Page 60 - Auditing Standards
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As of December 15, 2017
AS 1220: Engagement Quality Review
Effective Date: For engagement quality reviews of audits and interim reviews for fiscal years beginning on or
after Dec. 15, 2009
Final Rule: PCAOB Release No. 2009-004
Guidance on AS 1220: Staff Audit Practice Alerts No. 5 and No. 10 and Staff Questions and Answers on
Auditing Standard No. 7, Engagement Quality Review
Summary Table of Contents
.01 Applicability of Standard
.02 Objective
.03 Qualifications of an Engagement Quality Reviewer
.09 Engagement Quality Review for an Audit
.14 Engagement Quality Review for a Review of Interim Financial Information
.18A Engagement Quality Review for an Attestation Engagement Performed Pursuant to Attestation Standard
No. 1, Examination Engagements Regarding Compliance Reports of Brokers and Dealers, or Attestation
Standard No. 2, Review Engagements Regarding Exemption Reports of Brokers and Dealers
.19 Documentation of an Engagement Quality Review
Applicability of Standard
.01 An engagement quality review and concurring approval of issuance are required for the following
engagements conducted pursuant to the standards of the Public Company Accounting Oversight Board
("PCAOB"): (a) an audit engagement; (b) a review of interim financial information; and (c) an attestation
engagement performed pursuant to Attestation Standard No. 1, Examination Engagements Regarding
Compliance Reports of Brokers and Dealers, or Attestation Standard No. 2, Review Engagements Regarding
Exemption Reports of Brokers and Dealers.
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