Internal Control

This topic has 1 reply, 2 voices, and was last updated 5 years ago by Kim Smith.

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September 3, 2020 at 6:48 pm #583299
adarsh1997
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Hello Kim,

Could you please explain what does a system based audit mean and it’s link with internal control?

Thanks
September 4, 2020 at 6:49 am #583327
Kim Smith
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“System-based” refers to emphasis on “accounting systems and internal controls” – i.e. looking to place reliance on the “system” through tests of controls. Also called “compliance-based” (as looking for compliance with control procedures).
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