## SA 220: Engagement Partner's Responsibilities for EQCR

### When EQCR Applies

Mandatory: All audits of financial statements of listed entities
Also applies to other engagements where the firm determines EQCR is required

### Four Specific Duties of the Engagement Partner

1. Appoint: Determine that an engagement quality control reviewer has been appointed.

2. Discuss: Discuss significant matters arising during the audit — including those identified during EQCR — with the engagement quality control reviewer.

3. No early dating: Do not date the auditor's report until the completion of the EQCR.

4. Resolve disputes: Follow the firm's policies and procedures for dealing with and resolving differences of opinion — whether within the engagement team, with consultees, or between the engagement partner and the EQCR reviewer.

### Critical Rule: No Report Before Review

The auditor's report cannot be dated until the EQCR is complete. This ensures the objective review is genuinely completed before the audit opinion is issued — not a formality signed off after the fact.

Worked example

### Example 1

Q23 (MD 8 – 4 Marks): CA M is engagement partner for listed entity ABC Ltd. The firm has determined EQCR is required. Discuss CA M's responsibilities as engagement partner for EQCR per SA 220.

Answer: As per SA 220, for audits of listed entities (and other engagements where EQCR is required), CA M must:

1. Determine that an EQCR reviewer has been appointed.

2. Discuss significant matters (including those arising from EQCR) with the reviewer.

3. Not date the auditor's report until EQCR is complete.

4. Follow the firm's policies for resolving differences of opinion — whether these arise within the engagement team, with those consulted, or between CA M and the EQCR reviewer.

⚠️ Common exam mistakes

Forgetting the 'not date the report until EQCR is complete' rule — this is the most frequently tested and commonly missed point
Confusing EQCR reviewer's responsibilities with the engagement partner's responsibilities for EQCR
Omitting the dispute resolution requirement (following firm's policies for differences of opinion)

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

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SA 220 — Engagement Partner's Responsibilities for Engagement Quality Control Review (EQCR)

Worked example

⚠️ Common exam mistakes