31386 paragraphs found
Notwithstanding the assignment of responsibilities related to the system of quality management in accordance with paragraph 20 , the firm remains ultimately responsible for the system of quality management and holding individuals responsible and …
An individual(s) assigned responsibility for the matters in paragraph 20 is typically a partner of the firm so that they have appropriate influence and authority within the firm, as required by paragraph 21 . However, based on the legal structure of the …
How the firm assigns roles, responsibilities and authority within the firm may vary and law or regulation may impose certain requirements for the firm that affect the leadership and management structure or their assigned responsibilities. An individual(s) …
Compliance with independence requirements is essential to the performance of audits, or reviews of financial reports, or other assurance engagements, and is an expectation of stakeholders relying on the firm’s reports. The individual(s) assigned …
Law, regulation or AUASB standards may establish additional requirements for an individual assigned responsibility for a matter(s) in paragraph 20 , such as requirements for professional licensing, professional education or continuing professional …
The appropriate experience and knowledge for the individual(s) assigned operational responsibility for the system of quality management ordinarily includes an understanding of the firm’s strategic decisions and actions and experience with the firm’s …
How the firm designs the firm’s risk assessment process may be affected by the nature and circumstances of the firm, including how the firm is structured and organised. Scalability examples to demonstrate how the firm’s risk assessment process may …
The process of establishing quality objectives, identifying and assessing quality risks and designing and implementing responses is iterative, and the requirements of this ASQM are not intended to be addressed in a linear manner. For example: In …
Information sources that enable the firm to establish quality objectives, identify and assess quality risks and design and implement responses form part of the firm’s information and communication component and include: The results of the firm’s …