Quality Management in Audit & Assurance Practice Requirement In light of IAASBs (International Auditing & Assurance Standards
Question:
Quality Management in Audit & Assurance Practice Requirement In light of IAASB’s (International Auditing & Assurance Standards Board) framework/guidelines write a detailed note on Quality Management in practice & auditing firms. The write-up should include procedures relating (Minimum 1500 words):
Leadership Responsibilities;
Ethical Requirements;
Business Promotion; Structure of the Firm;
KYC procedures and risk assessment before accepting any new engagement.
You should incorporate the references from the following: ISQC 1 “Quality control for firms that perform audits and reviews of historical financial information, and other assurance and related services engagements”. ISA 220 “Quality control for audits of historical financial information.
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg