Understanding Internal Control The Auditor Identifies Four Phases or Steps in the Control

question 10

Essay

Understanding internal control
The auditor identifies four phases or steps in the control risk assessment procedure.Phase I involves obtaining an understanding of the internal control structure.Identify at least four methods the auditor might use in gathering the information and briefly describe each one.

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Definitions:

AFL

The American Federation of Labor, a historic federation of labor unions in the United States.

Minorities

Groups within a population that are distinguished by racial, ethnic, religious, or cultural identity and often experience differential treatment or representation.

AFL and CIO

The American Federation of Labor and Congress of Industrial Organizations, a federation of labor unions in the United States.

Rival Unions

Labor unions that compete for the representation rights and membership of workers within the same workplace or industry.