Page 31 - Auditing Standards

As of December 15, 2017

AS 1201: Supervision of the Audit Engagement

Effective Date: For audits of fiscal years beginning on or after Dec. 15, 2010

Final Rule: PCAOB Release No. 2010-004
Guidance on AS 1201: Staff Audit Practice Alerts No. 6, No. 8, and No. 10

Summary Table of Contents

.01 Introduction

.02 Objective

.03 Responsibility of the Engagement Partner for Supervision

.05 Supervision of Engagement Team Members

Appendix A - Definition

Introduction

.01 This standard establishes requirements regarding supervision of the audit engagement, including
supervising the work of engagement team members.

Objective

.02 The objective of the auditor is to supervise the audit engagement, including supervising the work of

engagement team members so that the work is performed as directed and supports the conclusions reached.

Responsibility of the Engagement Partner for Supervision

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.03 The engagement partner is responsible for the engagement and its performance. Accordingly, the
engagement partner is responsible for proper supervision of the work of engagement team members and for
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compliance with PCAOB standards, including standards regarding using the work of specialists, other
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5
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auditors, internal auditors, and others who are involved in testing controls. Paragraphs .05-.06 of this
standard describe the nature and extent of supervisory activities necessary for proper supervision of
engagement team members. 6

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