Quality Control and Quality Audit (PSQC 1 and PSA 120)

Auditing Theory: Concept and Practice Tutorial Series covers the necessary skill and knowledge that will help in passing the CPA Licensure Exam and information that will guide auditors in performing auditing and related services. This video aims to help the viewers understand and review the Quality Control Standards of Audit Firms to ensure the firm's compliance with professional standards and ethical requirements, and to ensure the appropriateness of audit reports issued by the firm to its client. Hi guys! The following list provides the topics discussed in this tutorial. 0:00 - Start 1:20 - PSQC 1 and PSA 120 Objectives 3:30 - Elements of a System of Quality Control 5:50 - Leadership Responsibilities 13:40 - Relevant Ethical Requirements 18:20 - Independence 26:30 - Rotation Requirement Illustration 33:58 - Acceptance and Continuance 43:00 - Human Resources 51:35 - Engage Performance 59:14 - Engagement Quality Control Review 1:06:48 - Engagement Documentation 1:11:30 - Monitoring 1:17:55 - Documentation Facebook Page:   / akawntingpage   Youtube Channel:    / akawnting   Visit our blog: https://akawnting.com