Quality Control Guide

This text describes the monitoring procedures that are used by CPA Australia to ensure the quality of assurance engagements.

The monitoring procedures include:

• Selecting engagements for inspection from each engagement partner/principal over an inspection cycle not exceeding a period of three years.
• Selecting some engagements without prior notification to the engagement team.
• Using suitably qualified external personnel or other firms to carry out engagement inspections and other monitoring procedures.
• Determining whether any deficiencies noted as a result of the monitoring process are instances that do not necessarily indicate that the firm’s system of quality control is insufficient, or whether they are systemic, repetitive or other significant deficiencies that require prompt corrective action.
• Communicating deficiencies noted as a result of the monitoring process and recommendations for appropriate remedial action to the relevant engagement partner(s) and other appropriate personnel.
• Determining whether it is necessary to identify the specific assurance engagements concerned when reporting identified deficiencies to individuals other than the relevant engagement partners.

For more information, please visit the CPA Australia website.