An internal evaluation of the significant judgments made by the audit team and the conclusions reached in formulating its report for engagements meeting specified criteria is known as a(n):

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An engagement quality control review is an internal evaluation of the significant judgments made by audit teams and the conclusions reached in formulating its reports for engagements meeting specified criteria. This review is performed to ensure that the audit was conducted in accordance with professional standards and the firm's policies and procedures. Inspection refers to an external evaluation of the firm's quality control system by a regulatory body or industry group. Peer review is an external review of a CPA firm's quality control system by another CPA firm. Performance control evaluation is not a recognized term in auditing.

An Internal Evaluation of the Significant Judgments Made by the Audit