Quality control standards implementation – a guarantee for performing professional services
Author:
Ec. Adrian POPESCU, Ec. Adrei CLIM
JEL:
DOI:
Keywords:
standardization, quality control, delegation, consultancy, monitoring, clients relationships
Abstract:
Recognizing the financial auditor profession responsibilities IFAC has been preoccupied for a long time to find a way to set standards for the audit activities performed by the members of this international professional body in order to reach the final goal of increasing the quality of the audit services performed. \r\n\r\nFor this purpose during 2005 two standards of audit has been developed by IFAC:\r\nI. International Standard on Quality Control 1(ISQC 1) regulating the policies and procedures established at the level of an audit firm. \r\nII. International Standards on Auditing 220 regulating the audit policies and procedures established at the level of an audit engagement. \r\n\r\nThe current article intends to debate the advantages and disadvantages of implementing such quality control systems in Romania.\r\n