DAY 67 OF 100 AUDIT LESSONS · Risk & Controls
Key Person Dependency Is a Risk
When a critical process depends on one person's knowledge, access or presence, the business may be more fragile than it appears.
Why this matters
Ask what happens when the key person is unavailable.
Take it into your next audit
Do not treat this lesson as theory. Connect it to the process objective, the risk, the control and the evidence available. Ask what the lesson changes about the way you plan, test, discuss or report your work.
Auditribe takeaway: Ask what happens when the key person is unavailable.
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