Page 352 - CA Inter Audit PARAM
P. 352
CA Ravi Taori
➢ Such policies and procedures should include an ongoing consideration and evaluation of the firm’s
system of quality control, including a periodic inspection of a selection of completed engagements.
➢ The purpose of monitoring compliance with quality control policies and procedures is to provide an
evaluation of:
Adherence to professional standards and regulatory and legal requirements;
Whether the quality control system has been appropriately designed and effectively
implemented; and
Whether the firm’s quality control policies and procedures have been appropriately
applied, so that reports that are issued by the firm or engagement partners are
appropriate in the circumstances.
➢ Follow-up by appropriate firm personnel so that necessary modifications are promptly made to the
quality control policies and procedures.
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