Engagement Partner Responsibilities in Quality Management System
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Questions and Answers

What is the primary responsibility of the engagement team?

  • Determining whether to implement responses at the engagement level
  • Designing and implementing responses at the firm level
  • Communicating information from the audit engagement to the firm
  • Implementing the firm's responses to quality risks applicable to the audit engagement (correct)

    • In addition to the firm's policies or procedures, what may the engagement team consider when determining responses at the engagement level?

  • Nature and circumstances of the audit engagement (correct)
  • Firm's financial performance
  • Client's preferences
  • Audit engagement budget

    • What type of information does the engagement team communicate to the firm?

  • Information on the engagement partner's decisions
  • Information regarding client preferences
  • Information required by the firm's policies or procedures to support the design, implementation, and operation of the firm's quality management system (correct)
  • Information on the financial performance of the firm

    • What is the basis for the firm's system of quality management (SQMs)?

    <p>The nature and circumstances of the audit engagement</p> Signup and view all the answers

    Who is responsible for implementing the firm's responses to quality risks applicable to the audit engagement?

    <p>The engagement team, led by the engagement partner</p> Signup and view all the answers

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