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Dear Tutor
I am confused with job title, does key audit partner include engagement partner+qulity control reviewer +key partner? regard rotation period, is below correct?
engagement partner: max 5 ys, cooling 5ys
quality contrao reviwer: max 7 ys, coolling 5 ys
Key partner: max 7 ys, coolling 2 ysso waht is managing partner? is a key partner? what is the difference between key partner and engagement partner
Many thanks
See here – the engagement partner and EQC reviewer are key audit partners:
https://opentuition.com/topic/key-audit-partner-audit-engagement-partner
A “managing partner” generally means a partner of the FIRM who has responsibilities for day-to-day management of the FIRM – so they can’t be rotated off an audit that they haven’t been engaged on. If they were so engaged with a particular client they would also be engagement partner (or whatever is the role) in that particular engagement. What I’m saying is that although a managing partner might not have their “own” engagements (most likely in a larger firm/practice) the managing partner role might not be full-time in a smaller firm/practice – so the managing partner could also have audit clients.
There’s an article here https://www.accaglobal.com/us/en/member/member/accounting-business/2018/02/practice/managing-partner.html
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