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Statements on Auditing Standards
Auditing -- Standards -- United States; Audited financial statements -- Standards -- United States; Corporations -- United States -- Finance -- Automation; Information technology
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Effect Of Information Technology On The Auditor's Consideration Of Internal Control In A Financial Statement Audit; Statement On Auditing Standards, 094, American Institute Of Certified Public Accountants. Auditing Standards Executive Committee
Effect Of Information Technology On The Auditor's Consideration Of Internal Control In A Financial Statement Audit; Statement On Auditing Standards, 094, American Institute Of Certified Public Accountants. Auditing Standards Executive Committee
Statements on Auditing Standards
This Statement provides guidance on the independent auditors consideration of an entity's internal control in an audit of financial statements in accordance with generally accepted auditing standards. It defines internal control, describes the objectives and components of internal control, and explains how an auditor should consider internal control in planning and performing an audit. In particular, this Statement provides guidance about implementing the second standard of field work: "A sufficient understanding of internal control is to be obtained to plan the audit and to determine the nature, timing, and extent of tests to be performed."