Chapter 2.docx - ISQC 1 u2013 Firm Level To provide the...

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CHAPTER 2 ELEMENT OF QC Leadership Responsibilities ISQC 1 – Firm Level To promote an internal culture that quality is essential. The managing board of partners assumes ultimate responsibility of QC system. Set the right ‘tone at the top’. ISA 220 – Engagement Level Recognize and reward on high quality work. Communicate by training, seminars, meetings, formal or informal dialogue, mission statements, newsletters, briefing memoranda. Sufficient resources for the development and support QC. Commercial considerations never override quality of work. Ethical Requirements ISQC 1 – Firm Level To promote reasonable assurance that the firm and personnel comply with Fundamental principles of ethics. Maintain independence (of mind and in appearance) QC. ISA 220 – Engagement Level Knowledge about client engagement and scope of service enable to comply with professional competence and due care. Notify possible threat to independence.
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