Reference no: EM132752523

Problem 1: It is mandatory for auditors to obtain an understanding of a client's internal controls for every audit engagement. Therefore, even if an auditor decides not to rely on internal controls in the audit, the auditor is required to obtain an understanding of internal control systems.

In relation to the "three phases of audit" in which phase does an auditor commonly obtain her/his understanding of a client's internal control systems?

Problem 2: What is the impact of understanding of a client's internal control systems on an audit strategy overall?

Problem 3: Discuss Five common audit procedures that an auditor can apply to understand of a client's internal control systems.