Question
The audit firm should implement _________ policies to
ensure all audits are conducted in accordance with Audit and Assurance Standards.Solution
The audit firm should implement quality control policies to ensure all audits are conducted in accordance with Audit and Assurance Standards. The quality control should include policies and procedures addressing the following: · leadership responsibilities for quality within the firm · ethical requirements · acceptance and continuance of client relationships and specific arrangements · human resources · engagement performance · monitoring
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