Rodel S. Navarro; Business and Management Consultant and Director; RODEL SY NAVARRO BUSINESS CONSULTANCY SERVICES (RSNBCS); Tel / Mobile: +63-0917-7333563; Email: rsnbcs@gmail.com http://www.slideshare.net/RSNBCS; (About Business Laws compilation): http://www.slideshare.net/BUSINESSLAWSPH Email: businesslawsph@gmail.com; https://www.slideshare.net/FREEPDFBOOKSPH; freepdfbooksph@gmail.com; www.slideshare.net/IFRS_IAS_COMPILED; ifrs.ias.compiled@gmail.com; https://www.slideshare.net/PH_STANDARDSONAUDITING_COMPILED; psauditing.compiled@gmail.com
Rodel S. Navarro; Business and Management Consultant and Director; RODEL SY NAVARRO BUSINESS CONSULTANCY SERVICES (RSNBCS); Tel / Mobile: +63-0917-7333563; Email: rsnbcs@gmail.com http://www.slideshare.net/RSNBCS; (About Business Laws compilation): http://www.slideshare.net/BUSINESSLAWSPH Email: businesslawsph@gmail.com; https://www.slideshare.net/FREEPDFBOOKSPH; freepdfbooksph@gmail.com; www.slideshare.net/IFRS_IAS_COMPILED; ifrs.ias.compiled@gmail.com; https://www.slideshare.net/PH_STANDARDSONAUDITING_COMPILED; psauditing.compiled@gmail.com
Use of audit clauses in information technology and outsourcing agreements including implications for the Cloud, OSFI Memorandum of February 29, 2012, control audits and CSAE 3416 Audits (Richard Austin and Ken Silverman)
ISQC 1 (Revised) Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and other Assurance and Related Services Engagements
Rodel S. Navarro; Business and Management Consultant and Director; RODEL SY NAVARRO BUSINESS CONSULTANCY SERVICES (RSNBCS); Tel / Mobile: +63-0917-7333563; Email: rsnbcs@gmail.com http://www.slideshare.net/RSNBCS; (About Business Laws compilation): http://www.slideshare.net/BUSINESSLAWSPH Email: businesslawsph@gmail.com; https://www.slideshare.net/FREEPDFBOOKSPH; freepdfbooksph@gmail.com; www.slideshare.net/IFRS_IAS_COMPILED; ifrs.ias.compiled@gmail.com; https://www.slideshare.net/PH_STANDARDSONAUDITING_COMPILED; psauditing.compiled@gmail.com
Rodel S. Navarro; Business and Management Consultant and Director; RODEL SY NAVARRO BUSINESS CONSULTANCY SERVICES (RSNBCS); Tel / Mobile: +63-0917-7333563; Email: rsnbcs@gmail.com http://www.slideshare.net/RSNBCS; (About Business Laws compilation): http://www.slideshare.net/BUSINESSLAWSPH Email: businesslawsph@gmail.com; https://www.slideshare.net/FREEPDFBOOKSPH; freepdfbooksph@gmail.com; www.slideshare.net/IFRS_IAS_COMPILED; ifrs.ias.compiled@gmail.com; https://www.slideshare.net/PH_STANDARDSONAUDITING_COMPILED; psauditing.compiled@gmail.com
Use of audit clauses in information technology and outsourcing agreements including implications for the Cloud, OSFI Memorandum of February 29, 2012, control audits and CSAE 3416 Audits (Richard Austin and Ken Silverman)
ISQC 1 (Revised) Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and other Assurance and Related Services Engagements
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
3. SMO 1: Quality Assurance
SMO 2: International Education Standards for Professional Accountants
& Other Pronouncements Issued by the IAESB
SMO 3: International Standards & Other Pronouncements Issued by the
IAASM
SMO 4: IESBA Code of Ethics for ProfessionalAccountants
SMO 5: IPSAS & Other Pronouncements Issued by the IASB
SMO 6: Investigation & Discipline
SMO 7: IFRS & Other pronouncements issued by the IASB
Statement of Membership Obligations 1 - 7
7. SMO 1:
QualityAssurance
(QA)
Requirement by IFAC
member bodies to set-up a
quality assurance review
system to monitor it’s
members who perform audit,
reviews, other assurance and
related services
engagements of Financial
Statements.
Comply or face penalties…
Para. 1:
In accordance with IFAC Constitution, para 2.3.b, IFAC
member bodies are required to comply with the
SMOs.
