Browsing Tag
Practice Review Department (PRD)
6 posts
MIA Practice Review – Key Findings on Elements of ISQC 1 – Monitoring
Annually, MIA’s Practice Review Department (PRD) issues its Practice Review (PR) report to provide an overview of PRD’s assessment of the audit firms (firms) and share new initiatives and ongoing developments affecting the profession.
Practice Review’s Key Findings on Acceptance and Continuance of Client Relationships and Specific Engagements
The following are some of the key findings from practice review related to the audit firm’s implementation of one of the elements of quality control (ISQC 1), which is “client acceptance and continuance relationships”.
Guidelines on Submission of Working Papers to the Practice Review Department
Advancements in technology and its common availability has led to profound changes in the way audit is being performed, with the majority of audit firms either taking the initiative or being pushed to evolve to embrace new ways of auditing such as data analytics, which has enabled the processing of huge amount of data in an efficient way.
