a cpa is preparing a presentation for a public accounting firm's workshop on internal control. the presentation includes discussion of the five components of internal control described in the aicpa's auditing standards. which section of the generally accepted auditing standards describes the first of the five components of internal control?

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21-10-2022
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a cpa is preparing a presentation for a public accounting firm's workshop on internal control. the presentation includes discussion of the five components of internal control described in the aicpa's auditing standards. which section of the generally accepted auditing standards describes the first of the five components of internal control?

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sapanpandit sapanpandit · Answer 1 · 2022-10-24T11:38:20-04:00

If a cpa is a public accounting firm's internal control workshop, then AU-C 315.15 of the generally accepted auditing standards (GAAS) explains the first of the five components of internal control.

The Board is required under the Sarbanes-Oxley Act of 2002, as amended, to define by rule the auditing and related firm's professional practice standards that registered public accounting firms must adhere to when writing auditing standards reports for public companies, other issuers, and broker-dealers.

For financial statement audits for fiscal years ending on or after December 15, 2020, the following the generally accepted auditing standards (GAAS) explains the first of the five components of internal control. is a list of firm's PCAOB auditing standards. The presentation covers a study of the five internal control components listed in the auditing standards of the aicpa.

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