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This article applies to:

  • Product: SMART Practice Aids

Enter Test Exceptions

If exceptions or control deficiencies are noted during control testing, enter them in the
Enter Test Exceptions
 window.
To enter test exceptions:
  1. On the
    Navigation
     pane, expand
    Step 1 - Identify Risks
    .
  2. Expand
    Internal Control
     and click
    Enter Test Exceptions
    .
    The Enter Test Exceptions window appears.
  3. Click the
    Add Exception
     button at the bottom of the window.
    The Add Exceptions window appears.
  4. Click the
    +
     symbol next to
    Control Environment
     to expand the list of controls
  5. Select the check boxes for the applicable controls.
  6. Type a description of the exception. You can also include a comment.
  7. Click
    OK
     to save your changes.

For a Financial Statement Audit

For a financial statement audit, you can use the Control Deficiency Evaluation Form and Aggregation Worksheet to determine whether the accumulated deficiencies represent significant deficiencies or material weaknesses that must be communicated to the client.

For a Public Company Audit

For a public company audit of internal control, you can use the Control Deficiency Evaluation Form to summarize, accumulate, and evaluate deficiencies to determine whether they (alone or in combination) represent a material weakness or significant deficiency; and to form an overall conclusion on the effectiveness of internal control.
note
The exceptions that you list in the Enter Test Exceptions form carry forward to the Assess Control Risk form.