Auditing Question- due 8/12/15 @ 2:00 EST

Complete the following items.

1. Write brief summary of the ISA 265: “Communicating deficiencies in internal control to those charged with governance and management.” Your answer should include discussion of the following:

• • Classification and definitions of control deficiencies.
  • Auditors’ responsibilities in detecting and reporting internal control deficiencies
  • Key factors used to determine internal control significant deficiencies
  • Key elements of auditors’ written communication of significant deficiencies

1. Write brief summary of the ISA 240: “The auditor’s responsibilities relating to fraud in an audit of financial statements.” Your answer should include discussion of the following:

• • Characteristics of fraud
  • Management’s responsibilities for preventing and detecting fraud
  • Auditor’s responsibilities for detecting fraud
  • Audit procedures required for auditing fraud in the financial statements

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