Page 15 - PowerPoint Presentation
P. 15
GENERAL PRINCILES OF AUDITING
The External Auditor’s Interest in Internal Controls
• Primary purpose is to issue an opinion on the AFS, but…
• AFS are a product of the entity’s info system which includes
the accounting system.
• The better the system of internal control, the more likely
AFS are to fairly present.
• The 5 components of internal control are therefore very
important to the External Auditor
15
CharterQuest
