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Sourabh MittalSourabh Mittal asked 1 year ago

Make me understand Difference between both the questions

1. Auditors are required to obtain an understanding of internal control relevant to the audit when identifying and assessing its effectiveness and risk of material misstatement. During the course of audit of ABC Ltd., you observed that significant deficiency exists in the internal control system and you want to ascertain the same. Elucidate the various indicators of significant deficiencies which will help you in assessing the efficiency of internal control system of the organization.

2. CA.N has been appointed as an auditor of TRP Ltd. While conducting the audit he has identified some deficiencies in the Internal control. He needs to determine whether a deficiency or combination of deficiencies in internal control constitutes a “significant deficiency” and has to communicate them in writing to those charged with Governance and management on a timely basis. Guide CA.N with some examples of matters to be considered while determining `significant deficiency’ in internal control with reference to relevant SA.

Sourabh MittalSourabh Mittal replied 1 year ago

Now my query is resolved. I didn’t checked my older query in sequence.

Sourabh MittalSourabh Mittal replied 1 year ago

I believe this is not the right explanation, I request Ravi Sir to address this doubt for more clarification.

The question is related to standard on audit not celing limit.

1 Answers
RaviRavi Staff answered 1 year ago

Refer below link for answer

Team AG

Sourabh MittalSourabh Mittal replied 1 year ago

Pls ignore my comments. Thank u. Query solved

Sourabh MittalSourabh Mittal replied 1 year ago

I believe this is not the right explanation, I request Ravi Sir to address this doubt for more clarification.

The question is related to standard on audit not celing limit.

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