Engagement Files Overview

An in depth review of the files which have been pre-selected from your client base will be conducted by the Quality Assurance Executive (QAE). This review may be conducted onsite at your offices or in a remote fashion. Such arrangements will be made with you in advance. On the day of the onsite or remote review, the QAE may choose to select further files to review. This will be communicated to you as soon as is practical.

These files shall be examined to review compliance with the relevant financial reporting framework (FRS 102, S.1A of FRS 102, FRS 105 etc), the International Standards on Auditing (Ireland), Ethical Standards for Auditors and legal and independence requirements. In addition, as required by the Companies Act 2014, we will also review the fees charged and the adequacy of staffing levels for each audit engagement reviewed.

All selected files to be available, including but not limited to audit and assurance engagement files, audit exempt and non-corporate compilation files, secretarial, taxation, correspondence, permanent files and investment business where applicable.

For clients with third party reporting requirements (Law Society, Central Bank, PSRA, etc.) the relevant reports, supporting files and associated correspondence must also be made available.
 

After the initial opening meeting with the Quality Assurance Executive, you will receive a revised copy of the Excel tracking tool. This will confirm what information remains outstanding and include the samples for each of the below: