1. Practice
Management

2. Quality Control

3. Quality Control
Due skill and Care

4. Quality Control
Due skill and Care
Technical Competence

5. Quality Control

6. Quality Control
Incorrect
Audit Opinion
Risk

7. Quality Control

8. Quality Control
Sued for
Negligence
Risk

9. Quality Control

10. Quality Control

11. Quality Control

12. Quality Control
Individual Audit

13. Quality Control
Individual Audit

14. Quality Control
Individual Audit Audit Firm

15. Quality Control
Individual Audit Audit Firm
ISA 220

16. Isa 220the engagement
key quality control matters on
partner

17. Isa 220the engagement
key quality control matters on
partner
• ethical standards are complied with

18. Isa 220the engagement
key quality control matters on
partner
• ethical standards are complied with
• independence requirements are met

19. Isa 220the engagement
key quality control matters on
partner
• ethical standards are complied with
• independence requirements are met
• procedures for new engagements

20. Isa 220the engagement
key quality control matters on
partner
• ethical standards are complied with
• independence requirements are met
• procedures for new engagements
• appropriate audit team

21. Isa 220the engagement
key quality control matters on
partner
• ethical standards are complied with
• independence requirements are met
• procedures for new engagements
• appropriate audit team
• appropriate management of team

22. Isa 220the engagement
key quality control matters on
partner
• ethical standards are complied with
• independence requirements are met
• procedures for new engagements
• appropriate audit team
• appropriate management of team
• adequate consultation on difficult matters

23. Isalisted company
If audit of
220
engagement quality control reviewer

24. Isalisted company
If audit of
220
engagement quality control reviewer
• objective evaluation of the significant
judgements

25. Isalisted company
If audit of
220
engagement quality control reviewer
• objective evaluation of the significant
judgements
• evaluation of the firm’s independence

26. Isalisted company
If audit of
220
engagement quality control reviewer
• objective evaluation of the significant
judgements
• evaluation of the firm’s independence
• audit documentation selected for review
reflects the work performed

27. Isalisted company
If audit of
220
engagement quality control reviewer
• objective evaluation of the significant
judgements
• evaluation of the firm’s independence
• audit documentation selected for review
reflects the work performed
• Has adequate consultation on difficult
matters occurred?

28. Quality Control

29. Quality Control

30. Quality Control
Individual Audit

31. Quality Control
Individual Audit

32. Quality Control
Individual Audit Audit Firm

33. Quality Control
Individual Audit Audit Firm
ISA 220

34. Quality Control
Individual Audit Audit Firm
ISA 220 ISQC 1

35. Quality Control
Individual Audit Audit Firm
ISA 220 ISQC 1
Quality control for firms that perform audits
and reviews of financial statements, and other
assurance and related services engagements

36. ISQC 1 each of the
a system in place which addresses
following :

37. ISQC 1 each of the
a system in place which addresses
following :
• Leadership responsibilities for quality

38. ISQC 1 each of the
a system in place which addresses
following :
• Leadership responsibilities for quality
• Ethical requirements

39. ISQC 1 each of the
a system in place which addresses
following :
• Leadership responsibilities for quality
• Ethical requirements
• Acceptance and continuance of engagements

40. ISQC 1 each of the
a system in place which addresses
following :
• Leadership responsibilities for quality
• Ethical requirements
• Acceptance and continuance of engagements
• Human resources

41. ISQC 1 each of the
a system in place which addresses
following :
• Leadership responsibilities for quality
• Ethical requirements
• Acceptance and continuance of engagements
• Human resources
• Engagement performance

42. ISQC 1 each of the
a system in place which addresses
following :
• Leadership responsibilities for quality
• Ethical requirements
• Acceptance and continuance of engagements
• Human resources
• Engagement performance
• Monitoring

43. ISQC 1 each of the
a system in place which addresses
following :
• Leadership responsibilities for quality
• Ethical requirements
• Acceptance and continuance of engagements
• Human resources
• Engagement performance
• Monitoring
• Documentation

44. ISQC 1 each of the
a system in place which addresses
following :
• Leadership responsibilities for quality
• Ethical requirements
• Acceptance and continuance of engagements
• Human resources
• Engagement performance
• Monitoring
• Documentation

45. Leadership
Responsibilities

46. Leadership
Responsibilities
• Culture of Quality

47. Leadership
Responsibilities
• Culture of Quality
• Appropriate experience and authority

48. Ethical
Requirements

49. Ethical
Requirements
• comply with relevant ethical requirements

50. Ethical
Requirements
• comply with relevant ethical requirements
• maintain independence & communicate to
staff (identify threats and safeguards)

51. Ethical
Requirements
• comply with relevant ethical requirements
• maintain independence & communicate to
staff (identify threats and safeguards)
• annual written confirmation from staff of
compliance policies on independence.

