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The International Standard on Quality Control (ISQC) deals with a firms responsibilities for its system of quality control for audits and review of financial statements,
The International Standard on Quality Control (ISQC) deals with a firms responsibilities for its system of quality control for audits and review of financial statements, and other assurance and related services engagements.
Required:
Identify and describe FOUR (4) quality control procedures that are applicable to an audit engagement.
(16 marks)
Discuss TWO (2) problems that may be faced in implementing quality control procedures in a small firm of Chartered Accountants. ( 9 marks)
Total = 25 marks
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