[Anonymous]

I have been searching a while for this answer and I can’t seem to find clarification on it. Here is what I know from the Becker review course:

Interim review (non-issuer/private company) – AICPA, do not need to obtain an understanding about internal controls

Review year-end (non-issuer/private company) – SSARS, also do not need to obtain understanding about internal controls

Interim Review (issuer/public company) – PCAOB, do I need to obtain an understanding of internal control?

[Recked]

I see no reference to PCAOB internal controls under review in my books. Roger & Gleim

Memento Mori - Kingston NY CPA & EA (SUNY Albany 2002)

FAR-93 11/9/17 (10wks, 250 hrs, Roger 1800+ MCQs, Gleim TB 600+MCQs, SIMs)
AUD-88 12/7/17 (3 wks, 85 hrs, Roger 1000 MCQs no SIMs hail mary)
REG-96 1/18/18 (6 wks, 110 hrs, 1400 MCQs, no SIMs)
BEC-91 2/16/18 (4wks, 90 hrs, 1240 MCQs)

[tncpa2018]

Read PCAOB AS 4105.10 at https://pcaobus.org/Standards/Auditing/Pages/AS4105.aspx

AS 4105: Reviews of Interim Financial Information

.10 The Accountant's Knowledge of the Entity's Business and Its Internal Control

To perform a review of interim financial information, the accountant should have sufficient knowledge of the entity's business and its internal control as they relate to the preparation of both annual and interim financial information to:

Identify the types of potential material misstatements in the interim financial information and consider the likelihood of their occurrence.
Select the inquiries and analytical procedures that will provide the accountant with a basis for communicating whether he or she is aware of any material modifications that should be made to the interim financial information for it to conform with generally accepted accounting principles

AUD - 91
BEC - 82
FAR - 84
REG - 88

”Success at anything will always come down to this: focus & effort. And we control both...” ~ The Rock

[Recked]

Well played. Thanks for the information.

Memento Mori - Kingston NY CPA & EA (SUNY Albany 2002)

FAR-93 11/9/17 (10wks, 250 hrs, Roger 1800+ MCQs, Gleim TB 600+MCQs, SIMs)
AUD-88 12/7/17 (3 wks, 85 hrs, Roger 1000 MCQs no SIMs hail mary)
REG-96 1/18/18 (6 wks, 110 hrs, 1400 MCQs, no SIMs)
BEC-91 2/16/18 (4wks, 90 hrs, 1240 MCQs)

[CS]

Good question. I remember I got it wrong on a Gleim MCQ, which explained that the review for interim statements of an issuer are the same limited procedures as a non-issuer.

 

 

[Author]

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