Actions/implications of control deficiency identified

Generally 1 mark per comment

– ½ mark ref ISA 265
 – Extend audit testing
 – Determine if deficiency is a deficiency or significant deficiency
 – If significant report in writing to those charged with governance
 – Communication to include description and recommendation
 – Communication on a timely basis
 – Insignificant deficiency need not be reported – depends on auditor judgement

Max marks 5