Recent auditing and accounting standards have updated both management and auditor responsibilities for considering internal controls. This session will address key internal controls that you should consider at the plan sponsor and with service providers and when to seek reliance on SOC 1 reports.
Identify the risks associated with key internal controls related to key audit cycles and link those risks to audit procedures
Differentiate between effectively perform Walkthroughs with good documentation and NOT.
Analyze how to perform effective inquiries with non-accounting persons and documentation.