Evaluating Control Deficiencies and Communicating with Management

What happens if your engagement team discovers some sort of “issue” or “discrepancy” when testing the operating effectiveness of identified controls? There are many factors to consider, such as the severity of the finding, which will require professional judgment. This evaluating control deficiencies CPE eLearning course shows you how to differentiate between a control deviation and a control deficiency. Additionally, the course will discuss the various types of deficiencies, and how to evaluate each type of control deficiency. Lastly, an auditor’s requirements for communicating deficiencies to management will also be covered.

This course considers the following U.S. GAAS and PCAOB guidance: AU-C 265 and AS 1305. Therefore, this course is a must for any auditor applying U.S. auditing standards to their engagements.

Topics covered in this evaluating control deficiencies CPE course include:

• Introduction to control deficiencies
• Control deviations vs control deficiencies
• Communicating deficiencies with those charged with governance

If you are an auditor who audits financial statements in accordance with U.S. generally accepted auditing standards (U.S. GAAS), Public Company Accounting Oversight Board auditing standards (PCAOB), or International Standards on Auditing (ISAs) this evaluating control deficiencies CPE course, part of the Internal Controls: The Essentials course collection, is an absolute must. Want to see what courses are included in the collection? Scroll down for a link to the collection.

Interested in group discounts for your firm or team? Contact us to learn more.

 By the end of this course, you should be able to: 

• Recall the various types of control deficiencies and the related requirements to evaluate each type
• Recognize an auditor’s responsibilities for communicating control deficiencies to management