Wiley Practitioner's Guide to GAAS 2020

8AU-C 265 Communicating Internal Control Related Matters Identified in an Audit

Scope

Definitions of Terms

Objective of AU-C Section 265

Requirements

Determining Whether Deficiencies in Internal Control Have Been Identified

Indicators of Material Weakness

Communication of Internal Control Related Matters

Management Response

Interpretations

Communication of Significant Deficiencies and Material Weaknesses Prior to the Completion of the Compliance Audit for Participants in Office of Management and Budget Single-Audit Pilot Project

Communication of Significant Deficiencies and Material Weaknesses Prior to the Completion of the Compliance Audit for Auditors Who Are Not Participants in Office of Management and Budget Pilot Project

Appropriateness of Identifying No Significant Deficiencies or No Material Weaknesses in an Interim Communication

AU-C 265 Illustrations

SCOPE

The previous chapter, on AU-260, addressed the auditor’s responsibility to communicate with those charged with governance regarding the audit. AU-C 265 addresses the auditor’s responsibilities regarding communicating to management and those charged with governance identified deficiencies in internal control. (AU-C 265.01)

If the auditor is engaged to perform an audit of internal control over financial reporting that is integrated with the audit of financial statements, the auditor should apply the guidance in AR-C 940. (AU-C 265.04)

DEFINITIONS OF TERMS

Source: AU-C 265.07. For definitions related to this standard, ...