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  • At.2520 Professional Standards Including Quality Control

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    The document discusses professional standards, quality control, and professional liabilities for auditing and assurance standards. It covers the Auditing and Assurance Standards Council which oversees standards for a three-year renewable term. Quality control nature and extent are discussed along with standards and leadership responsibility. Ethical requirements, acceptance, resources, engagement performance, monitoring, and professional liabilities in terms of wrongdoings and auditor liability to clients and third parties are summarized.

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    Auditing

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    The document discusses professional standards, quality control, and professional liabilities for auditing and assurance standards. It covers the Auditing and Assurance Standards Council which oversees standards for a three-year renewable term. Quality control nature and extent are discussed along with standards and leadership responsibility. Ethical requirements, acceptance, resources, engagement performance, monitoring, and professional liabilities in terms of wrongdoings and auditor liability to clients and third parties are summarized.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    15 views28 pages

    At.2520 Professional Standards Including Quality Control

    Uploaded by

    awesome bloggers
    The document discusses professional standards, quality control, and professional liabilities for auditing and assurance standards. It covers the Auditing and Assurance Standards Council which oversees standards for a three-year renewable term. Quality control nature and extent are discussed along with standards and leadership responsibility. Ethical requirements, acceptance, resources, engagement performance, monitoring, and professional liabilities in terms of wrongdoings and auditor liability to clients and third parties are summarized.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 28

    Professional Review and

    Training Center (PRTC)

    Professional Standards,
    Quality Control, and
    Professional Liabilities
    (AT.2520)
    Leomar R. Cabarles
    Professional
    Standards
    Auditing and
    Auditing and Assurance
    Assurance Standards
    Standards Council
    Council
    AASC
    AASC

    Three-year term, renewable for another


    AASC
    AASC
    Quality Control
    Nature of
    Nature of QC
    QC
    Extent of
    Extent of QC
    QC
    QC Standards
    QC Standards
    HEAL ME DOC CO
    Leadership Responsibility
    Leadership Responsibility
    Ethical Requirements
    Ethical Requirements
    Acceptance and
    Acceptance and Continuance
    Continuance
    Human Resources
    Human Resources
    Engagement Performance
    Engagement Performance
    Monitoring
    Monitoring
    Professional
    Liabilities
    Degree of
    Degree of Wrongdoings
    Wrongdoings

    None Reasonable care

    Ordinary No reasonable care


    Negligence
    Gross No care; reckless behavior
    Negligence

    Fraud Intent to deceive


    Auditor’s Liability
    Auditor’s Liability

    Plaintiff Minimum Basis


    Client Ordinary negligence
    (Due to privity of
    contract)

    Third party:
    Primary beneficiary Ordinary negligence
    Others Gross negligence
    DIY Drill Answers
    DIY Drill Answers
    DIY Drill Answers
    DIY Drill Answers
    DIY Drill Answers

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