Page 87 - AA Integrated Workbook STUDENT 2018-19

Planning

Review responsibilities include consideration of whether:

 The work has been performed in accordance with professional standards

 Appropriate consultations have taken place

 The work performed supports the conclusions reached

 The evidence obtained is sufficient and appropriate to support the auditor's
report.

The engagement partner should perform a review of critical areas of judgment,
significant risks and other areas of importance throughout the audit. The extent and
timing of the partner's reviews should be documented

Engagement Quality Control Review

Listed entities and other high risk clients should be subject to an engagement quality
control review (EQCR). This is also referred to as a pre-issuance review or 'Hot'
review.

High risk clients include those which are in the public interest, those with unusual
circumstances and risks, and those where laws or regulations require an EQCR.

The engagement quality control reviewer:

 Should have the technical qualifications to perform the role, including the
necessary experience and authority, and

 Should be objective. To be objective the reviewer should not be selected by the
engagement partner and should not participate in the engagement.

Note: An engagement quality control reviewer may also be referred to as an
independent review partner.

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