Quality Control
CPA firm shall have a system of quality control for its services
This system should provide a CPA firm with reasonable assurance of meeting its responsibility to provide professional services that conform with professional standards.
1. Elements
1)
2) Personnel management
3) Acceptance and continuance of clients and engagements
- The primary purpose is to minimize the likelihood of association with clients whose management lacks integrity.
4) Engagement performance
5) Monitoring