CAT / FIA FAU Syllabus B. Audit Planning And Risk - Quality control procedures - Notes ^{3 / 4}

Review

Audit work performed by each assistant should be reviewed by personnel of appropriate experience to consider whether:

1. The work has been performed in accordance with the audit plan.

2. The work performed and the results obtained have been adequately documented.

3. Any significant matters have been resolved or are reflected in audit conclusions.

4. The objectives of the audit procedures have been achieved.

5. The conclusions expressed are consistent with the results of the work performed and support the audit opinion.

When the audit work has been completed and reviewed, the audit engagement partner completes an overall review of the working papers to ensure that he is able to issue his opinion.

Hot & Cold reviews

• Hot Reviews

  are independent reviews carried out by another audit partner prior to the signing of the audit report.

• Cold reviews

  are independent reviews carried out by another audit partner in the firm after the audit report has been issued.