Understanding Internal Control and Internal Control Services

BY THOMAS A. RATCLIFFE, CPA, AND CHARLES E. LANDES, CPA

This white paper written by Thomas A. Ratcliffe and Charles E. Landes and prepared by the AICPA Audit and Attestation Standards and Professional Publications teams seeks to clear up confusion among practitioners relating to the concept of internal control over financial reporting. It describes the concepts of internal control (specifically internal control over financial reporting) and discusses the types of services related to internal control that may be performed by practitioners in public practice.

To download the paper in PDF format, click here.

Thomas A. Ratcliffe (tomr@wilsonprice.com) is director emeritus of the School of Accountancy at Troy University and director of accounting and auditing at Wilson Price. He also is the former chair of the Accounting and Review Services Committee and is currently a member of the Auditing Standards Board.

Charles E. Landes (clandes@aicpa.org) is a vice president and director of the AICPA Audit and Attestation Standards Team. He also is the AICPA’s representative to and a board member of the Committee of Sponsoring Organizations of the Treadway Commission.

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