Tanya Lekhi asked 4 weeks ago
Sir sqc1 points are so similar with sa 220 but also at the same time different i am not able to retain the points as they get mixed up sir could you plz guide over it how to easily retain these points
1 Answers
Ravi Staff answered 1 week ago
SQC 1 talks about developing polices and procedures for 6 elements which will become quality control system for all assurance and related services.
SA 220 is about implementation of firm level quality controls system to audit of financial statements.
So points has to be similar. It’s absolutely fine if points of SQC-1 are written from application point of view. It’s fine to miss 1 or 2 point.
If something is significantly different then you can think about remembering it separately.