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ASQC 1 - Quality Control for Firms that Perform Audits and Reviews of Financial Reports and Other Financial Information, and Other Assurance Engagements
Documentation of the System of Quality CDocumentation of the System of Quality Control
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Documentation of the System of Quality Control
- The firm shall establish policies and procedures requiring appropriate documentation to provide evidence of the operation of each element of its system of quality control. (Ref: Para. A73‑A75)
- The firm shall establish policies and procedures that require retention of documentation for a period of time sufficient to permit those performing monitoring procedures to evaluate the firm’s compliance with its system of quality control, or for a longer period if required by law or regulation.
- The firm shall establish policies and procedures requiring documentation of complaints and allegations and the responses to them.
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