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Planning an Audit: Internal Controls and Audit Objectives

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Why are internal controls and audit objectives important in audit

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Solution Summary

Understanding internal controls is key to designing an effective audit. Once know, the objectives can be derived from management's assertions.

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Proper planning is critical to the effective execution and discovery of information of the audit process. Incorporating a review of internal controls and identifying the objectives of the audit itself are key to conducting a fair and thorough audit.

William F. Messier Jr. states in Auditing and Assurance Services, "internal control has a direct effect on the scope of the audit" (2003, p 211). Messier believes an auditor's ...

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