Monitoring And Quality

Question 1

Quality

Answer 1

Here are the simplified smart notes:

Remediation Responsibilities

1. Understand firm’s monitoring and remediation process.
2. Take action if it affects the audit.

Responsibilities During Audit

1. Stay alert for important information.
2. Share information with the right people.

Quality Responsibility

1. Engagement partner takes overall responsibility
2. Ensure quality is achieved before finalizing the audit report.