On every engagement, we review budget, actual time spent, audit programs, engagement memoranda, financial statements, management letters, and evaluations of the system of internal control when applicable.

All work should be performed with the ultimate objective of delivering high-quality work as a prerogative.

Engagement working papers and reports are reviewed by the engagement partner. If the team includes the engagement partner alone, such a review should be performed on the following day after the work has been completed.

When performing the review, reviewers should confirm:

• The engagement team’s work was compliant with all relevant professional and ethical requirements that apply to the engagement, including requirements for objectivity and professional skepticism.
• Firm’s policies were followed, and any departures were documented and justified.
• Work was performed appropriately, due care was given as required.
• Communications required were made and documented.
• Reports issued were appropriate in the context of each engagement.