ISQC 1: Firm Level Quality Control
Scope of this ISQC | 范围 This International Standard on Quality Control (ISQC) addresses a firm’s duties regarding its quality control system for audits and reviews of financial statements and other assurance and related services engagements. The ISQC 1 should be read in conjunction with any applicable ethical requirements. Additional standards and guidance on the […]
ISQC 1: Audit Firms must ensure that their Audits adhere to Quality Standards
The purpose of this is to reduce the RISKS of: 审计事务所必须确保他们的审计工作遵守质量标准，其目的是减少以下的风险： There are 2 Different Quality Control Standards 有两种不同的质量控制标准 [*] – However, effective 15 December 2022: [*] – 然而，即将在2022年12月15日生效:- ISQM 1 取代了 ISQC 1; ISA 220 财务报表审计的质量管理取代财务报表审计的质量控制 *Quick note to Audit Firms: Firms are recommended to research the requirements of the three new quality management […]
Accounting for the Liquidation of a Partnership
Liquidation of a Partnership 合伙企业的清算 The following actions must be taken to account for the dissolution of a partnership properly: 合伙企业若要妥善的解散，必须采取以下行动： Illustration 实例 As an illustration, let’s say a partnership has two partners, partner Chin and partner Tan. They share the partnership’s net revenue and losses proportionally (the Profit-Sharing Ratio is 1:1). Furthermore, their respective […]
