HKSQM 1 - Quality Management for Firms

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INTRODUCTION

Scope of HKSQM 1

HKSQM 1 deals with a firm's responsibilities to design, implement and operate a system of quality management for:

Audits or reviews of financial statements
Other assurance or related services engagements

Key Points:

Engagement quality reviews form part of the firm's system of quality management
HKSQM 1 addresses the firm's responsibility to establish policies or procedures for engagements requiring engagement quality reviews
HKSQM 2 deals with appointment, eligibility, performance, and documentation of engagement quality reviews

Relationship with Other Pronouncements:

Other HKICPA pronouncements are premised on the basis that the firm is subject to HKSQMs or local requirements at least as demanding
HKSA 220 (Revised) deals with specific responsibilities of the auditor regarding quality management at the engagement level

Applicability:

Applies to ALL firms performing audits, reviews, assurance, or related services engagements
Must be read in conjunction with relevant ethical requirements
Law or regulation may establish additional responsibilities beyond HKSQM 1

The Firm's System of Quality Management

The system operates in a continual and iterative manner and is responsive to changes. It addresses eight components:

Component	Description
-----------	-------------
(a) The firm's risk assessment process	Establishes quality objectives, identifies and assesses quality risks
(b) Governance and leadership	Creates environment supporting quality management
(c) Relevant ethical requirements	Addresses fulfillment of ethical responsibilities
(d) Acceptance and continuance of client relationships	Determines appropriate client relationships
(e) Engagement performance	Ensures quality engagement execution
(f) Resources	Human, technological, intellectual resources
(g) Information and communication	Timely information exchange
(h) The monitoring and remediation process	Identifies and addresses deficiencies

Risk-Based Approach:

The firm must apply a risk-based approach through:

Establishing quality objectives - specified by HKSQM 1 and any additional necessary objectives
Identifying and assessing quality risks - to provide basis for responses
Designing and implementing responses - based on and responsive to quality risk assessments

Annual Evaluation:

At least annually, the individual(s) assigned ultimate responsibility evaluates the system and concludes whether it provides reasonable assurance that objectives are being achieved.

Scalability:

The design varies based on:

Nature and circumstances of the firm
Nature and circumstances of engagements performed

Networks and Service Providers:

The firm remains responsible for its system of quality management even when using network requirements/services or service providers

Authority of HKSQM 1

Paragraph 14 contains the objective. The standard contains:

Requirements designed to enable meeting the objective
Related guidance (application and other explanatory material)
Introductory material providing context
Definitions

Effective Date

Systems of quality management designed and implemented by 15 December 2022
Evaluation required within one year following 15 December 2022

OBJECTIVE

Paragraph 14: The objective is to design, implement, and operate a system of quality management that provides reasonable assurance that:

(a) The firm and its personnel fulfill their responsibilities in accordance with professional standards and applicable legal and regulatory requirements, and conduct engagements in accordance with such standards and requirements; and

(b) Engagement reports issued by the firm or engagement partners are appropriate in the circumstances.

Public Interest:

The consistent performance of quality engagements serves the public interest. Quality engagements are achieved through planning, performing, and reporting in accordance with professional standards, exercising professional judgment and, when applicable, professional skepticism.

DEFINITIONS

Term	Definition
------	------------
Deficiency	Exists when: (i) quality objective not established; (ii) quality risk not identified or properly assessed; (iii) response does not reduce risk to acceptably low level; (iv) other aspect absent or not properly designed/implemented/operating
Engagement documentation	Record of work performed, results obtained, and conclusions reached
Engagement partner	Partner or other individual responsible for engagement and its performance, and for the report issued on behalf of the firm
Engagement quality review	Objective evaluation of significant judgments and conclusions, performed by engagement quality reviewer, completed on or before date of engagement report
Engagement quality reviewer	Partner, other individual in firm, or external individual appointed to perform engagement quality review
Engagement team	All partners and staff performing the engagement, excluding external experts and internal auditors providing direct assistance
External inspections	Inspections or investigations by external oversight authority
Findings	Information about design, implementation, and operation of system accumulated from monitoring, external inspections, and other sources indicating deficiencies may exist
Firm	Sole practitioner, partnership, corporation, or other entity of professional accountants
Listed entity	Entity whose shares, stock, or debt are quoted or listed on a recognized stock exchange
Network firm	Firm or entity belonging to the firm's network
Network	Larger structure aimed at cooperation, clearly aimed at profit/cost-sharing or shares common ownership, control, management, quality policies, business strategy, brand name, or significant professional resources
Partner	Individual with authority to bind the firm regarding professional services engagement performance
Personnel	Partners and staff in the firm
Professional judgment	Application of relevant training, knowledge, and experience within professional standards context
Professional standards	Hong Kong Engagement Standards and relevant ethical requirements
Quality objectives	Desired outcomes in relation to system components
Quality risk	Risk with reasonable possibility of occurring and adversely affecting achievement of one or more quality objectives
Reasonable assurance	High, but not absolute, level of assurance
Relevant ethical requirements	Principles of professional ethics applicable to professional accountants, ordinarily comprising HKICPA Code of Ethics provisions
Response	Policies or procedures designed and implemented to address quality risk(s)
Service provider	Individual or organization external to firm providing resources used in system or engagement performance (excludes network, network firms, or network structures)
Staff	Professionals other than partners, including employed experts
System of quality management	System designed, implemented, and operated to provide reasonable assurance that firm/personnel fulfill responsibilities and engagement reports are appropriate

