Page 61 - AAA Integrated Workbook STUDENT S18-J19

Quality control

Principles and purpose of quality

control

1.1 Purpose of quality control

In order for there to be confidence in the assurance process, engagements must be
performed that are of satisfactory quality.

Failure to do so would not only mean a loss of confidence in the profession as a
whole but could lead to professional negligence claims against the assurance
provider.

Therefore firms must:

 Perform work that complies with professional standards and regulatory and
legal requirements

 Issue reports that are appropriate in the circumstances

If a professional negligence claim is made, and the firm has followed suitable quality
control procedures, they should be able to defend the claim.

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