All Engagement Quality Review articles

  • Blog post

    PCAOB prepares new rule on outside auditors, reviews EQR standard


    The PCAOB has scheduled an open meeting to consider a proposed new requirment around firms relying on others outside the principal firm to assist with audit work. The new proposal would address the lead auditor’s responsibilities with respect to those other auditors from outside the principal audit firm who participate ...

  • Blog post

    PCAOB Sanctions Small Firms for Quality Reviews


    Audit regulators have disciplined seven small audit firms and some of their employees for lapses in internal reviews of audit engagement reviews. The PCAOB censured the seven firms, from across the country, together with seven individuals and the companies for their violations of Auditing Standard No. 7: Engagement Quality Review. ...

  • Blog post

    Study Finds Blind Spot in Audit Quality Reviews


    New research suggests audit reviewers may sometimes give audit teams the benefit of the doubt when reviewing a team’s work. The study found reviewers who had no knowledge of any ill feelings on the part of the audit manager reached judgments consistent with the audit evidence. Those who were aware ...