What happens if your engagement team discovers some sort of “issue” or “discrepancy” when testing the operating effectiveness of identified controls? There are many factors to consider, such as the severity of the finding, which will require professional judgment. In this CPE-eligible (1.0 CPE), eLearning course, you will learn how to differentiate between a control deviation and a control deficiency. Additionally, the course will discuss the various types of deficiencies, and how to evaluate each type of control deficiency. Lastly, an auditor’s requirements for communicating deficiencies to management will also be covered. If you are an auditor who audits financial statements in accordance with U.S. generally accepted auditing standards (U.S. GAAS) or International Standards on Auditing (ISAs) this course is an absolute must. This course considers the following U.S. GAAS and PCAOB guidance: AU-C 265 and AS 1305.