The CPA Quality Assurance process continues for 2022 in accordance with the Companies Act 2014 and Bye Law 7, Quality Assurance. There are some important changes to the process for 2022. If you receive a notice for a quality assurance review in 2022 you will have received a date for the review of your firm’s engagement files and also a date for the submission of advance information.
There will be more focus by quality assurance staff on the planning stages of the review, resulting in more information being requested in advance of the review of engagement files.
Advance Information Date
You will receive a date by which you must submit this advance information to CPA Ireland. The timely receipt of this information is important to ensure that your review is planned efficiently and effectively.
The advance information must be submitted to CPA Ireland electronically, and consists of the following;
- Completed pre-visit questionnaire: Please click here for form.
- Full client listing
- Most recently completed firm Annual Compliance Review
- ISQC1 policy document
- Anti- Money Laundering policies and procedures for the firm
- Risk assessment of the firm and clients for AML purposes
- CPD records for all statutory auditors
- Financial statements for the firm and a current debtors listing
Opening Meeting
Arrangements for an opening meeting to be held in advance of the file review date will be made with the practitioner. This meeting will be held remotely.
CPD for Statutory Auditors
A more detailed review of CPD conducted by all statutory auditors in the firm for the previous 24 months will be conducted.
Outcome of the Review
The Quality Assurance Executive will not be in a position to issue a final outcome or grade at the closing meeting. All visits are subject to an internal quality review process which assesses the outcome and grade to ensure consistency.
You will be informed in writing of the grade and outcome of your review.
The quality assurance process will continue to be conducted remotely for the immediate future, and will be informed by government advice re COVID 19 in place arrangements in place at the time. Such arrangements will be made with you in advance of the review.
For further details of the process please click here.