Cold file review
A cold file review is a review of an engagement file after the report has been issued, commonly used in a firm’s monitoring activities. It can identify deficiencies, root causes and opportunities to improve quality. It is different in timing and purpose from an engagement quality review completed on or before the report date.
Worked example
A firm selects a completed audit file and evaluates whether evidence supported significant judgements, then considers any required remediation.
Common mistake
A post-issuance monitoring review does not replace a required pre-report engagement quality review.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AAA (INT) | Supporting | September 2026–June 2027 |