The Quality Assurance Department selects practices for review primarily based on risk factors including the public interest profile of audit clients. The selection of practices is identified from a review of practices' responses in the practice review self-assessment questionnaire and other relevant information. Practices with regulated or significant public interest entity clients (but not listed entities) are given priority for site visit reviews. A number of practices are selected for site visit reviews on a random basis to ensure that all practices will have a reasonable chance of being selected.
The site visit will normally be scheduled for six weeks after the formal notification. You should notify the Quality Assurance Department immediately if you consider the timing of the visit to be inconvenient. The Quality Assurance Department will try to accommodate requests for changes to visit dates with valid reasons and evidence of proof. However, the Quality Assurance Department will not be able to set aside significant periods of time during the year when no on-site review activities are taking place.
As a general policy, Quality Assurance Department will inform the practice of the engagements selected for practice review 7 working days prior to the commencement of the practice review site visit. The 7 working day notification period is conditional on the Quality Assurance Department receiving a client list from the practice no less than 3 weeks before the scheduled visit.
