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Fourth Cycle Review Decision Tree

Understand the audit review process for firms and individual auditors, categorizing engagements into 3-year and 6-year cycles based on criteria. Discern the significance of engagement and firm reviews in fulfilling International Standards on Auditing and Quality Control, excluding non-attest practices.

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Fourth Cycle Review Decision Tree

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  1. Fourth Cycle Review Decision Tree Firm and Registered Auditor No audit opinions issued on audits of financial statements Audit opinions issued on audits of financial statements Individual Registered Auditors. Non attest. Excluded from Practice Review. Firms and individual Registered Auditors. Meet 3-year review cycle classification criteria. (Category A, B and C engagements) Individual Registered Auditors. Meet 6-year review cycle classification criteria. (Category C engagements only) Subject to satisfactory firm and engagement review in the 3-year cycle Subject to satisfactory engagement review in the 6-year cycle Engagement review = covers International Standards on Auditing Firm review = covers International Standards on Quality Control

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