Lesson 19 of 23

Auditing Issues in Small Businesses

In this lecture, we will discuss the internal control systems in small businesses. Small businesses generally have fewer employees and less resources to dedicate to intrenal controls.

The video discusses the auditing issues associated with small businesses. it also covers review and compilation engagements.

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Testing Internal Controls

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Auditing Planning Approach

8

Auditing: Management Assertions

Auditing: Assessing Inherent Risk

12

Auditing: The Concept of Materiality

13

Auditing: Client Risk Profile

14

How Auditors Document Their Work?

15

Internal Controls in a Company

16

COSO - Integrated Internal Control Framework

17

Assessing Control Risk

18

Testing Internal Controls

19

Auditing Issues in Small Businesses

20

Auditing Planning Approach

21

Audit Programs

22

Auditing the Sales Cycle

23

Substantive Audit Procedures