02 — Capability · BC-160.40
Control Assurance
Test the key controls over financial reporting and critical operations on a cycle, and coordinate with external auditors so the same control is not tested three times by three people.
- Internal Controls Testing
- ICFR Testing
- External Audit Liaison
In scope
- Key control identification and testing cycles
- Control deficiency evaluation
- External auditor reliance and coordination
Out of scope
- Control design and ownership (see BC-130)
- Preparing the financial statements under audit (see BC-210)
Realized by · 1
Used in · 1
Build it · 0
- Nothing in the library points here yet.
Decomposes into · 3
- BC-160.40.10Key Control TestingTest the design and operating effectiveness of the controls that matter most, on a schedule that gives year-round confidence.
- BC-160.40.20Control Deficiency EvaluationRate failed controls for severity and aggregate them to judge whether the control environment as a whole holds.
- BC-160.40.30External Auditor CoordinationShare plans and results with the external auditor so each can rely on the other's work where standards allow.