Are financial statement footnotes reviewed for completeness of required disclosures related to owners’ equity?
Items 1 through 6 are common questions found in internal control questionnaires used by auditors to obtain an understanding of internal control for owners’ equity. In using the questionnaire for a client, a “yes” response indicates a possible internal control, whereas a “no” indicates a potential deficiency. 1. Are all entries in the owners’ equity […]