Which one of the following statements is correct? ASA 220 Quality Control for an Audit of a Financial Report and Other Historical Financial Information requires audit firms to adopt policies which address:
A) ethical requirements.
B) assignment of engagement teams.
C) engagement performance.
D) all of the above

Question

Quizplus · Accepted Answer

ASA 220 Quality Control for an Audit of a Financial Report and Other Historical Financial Information requires audit firms to adopt policies which address all of the given areas, including ethical requirements, assignment of engagement teams, and engagement performance. The purpose of adopting such policies is to ensure that the audit is conducted in an independent, objective, and systematic manner, complying with relevant professional standards and legal regulations. Therefore, all the options are correct.

Which One of the Following Statements Is Correct? ASA 220