Quality Assurance Session 6.

Slides:

Advertisements

Similar presentations

Learning Objectives LO1 Describe the current audit environment, including developments in regulatory oversight and provincial regulation of public accountants.

Advertisements

Discussion on SA-500 – AUDIT EVIDENCE

INVITATIONAL PRACTICUM IN METAEVALUATION Session 2 9/15/11 GAO & Joint Committee Standards DLS 9/13/11 1.

S22: Audit Completion. Audit Completion  Audit completion procedures are to ensure that  competent, relevant and reasonable audit evidence was obtained.

S17: Field work. Session Objectives  To explain the manner in which field audit is carried out.  To explain the nature of evidence and the different.

Operational Auditing--Fall Evidence = Support 4 Auditors collect information 4 Evidence should be sufficient, competent, relevant & useful 4 Methodology.

Operational Auditing--Fall Evidence = Support n Auditors collect information n Evidence should be sufficient, competent, relevant & useful n Methodology.

Operational Auditing--Spring Evidence = Support  Auditors collect information  Evidence should be sufficient, competent, relevant & useful  Methodology.

Auditing April 1, Chapter Two The CPA Profession just skim the section on Generally Accepted Auditing Standards Page

Auditing A Risk-Based Approach To Conducting A Quality Audit

Copyright  2003 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia by Gay & Simnett Slides prepared by Roger Simnett.

ISA 220 – Quality Control for Audits of Historical Financial Information

Financial Audit Autonomous Bodies Internal Control and Risk Assessment Session Internal Control and Risk Assessment.

Learning Objectives LO1 Introduce the concept of auditor responsibilities. LO2 Explain the importance of the study of ethics in helping define auditor.

Unit Assessment: National 4 Added Value Unit This Unit has one Outcome: Apply skills and knowledge to investigate a topical issue in biology and its.

Learning Objectives LO1 Describe the association framework. LO2 Determine whether a PA is associated with financial statements. LO3 Describe the three.

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 17-1 Chapter Seventeen Completing the Engagement Chapter Seventeen.

Auditing & Assurance Services, 6e

Conducting the IT Audit

REVIEW AND QUALITY CONTROL

New Auditing Standards Laurie Ball, CPA Swenson Advisors, LLP (Murrieta) Audit Director Accounting Day May 12, 2008.

Internal controls. Session objectives Define Internal Controls To understand components of Internal Controls, control environment and types of controls.

Chapter 7 Auditing Internal Control over Financial Reporting McGraw-Hill/Irwin ©2008 The McGraw-Hill Companies, All Rights Reserved.

Audit Planning & Audit Evidence

Workshop on Implementing Audit Quality Practices March 2006 Building Quality into the Financial Audit Process The NAO’s experience Gareth Caller.

Corporate Responsibility and Compliance A Resource for Health Care Boards of Directors By Debbie Troklus, CHC and Michael C. Hemsley, Esq.

Chapter 8: Client Risk Profile and Documentation

S7: Audit Planning. Session Objectives To explain the need for planning To explain the need for planning To outline the essential elements of planning.

Evaluation of Internal Control System

Audit Planning. Session Objectives To explain the need for planning To outline the essential elements of planning process To finalise the audit approach.

Understanding the IT environment of the entity. Session objectives Defining contours of financial accounting in an IT environment and its characteristics.

1 Kingsley Karunaratne, Department of Accounting, University of Sri Jayewardenepura, Colombo - Sri Lanka Practice Management.

RTI, MUMBAI / CH 61 REPORTING PROCESS DAY 6 SESSION NO.3 (THEORY) BASED ON CHAPTER 6 PERFORMANCE AUDITING GUIDELINES.

Supervision and Review Supervision and Review. Objective of supervision and review  To ensure that the audit is done efficiently and effectively so that.

Practice Management Quality Control

Documentation. Session objectives Define ‘good documentation’ To explain auditing standards on documentation To explain elements of documentation and.

