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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › interim or final audit?
Dear professor,
documentation of IC system and TOCs on it are carried out during interim audit or Final audit?
PLEASE do look at our notes – the last page of Chapter 8 there is a timeline.
System of IC must be documented initially at the planning stage – TOCs, if any, will be carried out before the reporting date to prove the operating effectiveness of controls. If not operating effectively, there can be no reliance on controls – so, for example, substantive procedures on balances as at the reporting date will need to be more extensive (than if controls could have been relied on).