SQC 1 and SA 220

Auditing

Hi maam, as understood can we say engagement partner is responsible for adhering to quality control standards as per SA 220, Here will engagement partner refer to SQC 1 for fulfilling his responsibility as per SA 220 of adhering to quality control standards and maintain quality in audit engagement, Is this understanding correct Video Details ------------- Standards on Auditing - CA Final SQC 1 - CA Final #1. SQC1 & SA 220

R Yashwanth Kumar

CA Final

★ 87K+

14-Aug-24 09:32

386

Answers (1)

Sqc 1 talks about quality control for over all firm . SA 220 is wrt only audit engagement. So yes, engagement partner has to adhere to Sqc 1 as well.

Pradnya Bajaj

Faculty

14-Aug-24 18:59