Ch 1 · Quality Control & Engagement Standards

📘 Core concepts

1. 1SA 220 / SQC 1: quality control at engagement and firm level.
2. 2Elements: leadership, ethics, acceptance, HR, performance, monitoring.
3. 3Engagement Quality Control Review (EQCR) for listed entities & high-risk.
4. 4Documentation retention: 7 years from report date for audit; 5 for review/other assurance.
5. 5Peer Review Board (PRB) and Quality Review Board (QRB) — ICAI mechanisms.