QC sec. 10 of SQCS 8, A Firm’s System of Quality Control
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QC sec. 10 of SQCS 8, A Firm’s System of Quality Control

2 years ago ·

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(Supersedes SQCS No. 7.)
Source: SQCS No. 8; SAS No. 122; SAS No. 128.
Effective date: Applicable to a CPA firm's system of quality control for
its accounting and auditing practice as of January 1, 2012.

Introduction

Scope of This Section

.01 This section addresses a CPA firm's responsibilities for its system of
quality control for its accounting and auditing practice. This section is to be
read in conjunction with the AICPA Code of Professional Conduct and other
relevant ethical requirements.

.02 This section, although applicable to audit and attestation engagements
performed by CPA firms in accordance with Government Auditing Standards,
does not apply to government audit organizations. Instead, those government
audit organizations are subject to the quality control and assurance requirements of Government Auditing Standards, which are similar to those of this
section.

.03 Other professional standards set out additional requirements and
guidance on the responsibilities of firm personnel regarding quality control
procedures for specific types of engagements. AU-C section 220, Quality Control
for an Engagement Conducted in Accordance With Generally Accepted Auditing
Standards, for example, addresses quality control procedures for engagements
conducted in accordance with generally accepted auditing standards. [Revised,
October 2011, to reflect conforming changes necessary due to the issuance of
SAS No. 122.]

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