Page 12 - PowerPoint Presentation
P. 12
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
