Transcription of Internal Financial Control over Financial Reporting …
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Internal Financial Control over Financial Reporting ICAI SeminarSachin Paranjape, November 20152 Begin with an End in 2015 Deloitte ToucheTohmatsu India LLP3 Directors report / Auditors reportAudit Committee presentationDiscussion with ManagementDrawing conclusionAggregation of findingsFieldworkPlanning & scopingOverview, applicability, components of IFC Risk assessment Sources of misstatement Selecting controls to test ELCs, understanding IT, automated controls Financial Reporting process, Flowcharting & documentationEvaluating deficiencies Forming an opinion and communication Typical milestones in the IFC journey and Topics addressed by this seminar 2015 Deloitte ToucheTohmatsu India LLPOf all relevant audits inspected (as detailed in separate tables below), percentage in which Inspections staff identified, in the specified area, auditing deficiencies that resulted in insufficiently supported audit options.
Internal Financial Control over Financial Reporting ICAI Seminar Sachin Paranjape, November 2015
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