Documenting internal controls
Familiarize yourself with commonly used documentation tools, such as narratives, flowcharts, internal control questionnaires and control matrixes. Walk through COSO’s internal control template used to document an assessment of a system on internal control.
• Identify controls in a process.
• Identify the different tools used to document internal controls.
• Recognize auditor considerations regarding documentation of internal controls.
• Recall how to document an assessment of a system of internal control.
Documentation tools such as internal control questionnaires, narratives, flowcharts and control matrixes
• Auditor considerations for documenting internal controls in a risk assessment
• Documentation of an assessment of internal control
Financial statement auditors, internal auditors and entity management involved in financial statement audits