• +880 1717 322693
  • info@qsibd.com
  • Al-Haj Shamsuddin Mansion (4th Floor) 17, New Eskaton Road, Maghbazar, Dhaka-1000

International Standard on Quality Control (ISQC)

  1. International Standard on Quality Control (ISQC)

We are committed to providing quality audit and assurance services to our valued clients and stakeholders. In order to ensure quality of services we have separate quality assurance process within the Firm for independent review of quality of audit and assurance services by independent partners or professionals separate from engagement partner and engagement team of the particular audit assignment.

Our quality assurance process has been designed in line with International Standard on Quality Control (ISQC) 1 issued by International Auditing and Assurance Standard Board (IAASB) and adopted by the Institute of Chartered Accountants of Bangladesh (ICAB). ISQC 1 deals with a Firm’s responsibilities for its system and process of quality control for audits and reviews of the financial statements, other assurance and related service agreements. ISQC-1 should be read in conjunction with International Standard on Auditing (ISA) 200, overall objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing.

Depending on our operating characteristics as well as nature, size and complexity of the engagement entity, the nature and extent of the policies and procedures are tailored to fit and comply with the ISQC1 to achieve the ultimate objective of the engagement under ISQC1.

Accordingly the objective of our Firm is to establish and maintain a system of quality control to provide reasonable assurance that:

   ●  Our Firm and its personnel comply with professional standards and applicable legal and 

         regulatory requirements; and

   ●  Reports issued by our Firm or engagement partners are appropriate in the circumstances. The 

        system of quality control essentially requires  the following policies  and procedures that must

        address each of the following items:

   ●  Leadership responsibilities for quality within our  Firm.

   ●  Relevant ethical requirements.

   ●  Acceptance and continuance of client relationship and specific engagements.

   ●  Human resources.

   ●  Engagement performance.

   ●  Monitoring.