REQUIREMENTS

Applying and Complying with Relevant Requirements

Paragraph 17: The firm shall comply with each requirement unless not relevant due to nature and circumstances of the firm or its engagements.

Paragraph 18: The individual(s) assigned ultimate responsibility and accountability, and those assigned operational responsibility, shall have an understanding of HKSQM 1 including application material.

System of Quality Management

Paragraph 19: The firm shall design, implement, and operate a system of quality management, exercising professional judgment and considering the nature and circumstances of the firm and its engagements.

Responsibilities

Paragraph 20 - Assignment of Responsibilities:

Responsibility	Assigned To
----------------	-------------
Ultimate responsibility and accountability	CEO, managing partner, or managing board of partners
Operational responsibility for system	Designated individual(s)
Operational responsibility for independence compliance	Designated individual(s)
Operational responsibility for monitoring and remediation	Designated individual(s)

Paragraph 21 - Qualification Requirements:

The individual(s) must have:

Appropriate experience, knowledge, influence, and authority within the firm
Sufficient time to fulfill assigned responsibility
Understanding of their assigned roles and accountability

Paragraph 22 - Direct Line of Communication:

Individuals assigned operational responsibility for system, independence compliance, and monitoring/remediation must have direct line of communication to those with ultimate responsibility.

The Firm's Risk Assessment Process

Paragraph 23: The firm shall design and implement a risk assessment process to:

Establish quality objectives
Identify and assess quality risks
Design and implement responses

Paragraph 24 - Quality Objectives:

The firm shall establish:

Quality objectives specified by HKSQM 1
Any additional quality objectives considered necessary

Paragraph 25 - Identifying and Assessing Quality Risks:

The firm shall:

(a) Obtain an understanding of conditions, events, circumstances, actions or inactions that may adversely affect achievement of quality objectives, including:

(i) With respect to nature and circumstances of the firm:

- Complexity and operating characteristics

- Strategic and operational decisions, business processes, business model

- Characteristics and management style of leadership

- Resources (including service providers)

- Law, regulation, professional standards, environment

- Network requirements and services (if applicable)

(ii) With respect to nature and circumstances of engagements:

- Types of engagements and reports to be issued

- Types of entities for which engagements are undertaken

(b) Take into account how and the degree to which these may adversely affect achievement of quality objectives

Paragraph 26 - Designing and Implementing Responses:

The firm shall design and implement responses that are:

Based on and responsive to reasons for assessments given to quality risks
Include specified responses in paragraph 34

Paragraph 27 - Changes in Circumstances:

The firm shall establish policies or procedures to identify information indicating additional quality objectives, quality risks, or responses are needed due to changes. When identified, the firm shall consider and when appropriate:

Establish or modify additional quality objectives
Identify, modify, or reassess quality risks
Design additional or modify responses

Governance and Leadership

Paragraph 28 - Quality Objectives:

(a) The firm demonstrates a commitment to quality through a culture that:

- Recognizes the firm's role in serving public interest

- Reinforces importance of professional ethics, values, and attitudes

- Emphasizes responsibility of all personnel for quality

- Recognizes importance of quality in strategic decisions and actions

(b) Leadership is responsible and accountable for quality

(d) Organizational structure and assignment of roles, responsibilities, and authority is appropriate

(e) Resource needs are planned for and resources are obtained, allocated, or assigned consistent with commitment to quality

Relevant Ethical Requirements

Paragraph 29 - Quality Objectives:

(a) The firm and its personnel:

- Understand relevant ethical requirements

- Fulfill responsibilities in relation to relevant ethical requirements

(b) Others (network, network firms, individuals in network, service providers) who are subject to relevant ethical requirements:

- Understand relevant ethical requirements that apply to them

- Fulfill responsibilities in relation to relevant ethical requirements

Acceptance and Continuance of Client Relationships

Paragraph 30 - Quality Objectives:

(a) Judgments about whether to accept or continue are appropriate based on:

- Information about nature and circumstances of engagement and integrity/ethical values of client

- The firm's ability to perform engagement in accordance with professional standards and legal/regulatory requirements

(b) Financial and operational priorities do not lead to inappropriate judgments

Engagement Performance

Paragraph 31 - Quality Objectives:

(a) Engagement teams understand and fulfill responsibilities, including engagement partner's overall responsibility for managing and achieving quality

