Quality Control Guide

This document is a quality control guide for auditing and assurance engagements. It provides guidance on the ethical requirements, acceptance and continuance of client relationships, engagement performance, and leadership responsibilities for quality within the firm.

Questions

• What are the ethical requirements for auditing and assurance engagements?
• How should client relationships be accepted and continued?
• What are the key steps in the engagement performance process?
• What are the leadership responsibilities for quality within the firm?

Answers

• The ethical requirements for auditing and assurance engagements include independence, objectivity, confidentiality, and professional behavior.
• Client relationships should be accepted and continued only if the firm can meet the ethical requirements and the client is a good fit for the firm’s services.
• The engagement performance process includes planning, conducting the audit, and reporting the results.
• The leadership responsibilities for quality within the firm include establishing a quality control system, monitoring the system, and taking corrective action when necessary.