SAMPLE QUALITY CONTROL MANUAL
Quality Control has continued to form a key pillar in assessment of any firm’s extent of satisfaction to its clientele. Maintenance and enhancement of quality of performance related to the conduct of a firm as a whole has remained a cornerstone for accounting firms both in the developing and developed world.
It is therefore any firm’s objective to establish, implement, maintain, monitor, and enforce a quality control system that provides reasonable assurance that the partners and staff members of the firm comply with the International Standard on Quality Control (ISQC) 1, “Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements” and that the firm’s engagement reports are appropriate for the circumstances.
The ICPAU’s Sample Quality Control Manual gives guidance for accounting firms in developing their Quality Control manuals. The Sample is premised on the key tenants of ISQC 1 of; Leadership Responsibilities for Quality within the Firm; Relevant Ethical Requirements; Acceptance and Continuance of Client Relationships and Specific Engagements; Human Resources; Engagement Performance; Monitoring and Documentation. Each practitioner is encouraged to develop their own manual for the execution of their role tailored to match their firm’s conditions.