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Posted: 30 Jun 2010 at 16:14 | IP Logged Quote venchlu

Which of the following is not required documentation in an audit in accordance with generally accepted auditing standards?

A.    A narrative description of the internal control system.

B.    The auditor's assessment of the risk of material misstatement.

C.    An engagement letter.

D.    A written audit program describing audit procedures to be performed.

 The correct answer is A...

So we don't have to document internal control?? Where can I find related text in Becker book? Thanks

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Posted: 30 Jun 2010 at 17:36 | IP Logged Quote Dracoy

A) Narrative description of internal control system is TOO

Remember, it could also be a flow chart or any other form
that helps you understand the internal control system. Plus
this documentation might already be available from the
company itself.
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