Review Responsibilities (Ref: Para. 37(c))ĬSAE 3001.A73 Under CSQC 1, the firm’s review responsibility policies and procedures are determined on the basis that the work of less experienced team members is reviewed by more experienced team members. (c) Reviews being performed in accordance with the firm’s review policies and procedures, and reviewing the engagement documentation on or before the date of the assurance report (Ref: Para. A73) Responsibilities of the Engagement PartnerĬSAE 3001.37 The engagement partner shall take responsibility for the overall quality on the engagement. 15-17)ĬAS 220.A21 Where a member of the engagement team with expertise in a specialized area of accounting or auditing is used, direction, supervision and review of that engagement team member’s work may include matters such as:Īgreeing with that member the nature, scope and objectives of that member’s work and the respective roles of, and the nature, timing and extent of communication between that member and other members of the engagement team.Įvaluating the adequacy of that member’s work including the relevance and reasonableness of that member’s findings or conclusions and their consistency with other audit evidence. The evidence obtained is sufficient and appropriate to support the auditor’s report andĬonsiderations Relevant Where a Member of the Engagement Team with Expertise in a Specialized Area of Accounting or Auditing Is Used (Ref: Para. A17-A18, A21)ĬAS 220.A17 Under CSQC 1, the firm’s review responsibility policies and procedures are determined on the basis that work of less experienced team members is reviewed by more experienced team members.ĬAS 220.A18 A review consists of consideration whether, for example: The capabilities and competence of the individual team members performing the audit work.ĬAS 220 contains further guidance on the direction, supervision and review of audit work.ĬAS 220.16 The engagement partner shall take responsibility for reviews being performed in accordance with the firm’s review policies and procedures. The assessed risks of material misstatement (for example, an increase in the assessed risk of material misstatement for a given area of the audit ordinarily requires a corresponding increase in the extent and timeliness of direction and supervision of engagement team members, and a more detailed review of their work). 11)ĬAS 300.A16 The nature, timing and extent of the direction and supervision of engagement team members and review of their work vary depending on many factors, including: A16-A17)ĭirection, Supervision and Review (Ref: Para. The objectives of the engagement procedures have been achieved.ĬSQC1.33 The firm’s review responsibility policies and procedures shall be determined on the basis that work of less experienced team members is reviewed by more experienced engagement team members.ĬAS 300.11 The auditor shall plan the nature, timing and extent of direction and supervision of engagement team members and the review of their work. The evidence obtained is sufficient and appropriate to support the report and ![]() The work performed supports the conclusions reached and is appropriately documented ![]() There is a need to revise the nature, timing and extent of work performed Significant matters have been raised for further consideration Īppropriate consultations have taken place and the resulting conclusions have been documented and implemented The work has been performed in accordance with professional standards and applicable legal and regulatory requirements ![]() ![]() A review consists of consideration of whether: (b) Supervision responsibilities and (Ref: Para. (a) Matters relevant to promoting consistency in the quality of engagement performance (Ref: Para. Such policies and procedures shall include: Performance Audit, Special Examination, and Other Assurance EngagementsĬSQC1.32 The firm shall establish policies and procedures designed to provide it with reasonable assurance that engagements are performed in accordance with professional standards and applicable legal and regulatory requirements, and that the firm or the engagement partner issue reports that are appropriate in the circumstances.
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