"A walk-through involves literally tracing a transaction from its origination through the company’s infor- mation system until it is reflected in the company’s financial reports." (Whittington, R., Pany, K., 2012)
Must walk-throughs be performed during audits of internal control over financial reporting?
Performing Walk-throughs during audits of internal control over financial reporting is not required, "performing walk-throughs may frequently be the most effective way to obtain an understanding of the likely sources of misstatement." (Whittington, R., Pany, K., 2012)
May the client perform a walk-through and the auditors then review the client’s work? Remember to complete all parts of the problems. …show more content…
(2012). Principles of auditing and other assurance services. (18th ed).