AU-C 940 guidance applies only when:
- An auditor is engaged to perform an audit of ICFR, and
- That audit is integrated with the financial statements audit (integrated audit).
- (AU-C 940.01)
DEFINITIONS OF TERMS
Source: AU-C 940.05. For definitions of the terms related to this section, see Appendix A, “Definitions of Terms”: Audit of ICFR, Control objective, Criteria, Detective control, Internal control over financial reporting (ICFR), Management’s assessment about ICFR, Preventive control.
OBJECTIVES OF AU-C 940
AU-C Section 940.04 states that the objectives of the auditor in an audit of ICFR are to:
- obtain reasonable assurance about ...