Documentation (Ref: Para. 28—30)Documentation (Ref: Para. 28—30)

Documentation (Ref: Para. 28–30)

1. Paragraphs 57 to 60 of ASQM 1 address the firm’s documentation of its system of quality management. An engagement quality review performed in accordance with this ASQM is therefore subject to the documentation requirements in ASQM 1.
2. The form, content and extent of the documentation of the engagement quality review may depend on factors such as:

• The nature and complexity of the engagement;
• The nature of the entity;
• The nature and complexity of the matters subject to the engagement quality review; and
• The extent of the engagement documentation reviewed.

1. The performance and notification of the completion of the engagement quality review may be documented in a number of ways. For example, the engagement quality reviewer may document the review of engagement documentation electronically in the IT application for the performance of the engagement. Alternatively, the engagement quality reviewer may document the review through means of a memorandum. The engagement quality reviewer’s procedures may also be documented in other ways, for example, in the minutes of the engagement team’s discussions where the engagement quality reviewer was present.
2. Paragraph 24(b) requires that the firm’s policies or procedures preclude the engagement partner from dating the engagement report until the completion of the engagement quality review, which includes resolving matters raised by the engagement quality reviewer. Provided that all requirements with respect to the performance of the engagement quality review have been fulfilled, the documentation of the review may be finalised after the date of the engagement report, but before the assembly of the final engagement file. However, firm policies or procedures may specify that the documentation of the engagement quality review needs to be finalised on or before the date of the engagement report.