Statement on Auditing Standards No. 94 is known as “The Effect of Information Technology on the Auditor’s Consideration of Internal Control in a Financial Statement Audit.” SAS 94 provides guidance to auditors concerning the effect of information technology on internal control, and on the auditor’s understanding of internal control and assessment of control risk. Organizations are increasingly using IT in ways that affect their internal control environment and the auditor’s consideration of internal control in a financial statement audit. As a result, circumstances may arise where auditors may need to perform tests of controls to perform an effective audit.
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