Our Audit Quality Programme in Practice

Our practice management arrangements provide engagement teams with technical direction, consultation and review throughout their work.

• A firmwide System of Quality Management, supported by policies, guidance and oversight of compliance.
• The Department of Professional Practice provides technical support on accounting, auditing, reporting and ethical matters, including consultation on complex or contentious issues.
• Second Line of Defence support and oversight beyond the engagement team, with practical guidance and review aids.
• Engagement quality reviews where required, including an objective evaluation of significant judgements and the conclusions reached.
• Information technology audit guidance and specialist support, together with regulatory affairs activities and constructive engagement with audit regulators.

A consistent methodology and structured workflow help teams translate quality objectives into engagement procedures and documentation.

• Audit methodology, work programmes, templates and guidance maintained for current professional requirements.
• A mandatory audit learning curriculum and continuing development focused on technical knowledge, judgement and professional scepticism.
• Digital workflows and analytical tools that support documentation, review and evidence evaluation.
• Monitoring of engagement milestones and progress so that emerging delivery and quality issues can be addressed promptly.

Monitoring provides information about how our quality arrangements operate and where improvement is needed.

• Assessment of the design, implementation and operating effectiveness of the System of Quality Management.
• Engagement inspections and analysis of quality indicators, findings and recurring themes, including focused attention to banking audits and other areas requiring specialist knowledge.
• Root cause analysis, remedial action plans, assigned responsibilities and follow-up on the effectiveness of corrective action.