Lesson: Auditor's Communication Objectives

In this lesson, Nick Palazzolo discusses the objectives of auditor communication, focusing on the interaction between auditors and those charged with governance. The key objectives include clear communication of responsibilities, an overview of the plan scope and timing of an audit, obtaining information relevant to the audit, providing timely observations, and promoting two-way communication between the auditor and those charged with governance. The lesson also addresses potential situations where individuals hold management and governance roles and highlights the importance of ensuring that necessary communication is effectively shared with all relevant parties.