The objective of the Forum of Firms (Forum) is to promote consistent and high quality standards of financial reporting and auditing practices world-wide.
On 20 October 2010, the Transnational Auditors Committee (TAC), the Executive Committee of the Forum and a committee of the International Federation of Accountants (IFAC) issued a paper titled client acceptance and continuance which summarizes current client acceptance and continuance practices in several of the large network of international accounting firms and examines how asking the right questions can help ensure that only those clients that meet the same standards of quality as the audit firm be accepted and continued.
The paper focuses on how the large networks of international accounting firms have implemented the requirements of 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 in their client acceptance and continuance policies and procedures. The paper also discusses related tools and devices firms have employed to strengthen their client acceptance and continuance decision-making processes.
The paper can be viewed at the Institute’s website at http://www.mia.org.my/new/psp_auditandassurance_knowledgebase.asp.
Please be guided accordingly.
Subscribe to:
Post Comments (Atom)
CCS Group's Official Website
We are thrilled to announce that CCS Group has launched a new website at www.ccs-co.com Some of the great new features of this newly designe...
No comments:
Post a Comment