what is the difference between SQC 1 ,SA220 and peer review????

1 answer

Ravi Staff March 19, 2018

SQC 1 — Specifies principle / policies / procedures to be developed by / at CA Firm level to maintain quality of all types of assignments audits / review / examination of non- historical info / related services
SA 220 — Talks about implementation of firm level quality policies / procedures to individual audit level by engagement partner

Peer Review — Reviewer checks whether ca firm has system of quality control for performing assurance assignments and checks whether  it is being implemented. defficiens are pointed and ca firm is given chance to improve 
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