195 paragraphs found
Engagement supervision includes the following: Tracking the progress of the engagement; Considering the competence and capabilities of individual members of the engagement team, whether they have sufficient time to carry out their work, whether they …
A review consists of consideration of whether: The work has been performed in accordance with AUASB Standards, relevant ethical requirements, and applicable legal and regulatory requirements; Significant matters have been raised for further consideration; …
Consultation includes discussion at the appropriate professional level, with individuals within or outside the firm who have specialised expertise. …
Consultation uses appropriate research resources as well as the collective experience and technical expertise of the firm. Consultation helps promote quality and improves the application of professional judgement. Appropriate recognition of …
Effective consultation on significant technical, ethical and other matters within the firm, or where applicable, outside the firm can be achieved when those consulted: are given all the relevant facts that will enable them to provide informed advice; and …
Documentation of consultations with other professionals that involve difficult or contentious matters that is sufficiently complete and detailed contributes to an understanding of: The issue on which consultation was sought; and The results of the …
A firm needing to consult externally, for example, a firm without appropriate internal resources, may take advantage of advisory services provided by: Other firms; Professional and regulatory bodies; or Commercial organisations that provide relevant …
Criteria for determining which engagements other than audits of financial reports of listed entities are to be subject to an engagement quality control review may include, for example: The nature of the engagement, including the extent to which it …
The date of the engagement report cannot be earlier than the date on which the engagement quality control review is completed. However, documentation of the engagement quality control review may be completed after the date of the report. …
Conducting the engagement quality control review in a timely manner at appropriate stages during the engagement allows significant matters to be promptly resolved to the engagement quality control reviewer’s satisfaction on or before the date of the …