IRBA Public Inspections Report 2017 - ISQC 1 Have you looked at the IRBA Public Inspections Report 2017 yet? Several critical issues were identified at firm level that all firms should consider. Firm leadership: Tone at the top - lead by example Development of internal culture of quality Promptly monitor, identify and communicate common weaknesses Root cause analysis for deficiencies identified Balanced commercial interests to protect audit quality Consistent audit quality on all audits Independence as underlying root cause for most deficiencies: Prohibited non-audit services (preparing financial statements) Audit tenure disclosed in audit report was incorrect or omitted [...]

Attorneys' Trust Accounts It is Attorneys' Trust Account audit season. Is your assurance methodology effective and covering all auditing requirements, or is it only testing compliance with the Rules? Compliance will not guarantee you finding an error and you have to consider your business risk as a firm and be sure you are able to do adequate work to find any possible error. It is therefore critical that your audit work covers all requirements of ISAE 3000 (Revised), which is derived from ISA principles, to ensure that your methodology is appropriate and addresses all relevant risks [...]