Back to Basics - Understanding Internal Controls

At the end of the course participants will be reminded of the requirements of ISA (UK) 315 with regards to understanding an entities system of internal controls.

ISA (UK) 315 - Identifying and Assessing the Risks of Material Misstatement

• Components of internal controls
• Control environment
• Risk Assessment process
• Information system and communication
• Process to monitor the system of internal controls
• Control activities
• Control deficiencies