ISA 210 (8) Flashcards
1
Q
What is a peer review?
A
A review of audit file carried out by another partner in assurance firm
2
Q
What is a hot review?
A
Peer review carried out before auditor;s report is signed
3
Q
What is a cold review?
A
A peer review carried out after auditor’s report is signed
4
Q
What does monitoring a firm’s quality management system and procedures involve>
A
Ongoing evaluation
Periodic inspection
5
Q
What is ongoing evaluation?
A
Considering whether the firm has kept up-to-date with regulatory requirements
6
Q
What is periodic inspection?
A
Inspecting the audit engagements of each engagement partner over an inspection cycle
