Checklist for Evaluating Internal Controls-final

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Running head: CHECKLIST FOR EVALUATING INTERNAL CONTROLS 1 Checklist for Evaluating Internal Controls Pamela Kaminski ACC/544 May 2, 2011 Adriane Treasure
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CHECKLIST FOR EVALUATING INTERNAL CONTROLS 2 Checklist for Evaluating Internal Controls One job responsibility of an auditor is to focus on the internal controls of an organization and check the reliability, effectiveness, and efficiency and compliance of the company (Louwers, Ramsay, & Sinason, p. 149). Creating a checklist is effective so that the auditor can come to a conclusion regarding the company’s internal controls. The question is to find out if the controls effective or not. By completing the following checklist, an auditor can make a clear decision on how effective or non-effective a company’s controls are working. The auditor will be able to themselves familiar with the processes and procedures by interviewing the management team and employees. Next, the auditor will use the information he has been given and observe the processes. Finally, the auditor will test a small sample to arrive to the final decision. Interviewing the Staff The first section of the checklist will be interviews of the management team and employees. The auditor needs to get a better understanding of the business and procedures and avoid going blindly into any audit. Background knowledge is important to have; otherwise the controls in place make no sense. Getting two different perspectives will also give the auditor a
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This note was uploaded on 06/25/2011 for the course ACC 544 taught by Professor Adrianetreasure during the Spring '11 term at University of Phoenix.

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