[Hayes, Dassen, Schilder and Wallage, Principles of Auditing An Introduction to ISAs, edition 2.1] © Pearson Education Limited 2007 Slide 4.1 An Auditor’s.

S15: Supervision and review. Objective of supervision and review  To ensure that the audit is done efficiently and effectively so that the audit opinion.

RTI, Mumbai1 Objective of this session is to test the understanding of the participants with reference to the previous Theory Session which covered the.

Copyright © 2007 Pearson Education Canada 7-1 Chapter 7: Audit Planning and Documentation.

BA 427 – Assurance and Attestation Services Lecture 21 Tests of Controls.

1 - 1 Copyright  2003 Pearson Education Canada Inc. CHAPTER 1 An Overview of Auditing and Assurance Services.

Unit Specifications and Unit Assessment Support Packs.

S19: Documentation of fieldwork. Session Objectives ♂ In the last session, we have discussed the standards of documentation and the standard files to.

P7:Advanced Audit & Assurance (INT). 2 Section F: Reporting Designed to give you knowledge and application of: F1. Auditor’s reports F2. Reports to those.

Introduction to Compliance Auditing

RTI, MUMBAI / CH 71 SUPERVISION, REVIEW AND QUALITY CONTROL DAY 7 SESSION NO.1 (THEORY ) BASED ON CHAPTER 7 PERFORMANCE AUDITING GUIDELINES.

MODULE 6: PLANNING FOR GOVERNANCE AUDIT GOVERNANCE AUDITOR ACCREDITATION COURSE.

AUDIT STAFF TRAINING WORKSHOP 13 TH – 14 TH NOVEMBER 2014, HILTON HOTEL NAIROBI AUDIT PLANNING 1.

ACC 546 Week 2 Individual Assignment Beginning the Audit Report Apollo Shoes is satisfied with the services your firm offers and wants to continue with.

Jean-Pierre Garitte Budapest 29 March 2017

Audit Documentation.

Auditing & Investigations I

Auditing & Investigations II

PLANNING, MATERIALITY AND ASSESSING THE RISK OF MISSTATEMENT

planning AICPA auditing standards state:

Chapter Two The CPA Profession

John T. Rigsby ACC 8033 BUSINESS ASSURANCE

CHAPTER 7 Audit Planning and Documentation

Professional Standards

Chapter 22: Assurance Services: Review and Compilation Engagements

 Phase I - Client Acceptance  Phase II - Planning  Phase III – Field work/Testing and Evidence  Phase IV – Reporting/Evaluation and Judgment PREPARED.

Modern Auditing: Assurance Services and the Integrity of Financial Reporting, 8th Edition William C. Boynton California Polytechnic State University at.

The Ten Generally Accepted Auditing Standards

Chapter Two The CPA Profession

EER Assurance December 2018

Descriptive Analytical

Jean-Pierre Garitte Skopje 8 April 2019

Presentation transcript:

Quality Assurance Session 6

Quality Assurance Supervision and Quality Assurance First stage review Second stage review Quality control review

Supervision and Quality Assurance Assignment Managers should be actively involved in: Assignment planning; Progress control; and Review

Level of scrutiny depends upon First Stage Review Assignment Manager should review all working papers in support of the audit and evidence this review Level of scrutiny depends upon nature of the area, its materiality, the entity risk and complexity of audit judgements involved

Second Stage Review The Assignment Director should perform a review of the working papers in sufficient detail to be satisfied that: audit has been conducted in accordance with appropriate Standards; working papers contain sufficient and appropriate evidence to support the management letter; proposed management letter or report is appropriate and supported by the audit evidence

Quality Control Review Each review determines whether: the audit has been properly planned and identified risks have received adequate attention; conclusions on areas of judgment are explained in and supported by the working papers; the wording of the report or management letter points is appropriate and conforms to relevant Standards; the working papers meet the requirements of Auditing Standards in respect of documentation