52. Acceptance and
continuance of
engagements

53. Acceptance and
continuance of
engagements
• Competent to perform

54. Acceptance and
continuance of
engagements
• Competent to perform
• Capable to do so

55. Acceptance and
continuance of
engagements
• Competent to perform
• Capable to do so
• Considered integrity of client

56. Acceptance and
continuance of
engagements
• Competent to perform
• Capable to do so
• Considered integrity of client
• Consider conflicts of interest

57. Acceptance and
continuance of
engagements
• Competent to perform
• Capable to do so
• Considered integrity of client
• Consider conflicts of interest
• Professional clearance from old auditors

58. Acceptance and
continuance of
engagements
• Competent to perform
• Capable to do so
• Considered integrity of client
• Consider conflicts of interest
• Professional clearance from old auditors
• Anti money laundering procedures

59. Human
Resources

60. Human
Resources
• Sufficient personnel with the competence,
capabilities and commitment to ethical
principles

61. Human
Resources
• Sufficient personnel with the competence,
capabilities and commitment to ethical
principles
• An appropriate engagement partner and
team are assigned

62. Human
Resources
• Sufficient personnel with the competence,
capabilities and commitment to ethical
principles
• An appropriate engagement partner and
team are assigned
• Auditing procedures in a manual
(reinforced by training)

63. Engagememt
Performance

64. Engagememt
Performance
• Promote consistent quality engagement
performance

65. Engagememt
Performance
• Promote consistent quality engagement
performance
• Supervision responsibilities

66. Engagememt
Performance
• Promote consistent quality engagement
performance
• Supervision responsibilities
• Review responsibilities (on the basis that
more experienced team members
review the work of less experienced team
members)

67. Engagememt
Performance
• Promote consistent quality engagement
performance
• Supervision responsibilities
• Review responsibilities (on the basis that
more experienced team members
review the work of less experienced team
members)

68. Monitoring of
quality control
procedures

69. Monitoring of
quality control
procedures
• Evaluate if any deficiencies found indicate a
failing in the firm’s quality control system

70. Monitoring of
quality control
procedures
• Evaluate if any deficiencies found indicate a
failing in the firm’s quality control system
• Communicate deficiencies to relevant
personnel, together with appropriate
remedial action

71. Direction of Audit
Staff

72. Direction of Audit
Staff
• Their responsibilities
• Nature of the business of the client
company
• Risk-related issues
• Problems that may arise with the audit and
how these problems should be dealt with if
they do occur

73. Review of Audit
Work

74. Review of Audit
Work

75. Review of Audit
Work
Audit

76. Review of Audit
Work
Audit
Hot Review

77. Review of Audit
Work
Audit
Hot Review

78. Review of Audit
Work
Audit Audit Report
Hot Review

79. Review of Audit
Work
Audit Audit Report
Hot Review Post Audit Review

80. Review of Audit
Work
Audit Audit Report
Hot Review Post Audit Review
Audit Manager
Audit Partner

81. Review of Audit
Work
Audit Audit Report
Hot Review Post Audit Review
Audit Manager
Audit Partner

82. Review of Audit
Work
Audit Audit Report
Hot Review Post Audit Review
Audit Manager
Audit Partner
Modified Opinion?

83. Review of Audit
Work
Audit Audit Report
Hot Review Post Audit Review
Audit Manager
Audit Partner
Modified Opinion?
Second Partner Review

84. Review of Audit
Work
Audit Audit Report
Hot Review Post Audit Review
Peer review Audit Manager
Audit Partner
Modified Opinion?
Second Partner Review

85. Review of Audit
Work
Audit Audit Report
Hot Review Post Audit Review
Peer review Audit Manager
Audit Partner
Modified Opinion?
Second Partner Review

86. Review of Audit
Work
Audit Audit Report
Hot Review Post Audit Review
Peer review Audit Manager
Audit Partner
Review by a specialist
‘Audit review
Modified Opinion?
department’
Second Partner Review