Internal Controls over Financial Reporting: Testing with Precision

Posted by Guthrie Chenon Wed, Jun 25, 2014 @ 09:52 AM

With a renewed emphasis in testing with precision on internal controls over financial reporting, it may help to jump the gun and review some of your most complex controls that would fall within scope of an external auditors review. The following definition of ‘testing with precision’ is defined in the following statement via Crowe Horwath LLP:

Read More

Tags: Internal Controls, examples, audit, external audit, precision, misstatement, testing, risk management, reconciliation, material