An individual performing an Engagement Quality Review (EQR) role provides an objective evaluation of the significant judgements and conclusions reached on assurance engagements and the related report for these engagements cannot be issued until after the completion of the review. When an EQR is required as a result of a firm’s practice review, this individual must be first approved by the Director, Practice Review.
When a firm initially engages an EQR, they are required to obtain a signed EQR confirmation, a copy of which is submitted to CPABC. For each engagement subject to an EQR , the practitioner is required to submit a report to CPABC detailing the results of their review.
