Each of the following quality control policies and procedures is typical of ones that can be found in public accounting firms’ systems of quality control. Identify each of them with one of the six elements of quality control identified by SQCS 8. Assign management responsibilities in such a manner that commercial considerations do not override the quality of work performed. Establish policies and procedures for resolving differences of opinion among firm personnel that arise during professional engagements. Develop policies and procedures to ensure that professionals are provided appropriate professional development opportunities. Review engagement documentation, reports, and the client’s financial statements. Develop effective performance evaluation, compensation, and advancement procedures. Identify circumstances and relationships that create threats to independence and take appropriate action to eliminate those threats or reduce them to an acceptable level. Identify whether the firm possesses the competency, capability, and resources to appropriately serve a specific client. Devote sufficient resources to develop, communicate, and support the firm’s quality control procedures. Retain engagement documentation for a sufficient period of time to satisfy the needs of the firm, professional standards, laws, and regulations.

Quality Control Policies and Procedures and the Elements of Quality (SQCS 8):

1. Assign management responsibilities in such a manner that commercial considerations do not override the quality of work performed.

d. Human resources  

2. Establish policies and procedures for resolving differences of opinion among firm personnel that arise during professional engagements.

a. Leadership responsibilities for quality within the firm (the tone at the top)

3. Develop policies and procedures to ensure that professionals are provided appropriate professional development opportunities.

d. Human resources  

4. Review engagement documentation, reports, and the client’s financial statements.

f. Monitoring

5. Develop effective performance evaluation, compensation, and advancement procedures. Identify circumstances and relationships that create threats to independence and take appropriate action to eliminate those threats or reduce them to an acceptable level.

b. Relevant ethical requirements

6. Identify whether the firm possesses the competency, capability, and resources to appropriately serve a specific client.

c. Acceptance and continuance of client relationships and specific engagements

7. Devote sufficient resources to develop, communicate, and support the firm’s quality control procedures.

d. Human resources

8. Retain engagement documentation for a sufficient period of time to satisfy the needs of the firm, professional standards, laws, and regulations.

e. Engagement performance

Explanation:

According to SQCS 8, the firm must establish and maintain a system of quality control. The six elements of the system of quality control are:  

a. Leadership responsibilities for quality within the firm (the tone at the top)  

b. Relevant ethical requirements  

c. Acceptance and continuance of client relationships and specific engagements  

d. Human resources  

e. Engagement performance  

f. Monitoring

administrative jobs normally have someone answering phone calls and scheduling appointments, filing patient or customer information, making sure the front of the office looks nice to those who enter the building. administrative jobs can also include making sure the manager has everything they need for meetings, making delivers and much more. administrative jobs are important to most businesses as are customer service focused as they are often one of the first impressions a consumer sees of a business.