An engagement quality review by a second partner of the audit documentation and financial statements is performed to ensure that the:
A)"To-do lists" are reviewed and cleared.
B)Audit plan procedures are "signed off."
C)Tick-mark notations are cleared.
D)Audit work meets the quality standards of the firm.

Question

Quizplus · Accepted Answer

An engagement quality review is performed by a second partner to ensure that the audit work meets the quality standards of the firm, including compliance with auditing standards and regulations. This review is intended to provide an added level of assurance that the financial statements are accurate and complete. While "to-do lists," audit plan procedures, and tick-mark notations may all be reviewed as part of the engagement quality review, the primary objective is to ensure overall quality of the audit work.

An Engagement Quality Review by a Second Partner of the Audit