CCH Learning Center

Auditing Internal Control: The New PCAOB Standard - The Conceptual Issues

As of this writing, the PCAOB has issued several rulings and three auditing standards. This course covers Auditing Standard No. 2 , the pronouncement entitled "An Audit of Internal Control Over Financial Reporting Conducted in Conjunction With an Audit of Financial Statements." This course is divided into two parts. This course covers the conceptual issues the PCAOB considered and enlarged upon in Auditing Standard No. 2. Topics covered include:

• Importance and Applicability of the Standard
• The Auditor's Objective in Auditing a Company's Internal Control System
• Definitions Applicable to Internal Control Over Financial Reporting
• Framework Used by Management in Conducting its Assessment of Internal Control
• Inherent Limitations in Internal Control
• Management's Responsibilities