


Testing the operating effectiveness of internal controls Reporting on the findings of the review of internal controls
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what is a review engagement Informational
- Discussing the limitations of the review engagement with management and those charged with governance
- Considering IT risks relevant to the review Reviewing electronic data and documentation
- Understanding the local auditing and assurance standards
- Reviewing equity transactions Reviewing revenue recognition policies and procedures
- Considering whether the other information is consistent with the audited financial statements
- Planning the review engagement
- Considering fraud in a review engagement
- Documenting the expectations developed and the results of the analytical procedures
- Considering the impact of new accounting pronouncements Reviewing tax returns and related documentation
- Considering the need for further inquiry based on the results of analytical procedures Reviewing the aging of accounts receivable and payable
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