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Hi sir,
1) can the audit partner be the quality control reviewer?
2) if audit partner audit the client for 7 years.
Then cooloff of 2 years
Then is it allowed to be quality control reviewer for the client?
Can u clarify the situation for each points
Thanks1) See page 46 of the notes – an EQCR must be carried out by a reviewer INDEPENDENT of the audit (so cannot be the audit engagement partner but could be another audit partner in the firm).
2) Search on “seven years” in the rulebook and you will see that during the cooling off period, the audit partner could not provide QC for the engagement. (By implication then, after 2 years the former audit partner could resume the role of engagement partner or perform EQCR.)
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