An Audit of Internal Control Over Financial Reporting That Is Integrated with An Audit of Financial Statements

What the authority record establishes

AS 2201 establishes requirements for audits of internal control over financial reporting integrated with financial-statement audits.

Binding for registered public accounting firms in applicable audits

The exact official title, issuing body, jurisdiction, version or application record, and linked source define the scope of this page. Readers should not transfer the authority's status to a commercial product or infer transaction-, patient-, system-, site-, or organization-specific applicability from this summary.

Why it matters to this market

Treasury-system changes can affect significant accounts, risks, controls, evidence, interfaces, reports, and change management within an ICFR assessment.

Affected operating stages

• Scope
• Control Design
• Execution
• Monitoring
• Evidence
• Improvement

Capabilities to examine

Payment Initiation Approval And Release Control

Ask how the system or service identifies the controlling source and version, applies customer-specific interpretation, handles exceptions, preserves human judgment, and retains evidence for payment initiation approval and release control.

Bank-Account Management And Signatory Governance

Ask how the system or service identifies the controlling source and version, applies customer-specific interpretation, handles exceptions, preserves human judgment, and retains evidence for bank-account management and signatory governance.

Cash And Bank Reconciliation

Ask how the system or service identifies the controlling source and version, applies customer-specific interpretation, handles exceptions, preserves human judgment, and retains evidence for cash and bank reconciliation.

Hedge Accounting And Effectiveness Evidence

Ask how the system or service identifies the controlling source and version, applies customer-specific interpretation, handles exceptions, preserves human judgment, and retains evidence for hedge accounting and effectiveness evidence.

Treasury Accounting Journals And Close Support

Ask how the system or service identifies the controlling source and version, applies customer-specific interpretation, handles exceptions, preserves human judgment, and retains evidence for treasury accounting journals and close support.

Policy Limits Approvals And Segregation Of Duties

Ask how the system or service identifies the controlling source and version, applies customer-specific interpretation, handles exceptions, preserves human judgment, and retains evidence for policy limits approvals and segregation of duties.

Audit Trail Control Evidence And Record Retention

Ask how the system or service identifies the controlling source and version, applies customer-specific interpretation, handles exceptions, preserves human judgment, and retains evidence for audit trail control evidence and record retention.

ERP Accounting Market-Data And API Integration

Ask how the system or service identifies the controlling source and version, applies customer-specific interpretation, handles exceptions, preserves human judgment, and retains evidence for ERP accounting market-data and API integration.

Treasury Master-Data Normalization And Lineage

Ask how the system or service identifies the controlling source and version, applies customer-specific interpretation, handles exceptions, preserves human judgment, and retains evidence for treasury master-data normalization and lineage.

Case Workflow Exception And Task Management

Ask how the system or service identifies the controlling source and version, applies customer-specific interpretation, handles exceptions, preserves human judgment, and retains evidence for case workflow exception and task management.

Affected buyer audiences

• treasury
• finance
• payments
• risk and controls

Implementation questions

• Which entities, products, populations, transactions, systems, sites, or jurisdictions are actually within scope?
• What is binding, what is guidance, and what is a technical or consensus standard?
• Which publication, adoption, effective, application, transition, and enforcement dates differ?
• Who owns legal, clinical, quality, regulatory, policy, or operational interpretation?
• How will a source revision affect open work and historical decisions?

Interpretation boundary

The standard does not certify treasury software or establish that configured automated controls are appropriately designed or operating effectively.