tailieunhanh - Lecture Principles of auditing and other assurance services (15/e): Chapter 20 - Whittington, Pany

Lecture Principles of auditing and other assurance services (15/e) - Chapter 20: Additional assurance services: Other information. This chapter described assurance services, focusing on those that are governed by Statements on Standards for Attestation Engagements. | Additional Assurance Services: Other Information Chapter 20 1 Relationship Between Assurance and Attestation 20- Subject Matter Historical or prospective performance or condition Physical characteristics Historical events Analyses Systems or processes Behavior 20- Criteria Suitable Objective Permit reasonable consistent measurements Complete Relevant Available Publicly available Presented in a summary, the assertion or the practitioners’ report 20- Types of Attestation Engagements Examinations Reviews Agreed-upon procedures 20- 2 Examination Report 20- Review Report on Subject Matter 20- Management Report on Internal Control Winstad Company maintains internal control over financial reporting, which is designed to provide reasonable assurance to the Company's management and board of directors regarding the preparation of reliable published financial statements. Internal control contains self-monitoring mechanisms, and actions are taken to correct deficiencies . | Additional Assurance Services: Other Information Chapter 20 1 Relationship Between Assurance and Attestation 20- Subject Matter Historical or prospective performance or condition Physical characteristics Historical events Analyses Systems or processes Behavior 20- Criteria Suitable Objective Permit reasonable consistent measurements Complete Relevant Available Publicly available Presented in a summary, the assertion or the practitioners’ report 20- Types of Attestation Engagements Examinations Reviews Agreed-upon procedures 20- 2 Examination Report 20- Review Report on Subject Matter 20- Management Report on Internal Control Winstad Company maintains internal control over financial reporting, which is designed to provide reasonable assurance to the Company's management and board of directors regarding the preparation of reliable published financial statements. Internal control contains self-monitoring mechanisms, and actions are taken to correct deficiencies as they are identified. Even with effective internal control, no matter how well designed, has inherent limitations---including the possibility of the circumvention or overriding of controls---and therefore can provide only reasonable assurance with respect to financial statement preparation. Further, because of changes in conditions, internal control effectiveness may vary over time. The Company assessed its internal control as of December 31, 19X5, in relation to criteria for effective internal control over financial reporting described in Internal Control---Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this assessment, the Company believes that, as of December 31, 19X5, its internal control over financial reporting met those criteria. 20- 7 7 Accountants’ Report on Internal Control--First Paragraph We have examined management's assertion that Winstad Company has maintained an effective internal control over .