(b) Direction, supervision, and review is appropriate based on nature and circumstances of engagements and resources assigned

(d) Consultation on difficult or contentious matters is undertaken and conclusions implemented

(e) Differences of opinion are brought to attention of firm and resolved

(f) Engagement documentation is assembled on timely basis and appropriately maintained and retained

Resources

Paragraph 32 - Quality Objectives:

Human Resources:

(a) Personnel are hired, developed, and retained with competence and capabilities to consistently perform quality engagements or perform system activities

(b) Personnel demonstrate commitment to quality, develop/maintain competence, and are held accountable/recognized through evaluations, compensation, promotion, and incentives

(d) Engagement team members assigned have appropriate competence, capabilities, and sufficient time

(e) Individuals assigned to system activities have appropriate competence, capabilities, and sufficient time

Technological Resources:

(f) Appropriate technological resources are obtained/developed, implemented, maintained, and used

Intellectual Resources:

(g) Appropriate intellectual resources are obtained/developed, implemented, maintained, and used, consistent with professional standards

Service Providers:

(h) Resources from service providers are appropriate for use

Information and Communication

Paragraph 33 - Quality Objectives:

(a) Information system identifies, captures, processes, and maintains relevant and reliable information

(b) Culture recognizes and reinforces responsibility of personnel to exchange information

- Information communicated to personnel/engagement teams sufficient to understand and carry out responsibilities

- Personnel/engagement teams communicate information to firm

(d) Relevant and reliable information is communicated to external parties:

- Information communicated to network or service providers enabling them to fulfill responsibilities

- Information communicated externally when required by law, regulation, or professional standards

Specified Responses

Paragraph 34 - Required Responses:

(a) (i) Identifying, evaluating, and addressing threats to compliance with relevant ethical requirements

(ii) Identifying, communicating, evaluating, and reporting breaches of relevant ethical requirements and responding to causes and consequences

(b) Obtain at least annually documented confirmation of independence compliance from all personnel required to be independent

(c) Policies or procedures for receiving, investigating, and resolving complaints and allegations about failures to perform work in accordance with professional standards or non-compliance with firm's policies

(d) Policies or procedures addressing circumstances when:

(i) Firm becomes aware of information subsequent to acceptance/continuance that would have caused decline

(ii) Firm is obligated by law or regulation to accept

(e) Policies or procedures for:

(i) Communication with those charged with governance for listed entity audits about how system supports quality audit engagements

(ii) Addressing when otherwise appropriate to communicate with external parties about system

(iii) Addressing nature, timing, extent, and form of external communications

(f) Policies or procedures addressing engagement quality reviews in accordance with HKSQM 2, requiring engagement quality review for:

(i) Audits of financial statements of listed entities

(ii) Audits or engagements required by law or regulation

(iii) Audits or engagements for which firm determines engagement quality review is appropriate response

Monitoring and Remediation Process

Paragraph 35: The firm shall establish a monitoring and remediation process to:

Provide relevant, reliable, and timely information about design, implementation, and operation of system
Take appropriate actions to respond to identified deficiencies on timely basis

Designing and Performing Monitoring Activities

Paragraph 36: The firm shall design and perform monitoring activities to provide basis for identification of deficiencies.

Paragraph 37 - Factors for Determining Nature, Timing, and Extent:

Reasons for assessments given to quality risks
Design of responses
Design of risk assessment process and monitoring/remediation process
Changes in system of quality management
Results of previous monitoring activities
Other relevant information (complaints, external inspections, service provider information)

Paragraph 38 - Inspection of Completed Engagements:

The firm shall:

Take into account matters in paragraph 37
Consider nature, timing, and extent of other monitoring activities
Select at least one completed engagement for each engagement partner on cyclical basis

Paragraph 39 - Competence and Objectivity:

Individuals performing monitoring activities must have competence, capabilities, and sufficient time
Policies or procedures shall address objectivity
Engagement team members or engagement quality reviewer shall not perform inspection of that engagement

Evaluating Findings and Identifying Deficiencies

Paragraph 40: The firm shall evaluate findings to determine whether deficiencies exist.

Evaluating Identified Deficiencies

Paragraph 41: The firm shall evaluate severity and pervasiveness by:

Investigating root cause(s) of identified deficiencies
Evaluating effect of identified deficiencies individually and in aggregate

Responding to Identified Deficiencies

Paragraph 42: The firm shall design and implement remedial actions responsive to root cause analysis results.

Paragraph 43: The individual(s) assigned operational responsibility for monitoring and remediation shall evaluate whether remedial actions:

Are appropriately designed and implemented
Implemented to address previously identified deficiencies are effective

Paragraph 44: If evaluation indicates remedial actions are not appropriately designed, implemented, or effective, take appropriate action to modify.

