The Committee of Sponsoring Organizations of the Treadway Commission's (COSO's) Internal Control-Integrated Framework (framework) speaks of the auditor's responsibility from inception of the transaction through to the financial statements. But what happens when the company's transactions leave the system? Should auditors be concerned about transactions once outside the system? The answer, of course, is, "Absolutely they should be concerned."
The goal of this module is to provide what you need to know about your responsibilities when your client engages a service organization. Further, auditors have often found it necessary, in complex or unfamiliar areas, to engage specialists to obtain the requisite knowledge or experience necessary to perform certain engagements. This module will explore how and when to refer to both areas and the related performance and documentation requirements in each.
Delivery Method: Self Study
CPE Credit: Auditing
Program Level: Intermediate