[The following paragraph was effective for audits of financial statements for periods ending on or after January 1, 1990. It was amended as a result of the adoption of Auditing Standard No. 5, effective for audits of fiscal years ending on or after November 15, 2007. See PCAOB Release 2007-005A.

Return to the current version.]

AU 319.33

Paragraphs .34 through .57 of this section provide an overview of the five internal control components and the auditor's understanding of the components relating to a financial statement audit. A more detailed discussion of these components is provided in the appendix [paragraph .110].

Copyright © 2002, American Institute of Certified Public Accountants, Inc.