Ch 4. Quality control

Question 1

Elements of quality control (6)

Answer 1

• Leadership
• HR
• Engagement performance
• Monitoring
• Client relationships
• Ethics

Question 2

Leadership (3)

Answer 2

1. Provision of resources
2. Allocation of responsibility
3. Policies and procedures

Question 3

HR (3)

Answer 3

1. Reward
2. Recruit
3. Develop

Question 4

Engagement Performance (2)

Answer 4

1. Promoting consistency

2.

Question 5

Engagement Performance (3)

Answer 5

1. Promoting consistency
2. Supervision
3. Hot reviews
   - Review to assess, procedures used by auditor, quality of engagement work and conducted before final report issued.

Question 6

Engagement Performance (3)

Answer 6

1. Promoting consistency
2. Supervision
3. Hot reviews
   - Review to assess, procedures used by auditor, quality of engagement work and conducted before final report issued.

Question 7

Monitoring (1)

Answer 7

1. Cold review
   - Part of firm’s quality review procedures
   -

Question 8

Monitoring (1)

Answer 8

1. Cold review
   - Part of firm’s quality review procedures
   - Identifies deficiencies in firm’s procedures
   - Performed after assignment