The Quality Assurance Review (QAR) Programme helps Public Accountants improve the quality of their practices and audit engagements. It covers the following areas:
Review of the firm's system of quality control for compliance with 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.
Review of the firm's internal policies, procedures and controls for compliance with the Ethics Pronouncement ("EP") 200 Anti-Money Laundering and Countering the Financing of Terrorism - Requirements and Guidelines for Professional Accountants in Singapore.
Review of the Public Accountant's engagement file(s) for compliance with the Singapore Standards on Auditing ("SSA").
Upon completion of the QAR Programme, a QAR report which includes the findings and proposed action plans will be furnished to the Public Accountant.