Regulatory Compliance and Quality Review Programme – Annual Report 2018

Responses to QRP findings and next year’s QRP

37. All the audit firms have made arrangements to report the QRP findings to a suitable management group. Action plans are in place to address both organisation-wide and audit team issues. We will follow up significant recommendations as part of next year’s QRP.
38. We intend to continue with our regulatory compliance reports for all suppliers. Where required, we will make visits to firms.
39. Our programme for next year will continue to include reviews of audit work by the FRC; and reliance on the results of firms’ QMRs.
40. Our aim is to work with firms to ensure that our regulatory requirements continue to be met and that the risks of audit failure remain low.
41. Quality assurance arrangements for limited assurance work for 2017/18 engagements are the responsibility of Smaller Authorities’ Audit Appointments Ltd (SAAA).

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