audit-support

The audit-support skill assists organizations with SOX 404 compliance by providing structured methodology for control testing, sample selection, and documentation standards. It helps financial professionals navigate the complex requirements of internal control assessment over financial reporting (ICFR), including scoping significant accounts, evaluating control effectiveness, and classifying deficiencies. This skill addresses the challenge of maintaining consistent, auditor-ready documentation while ensuring proper risk assessment and testing procedures are followed.

The skill provides comprehensive guidance on SOX 404 control testing methodology, covering the full lifecycle from scoping and risk assessment through testing and evaluation. It includes frameworks for identifying significant accounts using both quantitative (materiality thresholds, transaction volume) and qualitative factors (complexity, fraud susceptibility, management judgment). The skill outlines relevant assertions by account type, distinguishes between design effectiveness and operating effectiveness testing, and provides multiple sample selection approaches including random selection, judgmental selection, and stratified sampling. It also covers control deficiency classification and common control types across the financial close process.

This skill is designed for financial controllers, internal audit teams, compliance officers, and accounting professionals responsible for SOX 404 compliance activities. Use cases include generating testing workpapers, selecting appropriate audit samples, evaluating control design and operating effectiveness, classifying control deficiencies by severity, and preparing documentation for internal or external audits. The skill is particularly valuable during year-end close processes, quarterly control testing cycles, and when responding to auditor requests for evidence of ICFR effectiveness.