Audit inspectors saw some improvement in the audit of management review controls during their 2018 inspections, but it’s still the highest area of internal control findings and will continue to be a focus in 2019.
“Although the number of deficiencies has decreased the past few years, it continues to be the most frequent finding” when it comes to inspections of audit work over internal controls, said George Botic, director of inspections at the Public Company Accounting Oversight Board, at a year-end conference of the American Institute of Certified Public Accountants.
