On May 9, the PCAOB posted a new set of staff presentation videos created to assist firms in implementing four areas of their quality control (QC) system under QC 1000, A Firm’s System of Quality Control.
Headed by staff in the board’s Office of the Chief Auditor, these presentations are the latest in a series of videos to help firms with QC 1000's implementation.
The videos cover these topics:
•Roles and responsibilities – Explains the requirements on the assignment of roles and responsibilities within the firm’s QC system.
• Ethics and independence – Presents the firm and individual responsibilities that fall under ethics and independence requirements applicable for engagements that were done under PCAOB standards.
• People resources – Features the firm’s responsibilities when hiring people resources for the firm's QC system design, implementation and operation.
• Technological and intellectual resources – Focuses on the firm’s responsibilities when using technological and intellectual resources in the design, implementation and operation of its QC system.
On April 17, the board posted a new set of staff presentation videos made to assist firms in implementing four components under QC 1000.