The five step process in the audit of ICFR includes

The five step process in the audit of ICFR includes 



A. Form an opinion on the safeguarding of the entity's assets.

B. Identify controls to test using a top-down, risk-based approach.

C. Form an opinion on the fairness of the presentation of the financial statements.

D. Form an opinion on the effectiveness of internal controls in meeting operational goals.


Answer: Identify controls to test using a top-down, risk-based approach


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1 comments:

Great blog. The five steps you mentioned about ICFR audit is awesome. ICFR audit is very important and your blog tells all the staps in detail. Thanks for sharing this blog.