Documenting internal controls
Familiarize yourself with commonly used documentation tools, such as narratives, flowcharts, internal control questionnaires and control matrixes. Walk through COSO’s internal control template used to document an assessment of a system on internal control.
Learning Objectives
- Identify controls in a process.
- Identify the different tools used to document internal controls.
- Recognize auditor considerations regarding documentation of internal controls.
- Recall how to document an assessment of a system of internal control.
Major Topics
- Documentation tools such as internal control questionnaires, narratives, flowcharts and control matrixes
- Auditor considerations for documenting internal controls in a risk assessment
- Documentation of an assessment of internal control
