What Does Auditing Standard No

question 13

Essay

What does Auditing Standard No. 5, an Audit of Internal Control Over Financial Reporting That Is Integrated with an Audit of Financial Statements, require the auditor to understand about IT?

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Definitions:

Actin

The protein of which microfilaments consist. Actin, together with the protein myosin, is responsible for muscle contraction.

Rough Endoplasmic Reticulum

A region of the endoplasmic reticulum associated with ribosomes, involved in the synthesis and processing of proteins.

Ribosomes

Cellular structures where protein synthesis occurs, reading mRNA and assembling amino acids into proteins according to the genetic instructions.

Microfilaments

Microfilaments are fine, thread-like protein fibers, composed largely of actin, that are a part of the cytoskeleton in eukaryotic cells, involved in cell movement and shape.