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Internal control

Internal Control Flowchart

The
Internal Control
 flowchart, accessed from the SMART Practice Aids toolbar, provides an overview of how to apply a top-down, risk-based approach when evaluating internal control over financial reporting as part of a financial statement audit. This approach is considered generally to be the most efficient and effective approach for evaluating internal control.
The Internal Control option appears on the toolbar only when you are currently viewing one of the Internal Control forms.
To view the Internal Control flowchart, click
Internal Control
 on the toolbar. When the flowchart opens, click
Using This Flowchart
 in the upper right corner for a description of how to use this interactive feature.