Auditing Bits in Bytes™ Session 7: Identifying, Evaluating and Communicating Internal Control Deficiencies


This 2-hour session focuses on how to properly fulfill the requirements for identifying, evaluating and communicating internal control deficiencies identified during the course of the financial statement audit.

Develop a game plan for successful audits, learn more about MACPA’s Auditing Bits in Bytes™.

Learning Objectives
  1. Describe how to properly satisfy the requirement to evaluate and communicate internal control matters noted during the course the financial statement audit
  2. Recognize considerations in properly categorizing internal control deficiencies as an inconsequential matter, significant deficiency, or material weakness
  3. Identify significant audit matters to communicate with those charged with governance
  4. Recognize ways for reporting entities to assume greater responsibility for internal control over financial reporting
Major Topics
  1. Identifying & Evaluating Internal Control Deficiencies – Emphasizing the importance of identifying both design and operating effectiveness deficiencies during the course of the audit, and how to properly categorize deficiencies as inconsequential, significant or material
  2. Considering the Impact of Internal Control Deficiencies - The impact on the auditor’s conclusions related to risk of material misstatement, sufficient appropriate audit evidence to support the financial statement audit opinion, and independence
  3. Communicating Internal Control Deficiencies to Those Charged with Governance – How to fulfill requirements in a way that emphasizes to the client the value and importance of giving proper dedication to understanding, consciously evaluating and concluding on an appropriate response to identified deficiencies
  4. Communicating Other Significant Audit Matters to Governance – What to communicate and when
  5. Extensive illustrative examples will be used to reinforce a practical understanding of the most critical principles and standards that support a high-quality, insightful, and profitable engagement
Business Learning Institute
Course Level
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Who Should Attend
Anyone who is new to auditing or desires a refresher in how to perform effective and efficient financial statement audits for non-issuers in accordance with professional and regulatory standards.
Jennifer Louis
Advanced Preparation
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Available 24/7
Total CPE Credits
Jennifer Louis


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Auditing Bits in Bytes™ Session 7: Identifying, Evaluating and Communicating Internal Control Deficiencies

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