Engagement Quality

Ongoing learning and development is a key requisite for audit staff within an audit department. While standards and regulations are continuously changing, keeping abreast of changes and communicating these to relevant audit staff may not always be easy. Our training will give your audit staff the tools and knowledge they require to carry out their audits in the most effective and efficient manner. From basic auditing principles to risk assessment and identification, we can provide your staff with training that is customised to their specific needs.  

Customised training for your firm could include, among others:

• Audit training for new joiners within your firm
• Training specific to the new quality standard ISQM 1
• Training on the revised ISA 315 (Revised) standard

Embarking on the meticulous process of cold file reviews in the world of audit requires expertise, precision and a keen eye for detail – qualities that define our exceptional services at Zampa Partners. With our team of audit professionals, we specialise in conducting comprehensive cold file reviews. Our approach involves a thorough analysis of your audit files, ensuring these are compliant with relevant auditing standards, evaluating the effectiveness of audit methodologies utilised and identifying weaknesses within these files. We go beyond this – we also provide actionable insights and recommendations to enhance the quality of your audits and ensure weaknesses are minimised going forward.

Audit quality is our priority, and together, we’ll raise the bar for audit excellence.

The implementation of ISQM 1 in December 2022 affected both small and larger firms alike, emphasizing the importance for firms to establish a system of quality management which assists and contributes to the performance of quality engagements.   This new standard requires firms to customise the design, implementation and operation of the system of quality management based on the firms own circumstances and engagements. It also requires firms to have policies and procedures in place that address the system of quality management as a whole, and not as standalone elements, as was required by the previous quality standard, ISQC 1.

The implementation of a new standard can be a daunting challenge for businesses and this is where our specialised consultancy services come into play. At Zampa Partners, we pride ourselves on being at the forefront of industry knowledge, particularly when it comes to the latest audit standards and regulations. Our expert consultants are well-versed on ISQM, and can assist you to ensure that your firm not only meets the requirements of the standard, but also leverages the changes to drive operational excellence.

Our services can include, at a minimum:

• • • • Assisting firms with the drafting of their ISQM 1 manual
      • Assessment of firms risk assessment procedures, including respective quality objectives, quality risks and responses.
      • The design and implementation of monitoring activities
      • Assessment of firm resources, including human, financial, technological and intellectual
      • Guidance on the evaluation of the firms system of quality management
        

The execution of an effective audit may require audit teams to handle complex audit-related technical matters. At Zampa Partners, our expert team of professionals are available to provide top-quality audit consultation services that are tailored to meet your specific needs. With a deep understanding of auditing standards and regulations, we specialise in resolving intricate technical queries that may arise during your audit process. Our experts bring a wealth of experience and knowledge, ensuring accurate and insightful solutions to your most challenging audit-related questions. Trust us to be your reliable partner in addressing your audit-related technical concerns.