[TranCPA2012]

Hey guys,

I was wondering if you all could clear this up for me. What is the responsibility of the auditor with regards to operating effectiveness of internal control? I know that for a public audit, it is an integrated approach so it includes a report on internal control, but do they have to provide an opinion or is it simply an evaluation of the effectiveness? Thanks in advance.

FAR 4/30/12 - 86
AUD 5/30/12 - 94
REG 7/2/12 - 92
BEC 7/31/12 - ?

[IndianaCPAGuy]

A public company auditor is responsible for providing an opinion on the effectiveness of internal controls.

Licensed CPA in Indiana

[TranCPA2012]

Thanks! Exam in 3 hours! Hope the Oklahoma tornado doesn't knock out the power during my test.

FAR 4/30/12 - 86
AUD 5/30/12 - 94
REG 7/2/12 - 92
BEC 7/31/12 - ?

[Author]

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