Archive for the ‘Process Control’ Category

Choosing significant accounts after AS5

August 17, 2007

After the Auditing Standard No. 5 with ‘risk based, top down approach’ replaced AS2, companies will change the way of selecting significant accounts from previously ‘whether it exceeds materiality threshold regardless of risks’, to qualitative factors. This ‘qualatative first, quantative second’ approach will allow companies to focus resources on key controls and therefore to reduce the costs.

An article from Compliance week suggested a new way of choosing significant accounts. (more…)

Advertisements