Findings About a Particular Engagement

Paragraph 45: When findings indicate procedures were omitted or report may be inappropriate:

Take appropriate action to comply with professional standards and legal/regulatory requirements
When report considered inappropriate, consider implications and take appropriate action including legal advice

Ongoing Communication Related to Monitoring and Remediation

Paragraph 46: The individual(s) assigned operational responsibility shall communicate on timely basis to those with ultimate responsibility and operational responsibility:

Description of monitoring activities performed
Identified deficiencies including severity and pervasiveness
Remedial actions to address identified deficiencies

Paragraph 47: The firm shall communicate matters in paragraph 46 to engagement teams and other individuals to enable prompt and appropriate action.

Network Requirements or Network Services

Paragraph 48: When the firm belongs to a network, the firm shall understand:

Network requirements regarding system of quality management
Network services or resources the firm chooses to use
Firm's responsibilities for implementing network requirements or using network services

The firm remains responsible for its system of quality management and shall not allow compliance with network requirements or use of network services to contravene HKSQM 1 requirements.

Paragraph 49: Based on understanding obtained:

Determine how network requirements/services are relevant and taken into account
Evaluate whether and how network requirements/services need to be adapted or supplemented

Paragraph 50 - Monitoring Activities by Network:

When network performs monitoring activities:

Determine effect on firm's monitoring activities
Determine firm's responsibilities
Obtain results from network in timely manner

Paragraph 51 - Monitoring Activities Across Network Firms:

The firm shall:

Understand overall scope of network's monitoring activities across network firms
At least annually, obtain information about overall results and communicate to engagement teams and consider effect on system

Paragraph 52 - Deficiencies in Network Requirements/Services:

If firm identifies deficiency:

Communicate to network relevant information
Design and implement remedial actions to address effect

Evaluating the System of Quality Management

Paragraph 53: The individual(s) assigned ultimate responsibility shall evaluate the system at least annually as at a point in time.

Paragraph 54 - Conclusion Options:

(a) The system provides reasonable assurance that objectives are being achieved

(b) Except for matters related to identified deficiencies that have severe but not pervasive effect, the system provides reasonable assurance

Paragraph 55 - Actions When Conclusion is (b) or (c):

Take prompt and appropriate action
Communicate to engagement teams and other individuals
Communicate to external parties in accordance with paragraph 34(e)

Paragraph 56 - Performance Evaluations:

The firm shall undertake periodic performance evaluations of:

Individual(s) assigned ultimate responsibility
Individual(s) assigned operational responsibility

Taking into account the evaluation of the system of quality management.

Documentation

Paragraph 57: The firm shall prepare documentation sufficient to:

Support consistent understanding of system by personnel
Support consistent implementation and operation of responses
Provide evidence of design, implementation, and operation to support evaluation

Paragraph 58 - Content of Documentation:

(a) Identification of individuals assigned ultimate and operational responsibility

(b) Quality objectives and quality risks

(d) Regarding monitoring and remediation:

(i) Evidence of monitoring activities performed

(ii) Evaluation of findings, identified deficiencies, and root cause(s)

(iii) Remedial actions and evaluation of design and implementation

(iv) Communications about monitoring and remediation

(e) Basis for conclusion reached pursuant to paragraph 54

Paragraph 59: Document matters related to network requirements/services and evaluation thereof.

Paragraph 60: Establish retention period sufficient to enable monitoring, or longer if required by law or regulation.

APPLICATION AND OTHER EXPLANATORY MATERIAL - KEY POINTS

Scope (A1-A2)

Other HKICPA pronouncements (HKSRE 2400, HKSAE 3000) establish requirements for engagement partner
The Code enables professional accountants to meet responsibility to act in public interest

System of Quality Management (A3-A5)

Different terminology or frameworks may be used for components
Components are interconnected (examples provided)
Reasonable assurance is obtained when system reduces risk to acceptably low level
Inherent limitations exist (faulty human judgment, breakdowns, human error, IT failures)

Authority (A6-A9)

Objective provides context for requirements
"Shall" expresses requirements
Application material provides explanation and guidance but does not impose requirements
Definitions assist consistent application

Definitions (A10-A28)

Deficiency may arise from finding or combination of findings
Other aspects include assigning responsibilities, risk assessment process, monitoring/remediation, evaluation
Networks may be structured in various ways
Service providers include component auditors from other firms not within network

Applying and Complying (A29)

Examples of when requirements may not be relevant: sole practitioner, firm only performing related services

System Design (A30-A38)

Quality management is integration of culture with strategy, operations, and business processes
Professional judgment enhanced when individuals demonstrate inquiring mind
Firm remains ultimately responsible for system
Individual assigned responsibility is typically a partner

Risk Assessment Process (A39-A54)

Process may be centralized or decentralized
Process is iterative
Information sources include monitoring results, network information, complaints, external inspections, regulatory information
Quality risks assessment need not comprise formal ratings or scores
Responses may operate at firm level or engagement level

Governance and Leadership (A55-A61)

