Page 12 - PowerPoint Presentation

GENERAL PRINCILES OF AUDITING

Internal Control In Smaller Entities

Control Environment

• Entirely depends on tone at the top (everyone is close to

the top ad they do what they see)

• Pressure to deliver (no review of work, employees

assigned to tasks they have no experience in etc.)

• No separate departments (human resources, creditors,

debtors, cashbook etc.)

Risk Assessment Process

• Unlikely to be formal risk committees/ officers or risk

assessment processes.

• No time and resources (everyone is busy working)

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CharterQuest