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Illustrative Quality Control Manual
This publication serves to provide guidance to practitioners of Small and Medium-sized Practices (SMPs) in their implementation of the Singapore Standard on Quality Control (SSQC) 1 Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements.
About this publication:
This illustrative quality control manual (IQCM) serves to provide guidance to practitioners of Small and Medium-sized Practices (SMPs) in their implementation of the Singapore Standard on Quality Control (SSQC) 1 Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements.
The IQCM also includes guidance for implementing policies, procedures and controls for prevention of activities related to money laundering and the financing of terrorism, in accordance with EP 200 Anti-Money Laundering and Countering the Financing of Terrorism - Requirements and Guidelines for Professional Accountants in Singapore.
It is presented as the Quality Control Manual of a Singapore-registered public accounting firm, PA LLP (“the Firm”), prepared in accordance with the SSQC 1 and EP 200. The Firm is assumed to consist of two partners and not more than ten professional staff. It is not part of any network and has 200 assurance clients. All the clients are neither listed entities nor public interest entities.
| Illustrative Quality Control Manual - updated April 2017 | Click here to download a copy. |
| Illustrative Quality Control Manual - published January 2016 | Click here to download a copy. |
Important notices:
- This publication is intended as an illustrative guide rather than a definitive statement.
- The policies and procedures in this publication are not meant to be exhaustive. Reference should be made to the relevant standards and regulations.
- This publication should not be relied upon as a substitute for seeking professional advice concerning the appropriate policies and procedures for specific individual situations or ensuring compliance with SSQC 1 or EP 200.