Culture influences behavior of personnel
Professional values include timeliness, teamwork, open-mindedness, pursuit of excellence, continual improvement
Strategic decisions include financial goals, market share, industry specialization
Leadership establishes tone at top through actions and behaviors

Relevant Ethical Requirements (A62-A66)

Fundamental principles: integrity, objectivity, professional competence and due care, confidentiality, professional behavior
Firm may establish more specific or additional requirements
Other components affect or relate to ethical requirements component

Acceptance and Continuance (A67-A74)

Information may include industry, regulatory factors, entity nature, underlying subject matter
Factors affecting integrity/ethical values: ownership complexity, business practices, attitude toward accounting standards, fee concerns, scope limitations
Sources include current/previous engagements, inquiry of providers, third parties, database searches
Financial priorities may affect acceptance decisions

Engagement Performance (A75-A85)

Direction and supervision includes tracking progress, considering understanding of instructions, addressing matters arising
Review includes considering whether work performed in accordance with policies, significant matters raised, consultations undertaken
Professional skepticism supports quality of judgments
Consultation involves discussion with individuals with specialized expertise
Assembly of final engagement files ordinarily not more than 60 days after report date
Retention period ordinarily no shorter than five years

Resources (A86-A108)

Resources include human, technological, intellectual, and financial
Competence integrates technical competence, professional skills, ethics, values, and attitudes
Policies may address recruiting, training, evaluation, compensation, promotion
Positive actions recognized through compensation, promotion, or other incentives
Negative actions addressed through training, evaluation effects, disciplinary action

Information and Communication (A109-A115)

Information system supports system of quality management
Culture reinforces responsibility to exchange information
Communication to external parties when required by law, regulation, or professional standards

Specified Responses (A116-A137)

Threats to ethical requirements must be identified, evaluated, and addressed
Breaches must be identified, communicated, evaluated, and reported
Documented independence confirmation obtained at least annually
Complaints and allegations policies must be established
Engagement quality reviews required for listed entity audits and other specified engagements

Monitoring and Remediation (A138-A174)

Monitoring activities provide basis for identifying deficiencies
Root cause analysis investigates underlying causes
Remedial actions must be responsive to root cause analysis
Findings about specific engagements require appropriate action

Network Requirements (A175-A186)

Firm must understand network requirements and services
Firm remains responsible for its system
Network requirements may need adaptation or supplementation
Deficiencies in network requirements must be communicated to network

Evaluation (A187-A201)

Evaluation undertaken as at a point in time, at least annually
Three possible conclusions
Severe but not pervasive deficiencies result in modified conclusion
Prompt action required when system does not provide reasonable assurance

Documentation (A202-A206)

Documentation supports consistent understanding
Includes identification of responsible individuals, quality objectives, risks, responses
Monitoring and remediation documentation required
Retention period sufficient to enable monitoring

KEY TAKEAWAYS SUMMARY

Area	Key Requirements
------	------------------
Objective	Reasonable assurance that firm/personnel fulfill responsibilities and engagement reports are appropriate
Components	8 components: risk assessment, governance, ethics, acceptance/continuance, engagement performance, resources, information/communication, monitoring/remediation
Risk-Based Approach	Establish quality objectives → Identify/assess quality risks → Design/implement responses
Leadership	Ultimate responsibility assigned to CEO/managing partner; operational responsibility assigned to designated individuals
Ethics	Understand and fulfill relevant ethical requirements; annual independence confirmation
Monitoring	At least one completed engagement per partner on cyclical basis; root cause analysis for deficiencies
Evaluation	Annual evaluation by individual with ultimate responsibility; three possible conclusions
Documentation	Sufficient to support understanding, implementation, and evaluation
Networks	Firm remains responsible; must understand and evaluate network requirements/services
Effective Date	Designed and implemented by 15 December 2022; evaluation within one year

50 MULTIPLE CHOICE QUESTIONS

Q1. According to HKSQM 1, what is the objective of the firm's system of quality management?

A. To ensure all engagements are profitable

B. To provide reasonable assurance that the firm fulfills responsibilities and engagement reports are appropriate

C. To guarantee no errors occur in any engagement

D. To maximize the firm's market share

Answer: B

Q2. How many components does the system of quality management address?

A. Six

B. Seven

C. Eight

D. Ten

Answer: C

Q3. What is the effective date for designing and implementing systems of quality management in compliance with HKSQM 1?

A. 15 December 2021

B. 15 December 2022

C. 15 December 2023

D. 15 December 2024

Answer: B

Q4. Who shall be assigned ultimate responsibility and accountability for the system of quality management?

A. The engagement partner

B. The chief executive officer or managing partner

C. The audit committee

D. The external regulator

Answer: B

Q5. What is a "quality risk" as defined in HKSQM 1?

A. Any risk that could affect the firm's profitability

B. A risk that has a reasonable possibility of occurring and adversely affecting achievement of one or more quality objectives

C. A risk that has already materialized

D. A risk related only to listed entities

Answer: B

Q6. Which of the following is NOT one of the eight components of the system of quality management?

