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Unformatted text preview: • Relationship of materiality to evidence collection • Allocation of materiality to balance sheet • Define the risk model and how they relate to each other Chapter 10 • Define the COSO objectives and the 5 components of internal control • Separation of duties • SOX requirements of management on the issuance of a statement on the internal controls • Reporting of significant deficiencies and material weaknesses by the auditor • Assessment of control risk for private companies Chapter 11 • Definition of fraud, misappropriation of assets and fraudulent financial reporting • The auditors responsibilities for reporting fraud • The fraud triangle components • SAS 99 requirements for brainstorming and documenting fraud risks • Who commits the frauds...
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- Spring '12
- acceptable audit risk, define materiality, fraud triangle components, Analytical procedure requirements