ASA 220 Quality Control for an Audit of a Financial Report and Other Historical Financial Information requires policies and procedures including:
A) acceptance and continuance of client relationships and specific engagements.
B) leadership responsibilities for quality on audits.
C) ethical requirements (including independence).
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 policies and procedures that address acceptance and continuance of client relationships and specific engagements, leadership responsibilities for quality on audits, and ethical requirements including independence. All of these elements are crucial to ensure that audit work is conducted with integrity, objectivity, and professional skepticism. Therefore, the best answer is D.