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[The following paragraph was amended as a result of adoption of PCAOB Auditing Standard No. 7, effective for engagement quality reviews of audits and interim reviews for fiscal years beginning on or after December 15, 2009. See PCAOB Release 2009-004.

Return to the current version.]

QC 20.18

Policies and procedures for Engagement Performance encompass all phases of the design and execution of the engagement. To the extent appropriate and as required by applicable professional standards, these policies and procedures should cover planning, performing, supervising, reviewing, documenting, and communicating the results of each engagement. Where applicable, these policies and procedures should also address the concurring partner review requirements applicable to SEC engagements as set forth in membership requirements of the SEC Practice Section of the AICPA. [As amended, applicable to a CPA firm's system of quality control for its accounting, auditing, and attestation practice as of January 1, 2000, by Statement on Quality Control Standards No. 4.]

Copyright © 2002, American Institute of Certified Public Accountants, Inc.