control system at the firm level and the individual engagement level, the SEC encourages all stakeholders to attain a better understanding and awareness of their roles within the ecosystem, from the
obtain an understanding of controls relevant to the audit, including evaluating the design of those controls and considering whether the controls are effective in preventing or detecting and correcting
involved in preparing financial reports understand their roles and responsibilities relevant to the quality of the financial reports. Due to the in-depth understanding of both the nature of their business
Controls (OS, Database, Network) Application (e.g. SAP) Configuration & Security In ve nt or y Identify ITGC Risks 14 PCAOB Literature The auditor should obtain an understanding of specific risks to a
committees, internal auditors, and regulatory bodies in accounting professions, and better understanding of their roles and responsibilities. Various tools and mechanism have been introduced to facilitate
, the SEC deems it necessary for the audit firms to be self-reliant, which always starts with an adequate supply of competent audit staff who possess thorough understanding of both accounting and auditing
development of the financial reporting ecosystem; it is our belief that for the financial reporting to be reliable, the stakeholders in the ecosystem should be aware, and have a good understanding, of their
core objective of building a robust foundation for the financial reporting ecosystem, with a special focus on extending the efforts in promoting stakeholders’ better understanding of their roles and the
understanding of their roles and building their readiness for discharging duties more efficiently and effectively. Additionally, the SEC reviewed the accuracy of financial reports of listed companies, supervised
together information that is not normally disclosed in the financial statements. The ICGN intends to promote better understanding of integrated business reporting by setting out disclosure criteria that will