH THE RIGHT TEAM------------------------------------------------------------------------- 27 LESSON LEARNED #11 ------------------------------------------------------------------------------------------------------ 27 LESSON LEARNED #12 ------------------------------------------------------------------------------------------------------ 28 SECTION 4: IDENTIFY MATERIAL RISKS TO RELIABLE FINANCIAL REPORTING ------------------ 29 LESSON LEARNED #13 ------------------------------------------------------------------------------------------------------ 29
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/08/2011 for the course FIN 101 taught by Professor Minhngo during the Spring '11 term at Universidade do Minho.

Page1 / 46

404LessonsLearned-PerformingIntegAudit - CAQ Lessons...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online