Please explain the applicability of peer review i.e there different levels?

1 answer

Audit Staff June 13, 2018

Entities in
Level I will be covered once in 3 years
Level II will be covered once in 4 years
Level III will be covered once in 5 years
For peer review, they have given list of entities which will be covered in level I, in level II ca firms doing branch audits are covered and level III is residuary category
We made a trick to remember all level I list, difficult to share it here.

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