Management review controls (MRCs) can be challenging because they often involve significant judgment by the control owner and are identified as controls over more judgmental or complex financial statement areas, which typically have a higher risk of material misstatement.
Snapshot 2025-11 discusses MRCs, which are a critical component of management’s internal control responsibilities, focusing on considerations regarding their design, performance, retention of evidence, and associated challenges. This publication also features reminders for entities when designing MRCs as well as tables showing examples of MRCs and of evidence that may be retained by the control owner to support the procedures performed, along with excerpts from example MRCs.
Download Snapshot 2025-11 (PDF - 439 KB) to read more.
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