A. Governance and leadership

B. Financial reporting

C. Resources

D. Information and communication

Answer: B

Q7. What does "reasonable assurance" mean in the context of HKSQM 1?

A. Absolute assurance

B. High, but not absolute, level of assurance

C. Moderate level of assurance

D. Low level of assurance

Answer: B

Q8. When shall the evaluation of the system of quality management be performed?

A. Every five years

B. At least annually

C. Only when deficiencies are identified

D. Every three years

Answer: B

Q9. What is a "deficiency" in the firm's system of quality management?

A. Only when a quality objective is not established

B. Only when a response is not operating effectively

C. When a quality objective is not established, quality risk not properly assessed, response not effective, or other aspect absent or not properly designed

D. Only when external inspections identify problems

Answer: C

Q10. According to HKSQM 1, what must the firm obtain at least annually from all personnel required to be independent?

A. A performance evaluation

B. A documented confirmation of compliance with independence requirements

C. A training certificate

D. A confidentiality agreement

Answer: B

Q11. Which of the following is NOT a quality objective under governance and leadership?

A. The firm demonstrates commitment to quality through culture

B. Leadership is responsible and accountable for quality

C. The firm maximizes shareholder value

D. Organizational structure is appropriate

Answer: C

Q12. What must the firm do when it identifies a deficiency in network requirements or network services?

A. Ignore it

B. Communicate to the network and design remedial actions

C. Terminate the network relationship

D. Report to the regulator

Answer: B

Q13. How many completed engagements must be selected for each engagement partner on a cyclical basis for inspection?

A. At least two

B. At least one

C. At least three

D. All engagements

Answer: B

Q14. What is the role of the engagement quality reviewer?

A. To perform the entire engagement

B. To provide objective evaluation of significant judgments and conclusions

C. To supervise the engagement team

D. To approve the engagement fee

Answer: B

Q15. Which of the following is NOT included in the definition of "engagement team"?

A. Partners performing the engagement

B. Staff performing the engagement

C. External experts

D. Other individuals who perform procedures on the engagement

Answer: C

Q16. What must the firm establish policies or procedures for regarding complaints and allegations?

A. Ignoring them

B. Receiving, investigating, and resolving them

C. Only receiving them

D. Reporting them to the police

Answer: B

Q17. What is the purpose of the firm's risk assessment process?

A. To assess the firm's financial risks

B. To establish quality objectives, identify and assess quality risks, and design and implement responses

C. To evaluate client creditworthiness

D. To determine engagement fees

Answer: B

Q18. What must the firm do when findings indicate that procedures were omitted during an engagement or the report may be inappropriate?

A. Ignore the findings

B. Take appropriate action to comply with professional standards and consider implications

C. Only document the findings

D. Wait for the next inspection

Answer: B

Q19. Which of the following is a quality objective under relevant ethical requirements?

A. The firm maximizes profits

B. The firm and its personnel understand and fulfill responsibilities in relation to relevant ethical requirements

C. The firm minimizes costs

D. The firm expands its client base

Answer: B

Q20. What is the definition of "network" in HKSQM 1?

A. Any group of firms

B. A larger structure aimed at cooperation and clearly aimed at profit/cost-sharing or shares common ownership, control, management, quality policies, business strategy, brand name, or significant professional resources

C. A group of clients

D. A professional association

Answer: B

Q21. What must the firm document regarding its system of quality management?

A. Only the quality objectives

B. Only the quality risks

C. Quality objectives, quality risks, responses, monitoring activities, and basis for conclusion

D. Only the monitoring activities

Answer: C

Q22. What is the retention period for engagement documentation under HKSAs?

A. At least one year

B. At least three years

C. Ordinarily no shorter than five years

D. At least ten years

Answer: C

Q23. What must the firm do when it becomes aware of information after accepting a client that would have caused it to decline the engagement?

A. Continue the engagement regardless

B. Address the circumstances through policies or procedures

C. Ignore the information

D. Only document the information

Answer: B

Q24. What is the time limit for completing assembly of final engagement files under HKSAs?

A. 30 days after report date

B. 60 days after report date

C. 90 days after report date

D. 120 days after report date

Answer: B

Q25. Which of the following is NOT a quality objective under engagement performance?

A. Engagement teams understand and fulfill responsibilities

B. Direction, supervision, and review is appropriate

C. Engagement fees are maximized

D. Consultation on difficult matters is undertaken

Answer: C

Q26. What must the firm do regarding the individual(s) assigned ultimate responsibility and operational responsibility for the system?

A. Only appoint them

B. Undertake periodic performance evaluations taking into account the evaluation of the system

C. Replace them annually

D. Only document their names

Answer: B

Q27. What is the definition of "service provider" in HKSQM 1?

A. Any employee of the firm

B. An individual or organization external to the firm providing resources used in the system or engagement performance (excluding network)

C. A network firm

D. A client

Answer: B

Q28. What must the firm do regarding changes in the nature and circumstances of the firm or its engagements?

