Outsource providers.

Australasian Business Intelligence, October, 2006

Byline: Paul Reid and Grahame Nanson

Oct 09, 2006 (CA Charter - ABIX via COMTEX) -- The Public Company Accounting Oversight Board (PCAOB) has developed Auditing Standard no 2 (draft).

Some elements of the standard deal with outsource providers when their services constitute part of their internal controls over financial reporting of their clients. The PCAOB states that the only procedures that may be performed by both management and the auditor to understand the controls operated by that provider are: testing the user organisation's controls over the activities of the service provider, testing controls at the service organisation, and obtaining a service auditor's report on controls.

Publication Date: October 2006

 
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