[The following note became effective February 6, 2006, and was deleted 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.]
  1. Note:   Some controls have only an indirect effect on a major class of transactions, such as certain controls in the control environment or risk assessment components of internal control over financial reporting.  The auditor need not perform a walkthrough of major classes of transactions that are affected only indirectly by the controls specifically identified by management as addressing the material weakness.