AU-C Section 315.19 requires an external financial auditor to obtain an understanding of the information systems of an auditee, including how the information system captures events and conditions, other than transactions, that are significant to the financial statements. This course is designed to help financial auditors gain comfort with general and application IT control concepts. Participants will learn what areas are the most important to emphasize in specifically considering internal controls over financial reporting (ICOFR), as well as what red flags might mean and if you want to bring in an IT expert.
Course ID: AUDITIT
Conducting and Documenting IT Assessments in the Course of a Financial Audit
Learning Objectives
- Recognize the red flags during a financial audit
- Decide as to whether the contols in place warrant the help of an IT expert
- Recognize how information systems capture events and conditions
- Assess what areas are most important when considering internal controls vs. financial reporting
Major Topics
- Events and conditions captured by information systems
- General and application IT concepts
- Areas of importance when considering internal controls vs. financial reporting
Who Should Attend
All levels of staff
Fields of Study
AuditingPrerequisites
None