A. Ignore changes

B. Establish policies to identify information indicating additional quality objectives, risks, or responses are needed

C. Only document changes

D. Wait for annual evaluation

Answer: B

Q29. Which of the following is a specified response required by paragraph 34?

A. Maximizing firm profits

B. Identifying, evaluating, and addressing threats to compliance with relevant ethical requirements

C. Minimizing engagement costs

D. Expanding the firm's client base

Answer: B

Q30. What is the definition of "professional judgment" in HKSQM 1?

A. Any decision made by a professional

B. Application of relevant training, knowledge, and experience within professional standards context in making informed decisions

C. The opinion of the engagement partner

D. The client's preferences

Answer: B

Q31. What must the firm do when it belongs to a network?

A. Comply with all network requirements without question

B. Understand network requirements, services, and responsibilities, and determine how they are relevant and need adaptation

C. Ignore network requirements

D. Only use network services

Answer: B

Q32. What is the purpose of the monitoring and remediation process?

A. To monitor client satisfaction

B. To provide information about the system and take appropriate actions to respond to deficiencies

C. To monitor firm profitability

D. To monitor employee performance

Answer: B

Q33. Which of the following is NOT a factor in determining the nature, timing, and extent of monitoring activities?

A. Reasons for assessments given to quality risks

B. Design of responses

C. Client preferences

D. Results of previous monitoring activities

Answer: C

Q34. What must the firm do regarding engagement quality reviews?

A. Perform them for all engagements

B. Establish policies requiring them for listed entity audits and other specified engagements

C. Only perform them for review engagements

D. Never perform them

Answer: B

Q35. What is the definition of "findings" in relation to a system of quality management?

A. Only positive outcomes

B. Information accumulated from monitoring, external inspections, and other sources indicating deficiencies may exist

C. Only external inspection results

D. Client feedback

Answer: B

Q36. What must the firm do when the evaluation conclusion is that the system does not provide reasonable assurance?

A. Continue operations as usual

B. Take prompt and appropriate action and communicate to engagement teams and external parties

C. Only document the conclusion

D. Wait for the next evaluation

Answer: B

Q37. Which of the following is a quality objective under resources?

A. Maximizing resource utilization

B. Personnel are hired, developed, and retained with appropriate competence and capabilities

C. Minimizing resource costs

D. Outsourcing all resources

Answer: B

Q38. What must the firm do regarding differences of opinion within the engagement team?

A. Ignore them

B. Ensure they are brought to attention of firm and resolved

C. Only document them

D. Let the engagement partner decide alone

Answer: B

Q39. What is the definition of "relevant ethical requirements"?

A. Only the HKICPA Code of Ethics

B. Principles of professional ethics applicable to professional accountants, ordinarily comprising HKICPA Code provisions together with more restrictive local requirements

C. Only local laws

D. Only international standards

Answer: B

Q40. What must the firm do regarding communication with those charged with governance for listed entity audits?

A. Communicate only about fees

B. Communicate about how the system of quality management supports quality audit engagements

C. Communicate only about audit results

D. No communication required

Answer: B

Q41. What is the definition of "response" in relation to a system of quality management?

A. Only written policies

B. Policies or procedures designed and implemented to address one or more quality risks

C. Only verbal instructions

D. Client feedback

Answer: B

Q42. What must the firm do regarding the objectivity of individuals performing monitoring activities?

A. No requirements

B. Prohibit engagement team members or engagement quality reviewer from performing inspection of that engagement

C. Allow anyone to perform monitoring

D. Only require competence

Answer: B

Q43. Which of the following is a quality objective under information and communication?

A. Maximizing information volume

B. The information system identifies, captures, processes, and maintains relevant and reliable information

C. Minimizing communication

D. Only communicating with clients

Answer: B

Q44. What must the firm do regarding root cause analysis of identified deficiencies?

A. Not required

B. Investigate root cause(s) taking into account nature of deficiencies and possible severity

C. Only document deficiencies

D. Ignore root causes

Answer: B

Q45. What is the definition of "listed entity"?

A. Any company

B. Entity whose shares, stock, or debt are quoted or listed on a recognized stock exchange

C. Only public sector entities

D. Only private companies

Answer: B

Q46. What must the firm do regarding the assembly of engagement documentation?

A. Assemble within 30 days

B. Assemble on timely basis after date of engagement report

C. Assemble before the engagement

D. No requirement

Answer: B

Q47. What is the definition of "personnel" in HKSQM 1?

A. Only partners

B. Partners and staff in the firm

C. Only employees

D. Only management

Answer: B

Q48. What must the firm do regarding the individual(s) assigned operational responsibility for the system of quality management?

A. Only appoint them

B. Ensure they have direct line of communication to those with ultimate responsibility

C. Replace them annually

D. No requirements

Answer: B

Q49. Which of the following is NOT a quality objective under acceptance and continuance of client relationships?

