Procedures for Quality Audit (PQA)
UPDATE May 2018: Our Procedures for Quality Audit (PQA) pack has been updated. New version available now.
Ensuring compliance at all stages of the audit process can be difficult, particularly when you are trying to strike a balance between cost and efficiency.
Fully compliant with the International Standards on Auditing (UK) our work programmes are designed to lead you through the process of compliance in an efficient and structured manner. Procedures for Quality Audit is updated on an annual basis for any changes in legislation or audit regulations.
|Comprehensive work programmes covering all stages of the audit process from planning, right through to fieldwork and completion.|
|Includes digital word document templates which can be customised to the needs of your firm.|
|No worries about compliance due to efficient checklists which are up to date with the latest legislation and regulations|
The key changes and updates for 2018 include:
- Updated for, and fully re-referenced to, the ISAs (UK) - including ISQC (UK) 1.
- Updated for, and fully re-referenced to, the FRC Revised Ethical Standard 2016.
- Company size checklist at B1/10 updated to remove reference to old Companies Act thresholds.
- Appointment/Reappointment checklist updated for references to the new Ethical Standard and to prompt auditors to consider their independence from the perspective of an objective, reasonable and informed third party (the “3rd party test”). Additional references provided to Public Interest Entities.
- References to FRS 102 transition removed throughout the pack.
- Consideration of accounting estimates expanded throughout the pack to draw attention to the risks associated with fair value adjustments.
- Consideration of the use of an expert expanded throughout the pack to draw attention to need to document an independent assessment of the expert (even when they are a national/reputable organisation).
- Fixed Asset section updated to prompt additional consideration of asset residual values and impairment.
- Debtors and Creditors sections updated to prompt additional consideration of accounting for directors and related party loans under FRS 102.
- Payroll section updated for references to Key Management Personnel.
- Laws & Regulations section updated to give additional emphasis to auditors consideration of those having a direct or indirect impact on the clients business and your assessment of the risks of non-compliance.
- New Evaluation of Misstatements work programme at A9/1.
- Revised audit report work programme at A14/2 (updated for references to the FRC Compendium of illustrative auditors’ reports on UK financial statements for periods commencing on or after 17 June 2016).
- New closing meeting agenda template at A6/2.
10% discount for CAPS Members.
- Digital pack - first-time purchase £365 + VAT
- Digital pack - annual renewal £230 + VAT
- Hard copy - 5 pack (with digital MS Word templates) £80 + VAT
Request your Procedures for Quality Audit
You may also be interested in:
- The Accountants' Procedures for the Audit Exempt Company (APAEC)
- The Accounts Preparation for the Unincorporated Business (APUB)
- Practice Review Service
Have questions? Contact our Practice Team