Document ID: chunk:federal_register_of_legislation:F2025L00107:front:0:p69
Version: federal_register_of_legislation:F2025L00107
Segment Type: other
Provision Reference: 
Character Range: 229639–232960

of engagement team members) in accordance with professional standards or requirements and applicable legal and regulatory requirements.

           * Reviews being performed in accordance with the firm's policies or procedures and reviewing the engagement documentation on or before the date of the assurance report.

           * Appropriate engagement documentation being maintained to provide evidence of achievement of the practitioner's objectives, and that the engagement was performed in accordance with this ASSA and relevant legal and regulatory requirements.

           * Appropriate consultation being undertaken by the engagement team on difficult or contentious matters.

 1.          The engagement leader remains ultimately responsible, and therefore accountable, for compliance with the requirements of this ASSA. The term "the engagement leader shall take responsibility for…" is used for those requirements that the engagement leader is permitted to assign the design or performance of procedures, tasks or actions to appropriately skilled or suitably experienced members of the engagement team. For requirements in this ASSA that state "the engagement leader shall…", this ASSA expressly intends that the requirement or responsibility be fulfilled by the engagement leader. In such circumstances, the engagement leader may obtain information from the firm or other members of the engagement team in fulfilling the requirement.

 2.          ASQM 1 requires the firm to establish quality objectives that address the firm's governance and leadership that supports the design, implementation and operation of the system of quality management. The engagement leader's responsibility for managing and achieving quality is supported by a firm culture that demonstrates a commitment to quality. A culture that demonstrates a commitment to quality is further shaped and reinforced by the engagement team members as they demonstrate expected behaviours when performing the engagement.

 3.          The actions of the engagement leader, and appropriate messages to the other members of the engagement team, emphasise the fact that quality is essential in performing an assurance engagement, and the importance to the quality of the assurance engagement of:

         1.                 Performing work that complies with professional standards and relevant legal and regulatory requirements.

         2.                 Complying with the firm's policies or procedures as applicable.

         3.                 Issuing a report for the engagement that is appropriate in the circumstances.

         4.                 The engagement team's ability to raise concerns without fear of reprisals.

 4.          Being sufficiently and appropriately involved throughout the engagement when procedures, tasks or actions have been assigned to other members of the engagement team may be demonstrated by the engagement leader in different ways, including:

           * Informing assignees about the nature of their responsibilities and authority, the scope of the work being assigned and the objectives thereof; and to provide any other necessary instructions and relevant information.

           * Direction and supervision of the assignees.

           * Review of the assignees' work to evaluate the conclusions