Review past audit reports to ensure the specific program steps and calculations to support the reports' conclusions are stated.

UCF ID: 01160

Control Type: Process or Activity

Status: Live

Supporting and supported controls

This control directly supports:

Review past audit reports for general adequacy. [UCF Control ID 01155]

There are no supporting controls.

Authority documents complied with:

PCAOB Auditing Standard No. 3, ¶ 6, ¶ 10; FFIEC IT Examination Handbook – Audit, August 2003, Exam Tier I Obj 9.4; PCAOB Auditing Standard No. 2, ¶ 109, ¶ 111, ¶ 113

Sarbanes Oxley Guidance

An experienced auditor with no connection to the audit of the organization should be able to review the audit documentation and determine who performed the work; when the work was completed; who reviewed the work; when the work was reviewed; the evidence obtained by the auditor; the results, timing, and extent of the test procedures used for the audit; and the conclusions reached by the auditor. The audit documentation for the inspection of organizational documents should include the identification of all documents that will be inspected. When inspecting agreements or contracts between organizations, abstracts or copies of the documents should be included in the audit documentation. [¶ 6, ¶ 10, PCAOB Auditing Standard No. 3]

The auditor should consider using the work of others; he/she should evaluate the controls tested by others and evaluate the objectivity and competence of the individuals performing the work and test some of the work to determine its quality and effectiveness. If the auditor uses the work of others, he/she is responsible for their results. The auditor should review the results of work performed by others to determine if he/she needs to conduct more or fewer tests than were previously run. [¶ 109, ¶ 111, ¶ 113, PCAOB Auditing Standard No. 2]

Banking and Finance Guidance

[Exam Tier I Obj 9.4, FFIEC IT Examination Handbook – Audit, August 2003]