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ABOUT KIBR

ABOUT THE CHAMBER
  Events and information
  Assemblies
  KIBR Bodies
  Examinations Committee
  KRBR Committees
  KIBR Office
  Conferences and trainings
  10 years of KIBR
  Contact

LEGAL REGULATIONS
  Law on Auditors
  Statute
  Professional standards
  Ethics
  Quality Assurance
  Disciplinary action
  Qualifying conduct
  KRBR resolutions
  Financial activities
  Continuing Professional Development
  IFAC Code of Ethics

LIST OF ENTITIES ENTITLED
TO CARRY OUT THE AUDIT
OF FINANCIAL STATEMENTS

REGIONAL BRANCHES

PUBLICATIONS
 

 

english version

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NATIONAL  CHAMBER OF  STATUTORY  AUDITORS
KRAJOWA  IZBA  BIEGŁYCH  REWIDENTÓW
Quality Assurance
 



Quality Assurance
The National Supervisory Committee, one of KIBR bodies, is responsible for Quality Assurance. The National Assembly of Statutory Auditors appoints its members. The National Supervisory Committee oversees whether the statutory auditors and audit firms follow national professional standards and best professional practices with due care. The Committee is composed of five practitioners. The activities of the Committee are funded by the National Chamber of Statutory Auditors (KIBR).

The review process
The quality assurance system is a monitored "peer review" system. Supervision over inspections and inspectors are provided by members of the National Supervisory Committee and through appreciation of inspectors work provided by the National Supervisory Committee. The National Supervisory Committee selects the entities to be inspected on a periodic basis (every year). The selection methodology is - as for the basis - random. In cases where the National Supervisory Committee is informed about inappropriate professional conduct of statutory auditors and audit firms, a purpose-focused selection is possible.
The reviews are mainly focused on whether the auditors, when auditing financial statements, follow the national professional standards. Furthermore, the quality review comprises the assessment of the effectiveness of the audit firms’ internal quality control system. The Committee supervises the reviews and prepares internal procedures including the package of documents (work papers) for the reviewers.

The reviewers
Qualified auditors are responsible for the reviews. The inspectors are selected and appointed by the National Supervisory Committee from among current audit practitioners. Inspectors are required to complete a training before they start to perform their activities. While providing inspection activities, inspectors complete periodic trainings (minimum once a year). The Committee organises the training sessions on quality assurance systems twice per year.
Before starting inspection activities, the independence of the inspector is determined (independence declarations and control procedures). An inspector shall neither be a member of KIBR bodies nor work for the KIBR regional branch of which he is a member.

The review reporting process
The results of each review are presented in a final report. The final report issued by the reviewer is available to the statutory auditor or audit firm and to the Committee. The firm reviewed has the possibility to present its remarks and answers to the issues raised in that report. The Committee makes a decision within 30 days of the completion of the inspection. The decision may result in the conclusion that no further supervisory procedures are necessary (inspections without significant failures), or initiate proceedings in front of other KIBR bodies (disciplinary proceedings and removing from the register).