9. Sets out requirements of IFAC member bodies to
establish a quality assurance review system for firms
performing audit, review, other assurance & related
service engagements
QA is addressed at three levels:
• engagement level,
• firm level &
• the body responsible for the QA review system.
IAASB establishes standards & provides guidance on
quality control policies and procedures for;
Scope of SMO 1
10. • specific types on engagements (e.g. ISA 220,
Quality Control for an audit of Financial
Statement).
• a firms responsibilities for its system of
quality control for audits and reviews of
financial statements and other assurance &
related services engagements (ISQC 1
• Only to firms performing engagements in the
jurisdiction of the IFAC member body.
Scope of SMO 1 cont’d.
11. Scope of SMO 1 cont’d.
In some jurisdictions, quality assurance review
systems for firms performing audits of listed or
other public interest entities are operated by an
external authority, whiles systems for firms
performing all other audits are operated by IFAC
member bodies.
In such cases, and for efficient reasons, IFAC
member bodies shall give due considerations to
quality assurance system operated by the other
appointed authority to ensure there is no undue
overlap between the systems.
13. Applicability Framework
SMO 1 p.9
Without prejudice to the existence of more complex national frameworks, IFAC member
bodies may have:
• direct responsibility for the area covered by this SMO. The mandate, explicitly given to
the IFAC member body or otherwise implied through general consensus, specifies that
it is responsible for setting the rules and operating the quality assurance review system;
• no responsibility for the area covered by this SMO. The IFAC member body has no
mandate, explicitly given or otherwise implied through general consensus, for any
responsibility for setting the rules and operating the quality assurance review system as
government, regulators, or other appointed authorities have direct responsibility for
the area covered by this SMO; or
14. SMO 1 p.9 cont’d.
• shared responsibility with government,
regulators, or other appointed
authorities. The mandate, explicitly given
to the IFAC member body or otherwise
implied through general consensus,
specifies that it has some responsibility
for the area relating to this SMO.
16. Scope of Quality Assurance Review System
Para. 15:
In accordance with the applicability framework, a mandatory quality
assurance review system shall be in place for firms performing audits of
financial statements.
In jurisdictions where coverage of all audits of financial statements (in
accordance with paragraphs 34 through 41) creates an undue burden, priority
shall be given to statutory audits and audits of financial statements of public
interest entities.
Nevertheless, all firms performing audits of financial statements shall be
subject to the possibility of selection for quality assurance review.
17. Scope of Quality Assurance Review System cont’d.
Para. 16:
Because the public places greater interest in audits of financial statements, it
is appropriate for mandatory quality assurance review systems to apply to at
least those engagements. It is desirable, however, for the largest range of
professional services performed by professional accountants to be subject to
quality assurance review systems that are commensurate with the nature of
the services.
Therefore, parties responsible for the quality assurance review system are
encouraged to extend their scope to cover as many professional services as
possible, including, for example, other assurance engagements, preparation
of financial statements, or internal audit services.
18. IAASB PRONOUNCEMENTSCONT’D
Pronouncement Application
International Standards on Auditing (ISA) Audit of historical financial information
International Standards on Review Engagements (ISRE) Review of historic financial information
International Standards on Assurance Engagements (ISAE) Assurance engagements dealing with subject matter other than
historic financial information
International Standards on Related Services (ISRS) Compilation engagements, engagements to apply agreed upon
procedures to information and other related services
engagements
International Standards on Quality Control (lSQC) All services falling under ISAs, ISAEs and ISRSs
International Auditing Practice Statements (IAPS) Provide interpretive guidance and practical assistance to
professional accountants in implementing ISAs and to promote
good practice
OTHER RELEVANT IAASB PRONOUNCEMENTS
19. Scope of Quality Assurance Review System cont’d.
Para. 17:
Criteria, or risk factors, shall be
established and published for evaluating
all other engagements to determine
whether they shall be included in the
scope of the system.
Any engagements meeting these criteria
shall be included in the scope of the
quality assurance review.
20. Scope of Quality Assurance Review System cont’d.
Para. 18:
Criteria for extending the scope of engagements that will be subject to a
quality assurance review include:
• the number and range of stakeholders who may make decisions based on
the engagement result;
• the extent to which the subject matter and the engagement results are of
public interest, or may affect the public’s confidence in public institutions
or public administration;
• the identification of unusual circumstances or risks in an engagement or
class of the identification of unusual circumstances or risks in an
engagement or class of engagement; and
• laws and regulations requiring inclusion of specific engagements in the
scope of the quality assurance review system.