CA Raj has just concluded the audit of a company and noted certain findings/exceptions in the IT environment and controls, which need to be assessed…
CA Intermediate · Auditing and Ethics · PYQS · September 2025
CA Raj has just concluded the audit of a company and noted certain findings/exceptions in the IT environment and controls, which need to be assessed and reported accordingly. Specify, what points shall the auditor consider in assessing and reporting of audit findings in IT Environment and IT Controls.
Suggested Answer and Working Notes:
Points the auditor shall consider in assessing and reporting of audit findings in IT Environment and IT Controls are as follows: (i) Are there any weaknesses in IT controls? (ii) What is the impact of these weaknesses on overall audit? (iii) Report deficiencies to management – Internal controls memo or Management letter. (iv) Communicate in writing any significant deficiencies to those Charged with governance.
Topics: Ethics and Terms of Audit Engagements, Risk Assessment and Internal Control
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