SA 220: Quality Control for an Audit of Financial Statements :

This Standard deals with the specific responsibilities of the auditor regarding quality control procedures for an
audit of financial statements. It also addresses, where applicable, the responsibilities of the engagement quality
control reviewer. It also deals with the aspects relating to leadership responsibilities for quality on audits, relevant ethical requirements, acceptance and continuance of client relationships and audit engagement, assignment of engagement teams, engagement performance, monitoring and documentation requirements. This standard prescribes that Quality control policies and procedures should be implemented at both level — of audit firm and on individual audits.