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Auditing Standard ASA 315 Identifying and Assessing the Risks of Material Misstatement
Consideration of the Internal Audit FuncConsideration of the Internal Audit Function in Understanding the Control Environment
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Consideration of the Internal Audit Function in Understanding the Control Environment
- In understanding the control environment, the auditor may consider how management has responded to the findings and recommendations of the internal audit function regarding identified control deficiencies relevant to the preparation of the financial report, including whether and how such responses have been implemented, and whether they have been subsequently evaluated by the internal audit function.