ISA 220, ―Quality control for audit work requires that all firms implement quality control policies and procedures at the levels of the audit firm, and on individual audits. Those policies and procedures should be communicated to staff, via formal policy statements, audit manuals and informal briefings, and monitored to ensure that they are implemented.
Quality controls ensure the audit is carried out: –
– In accordance with international accounting standards.
In conformity with statutory and contractual requirements
In accordance with ethnical standards.