View source for ISA 400 Risk Assessments and Internal Control

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'''ISA 400 Risk Assessments and Internal Control''' is one of the [[International Standards on Auditing]]. It serves to require the [[auditor]] to understand the client's [[accounting system]] and [[internal control]] system and to assess [[control risk]] and [[Inherent risk (accounting)|inherent risk]]. The objective is to determine the nature, timing and extent of [[substantive procedures]] in order to reduce [[audit risk]] to an acceptable low level.  

ISA 400 talks about the "walk through testing" or auditing in depth test.

This standard was withdrawn in 2004, and has been replaced with the ISA 315, “Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement” and the ISA 330, “The Auditor’s Procedures in Response to Assessed Risks”{{citation needed|date = December 2012}}

==See also==
* [[Control environment]]
* [[Sarbanes-Oxley]]
* [[Entity-Level Controls]]

[[Category:International standards]]
[[Category:Auditing standards]]


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