[The following footnote was effective for audits of financial statements for periods ending after December 15, 1991. It was amended, effective for audits of fiscal years beginning on or after December 15, 2010. See PCAOB Release No. 2010-004.

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fn 3 Section 319, Consideration of Internal Control in a Financial Statement Audit, describes the procedures the auditor follows to obtain an understanding of internal control and indicates that the internal audit function is part of the entity's control environment.