GAAS requires that auditors gain an understanding of a client’sinternal control system. How does...

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Accounting

GAAS requires that auditors gain an understanding of a client’sinternal control system. How does the auditor incorporate thisknowledge into the audit plan? Is an auditor required to testinternal controls on every audit? Explain.

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Internal control is the process designed implemented and maintained by those charged with governace and management and other personnel to provide reasonable assurance avbout the achievement of an entitys objectives with regard to relaibility of financial reporting effectiveness and efficiency of operations safeguarding of assets and compliance with applicable See Answer

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In: AccountingGAAS requires that auditors gain an understanding of a client’sinternal control system. How does the...GAAS requires that auditors gain an understanding of a client’sinternal control system. How does the auditor incorporate thisknowledge into the audit plan? Is an auditor required to testinternal controls on every audit? Explain.