Audit Final Review

Front 1

Quick Ratio

Back 1

(Cash eq+mktable securities+net receivables)/current liab

Front 2

Cash Ratio

Back 2

(Cash eq+mktable securities)/current liab

Front 3

I/C- Control Environment Component

Back 3

-HR policies and practices
-participation of those charged with governance
-org structure
-assignment of authority, responsibility, and accountability

Front 4

PPS Sampling Interval Calculation

Back 4

Tolerable Misstatement/Reliability Factor

Front 5

Control deficiencies identified for nonissuer

Back 5

Control deficiency- mgmgt only within 60 days of report release
Significant deficiency and material weakness- to both mgmt and governance. By report release date

Front 6

I/C-Risk Assessment Component

Back 6

identification, analysis, and mgmt of risks relevant to the prep of F/S. Done by entity

Front 7

I/C- Information System Component

Back 7

-identify and record all valid transactions
-describe transactions in a timely manner and detail to allow proper classification
-measure and record the proper monetary value of transactions
-recording transactions in correct period
-present transactions and related disclosures in the F/S

Front 8

I/C- Monitoring Component

Back 8

-mgmt and supervisory activities
-separate I/C evaluations
-internal audit
-eval of communications from external parties

Front 9

SAS

Back 9

nonissuers: regular audit, IC noted during regular audit, and review of interim F/S

Front 10

PCAOB

Back 10

Issuers: audit, review of interim F/S

Front 11

SSAE

Back 11

Attest: agreed upon procedures, financial forecasts and projections, pro forma F/S, IC, compliance, MD&A

Front 12

SSARS

Back 12

nonissuers: compilations and reviews of F/S