AA review
AA review
Quality objectives:
- Firm and its personnel fulfil their responsibilities in accordance w professional standards and
applicable legal and regulatory requirements, and conduct engagements in accordance w
standards and requirements
- Engagment reports issued by the firm/engagement partners are appropriate
Auditor’s responsibilities for quality management under ISQM 1
- Implementing the firm’s responses to quality risks that are applicable to the audit engagement
- Determining whether there is a need to design and implement responses for the engagement that
go beyond the firm’s policies and procedures
- Communicating to the firm all matters required to support the firm’s system of quality managem
ent
- Responsible for managing and achieving quality on audit engagement
- Understanding relevant ethical requirements for audit, including those related to independence
- Acceptance and continuance of client relationship and audit engagement
- Allocating sufficient appropriate resources to be able to satisfactorily complete the engagement.
- Monitoring and remediation, taking overall responsibility for managing and achieving quality an
d documentation