Audit
Quality Control System Objective
Audit firm establishes the audit quality control system
within firm mainly for following reasons.
1. Compliance with professional Standard
Audit is conducted in accordance
with the some professional standard and guideline. Professional standards are basically internationally recognized best practices which provide basic guideline
for audit. The international auditing standard is a typical example of
professional standards.
2. Compliance with Regulatory Requirements
Every country has some
rules and regulation for conduct of audit. These rules are specifically
designed to meet the need of the respective country. Quality control system
also ensures compliance with those rules and regulations.
3. Appropriate Reporting
Auditor provides opinion
(reports) and these reports are widely used by different user. Auditor reports
are widely used for informed decision making .Therefore it is very important
that auditor must issue appropriate opinion.
