Identification of Key Controls 557



  • Does anyone have a test chart or other guidence to help identify what is a key control vs what is a sub-process or operational control. Has anyone seen any guidence, bench mark or best practice in deciding what is key and what is not?



  • Since each company’s control environment is unique, there is no master list of key controls that are applicable to everyone. This has to be determined by the management team.



  • What I am actually looking for is a decision tree to help determine which controls are key and need to be tested vs. controls that can be deemed as operational or sub processes. We have taken a cratle to grave approach during year one and now wish to eliminate non-key controls.



  • What I am actually looking for is a decision tree to help determine which controls are key and need to be tested vs. controls that can be deemed as operational or sub processes. We have taken a cratle to grave approach during year one and now wish to eliminate non-key controls.
    You need to test the controls that give you assurance over your financial statements assertions.


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