A. Judgments about acceptance/continuance are appropriate based on sufficient information

B. Financial and operational priorities do not lead to inappropriate judgments

C. Maximizing the number of clients

D. The firm's ability to perform the engagement

Answer: C

Q50. What is the purpose of the documentation requirements in HKSQM 1?

A. To satisfy regulatory requirements only

B. To support consistent understanding, implementation, and operation of responses, and provide evidence for evaluation

C. To document all client communications

D. To record all financial transactions

Answer: B

HKSQM 1 - 品質管理

綜合學習筆記

引言

HKSQM 1 的範圍

HKSQM 1 處理事務所在以下方面的責任，以設計、實施和運作品質管理系統：

財務報表的審計或審閱
其他保證或相關服務業務

關鍵要點：

業務品質檢討構成事務所品質管理系統的一部分
HKSQM 1 處理事務所就須進行業務品質檢討的業務制定政策或程序的責任
HKSQM 2 處理業務品質檢討人員的委任和資格，以及業務品質檢討的執行和記錄

與其他公告的關係：

其他香港會計師公會公告的前提是事務所受 HKSQM 或至少同樣嚴格的當地要求所規限
經修訂的 HKSA 220 處理核數師在業務層面有關品質管理的具體責任

適用性：

適用於所有執行審計、審閱、保證或相關服務業務的事務所
須與相關道德要求一併閱讀
法律或法規可能訂立超出 HKSQM 1 的額外責任

事務所的品質管理系統

該系統以持續和反覆的方式運作，並對變化作出回應。它涵蓋八個組成部分：

組成部分	描述
-----------	-------------
(a) 事務所的風險評估過程	制定品質目標，識別和評估品質風險
(b) 治理和領導層	創造支持品質管理的環境
(c) 相關道德要求	處理道德責任的履行
(d) 客戶關係和具體業務的接受與續任	確定適當的客戶關係
(e) 業務執行	確保優質業務執行
(f) 資源	人力、技術、智力資源
(g) 資訊與溝通	及時的資訊交流
(h) 監控和補救過程	識別和處理缺陷

基於風險的方法：

事務所必須通過以下方式應用基於風險的方法：

制定品質目標 - HKSQM 1 指定的以及任何必要的額外目標
識別和評估品質風險 - 為回應提供基礎
設計和實施回應 - 基於並回應品質風險評估

年度評估：

至少每年，被指派最終責任的人員評估系統並得出結論，確定系統是否提供合理保證以實現目標。

可擴展性：

設計因以下因素而異：

事務所的性質和情況
所執行業務的性質和情況

網絡和服務提供者：

即使使用網絡要求/服務或服務提供者，事務所仍對其品質管理系統負責

HKSQM 1 的權威性

第14段包含目標。該準則包含：

旨在使事務所能夠實現目標的要求
相關指引（應用和其他解釋性材料）
提供背景的引言材料
定義

生效日期

品質管理系統須於 2022年12月15日 前設計和實施
須在 2022年12月15日 後一年內進行評估

目標

第14段： 目標是設計、實施和運作品質管理系統，以提供合理保證：

(a) 事務所及其人員按照專業標準和適用的法律法規要求履行其責任，並按照該等標準和要求進行業務；及

(b) 事務所或業務合夥人發出的業務報告在當時情況下是適當的。

公共利益：

持續執行優質業務符合公共利益。優質業務是通過按照專業標準規劃和執行業務以及出具報告來實現的，並在適用時運用專業判斷和專業懷疑態度。

定義

術語	定義
------	------------
缺陷	當以下情況存在時：(i) 未制定品質目標；(ii) 未識別或適當評估品質風險；(iii) 回應未能將風險降低至可接受的低水平；(iv) 其他方面缺失或未適當設計/實施/運作
業務記錄	所執行工作、所獲得結果和從業員所達結論的記錄
業務合夥人	由事務所指派，負責業務及其執行，以及代表事務所發出報告的合夥人或其他個人
業務品質檢討	對業務團隊作出的重大判斷和所達結論進行的客觀評估，由業務品質檢討人員執行，並在業務報告日期或之前完成
業務品質檢討人員	由事務所指派執行業務品質檢討的合夥人、事務所內其他個人或外部個人
業務團隊	執行業務的所有合夥人和員工，以及執行業務程序的任何其他個人，不包括外部專家和提供直接協助的內部核數師
外部檢查	由外部監督機構進行的與事務所品質管理系統或所執行業務有關的檢查或調查
發現	從監控活動、外部檢查和其他相關來源累積的關於系統設計、實施和運作的資訊，表明可能存在一項或多項缺陷
事務所	專業會計師的獨營執業者、合夥企業或公司或其他實體
上市實體	其股份、股票或債務在認可證券交易所報價或上市，或根據認可證券交易所或其他同等機構的規例進行市場推廣的實體
網絡事務所	屬於事務所網絡的事務所或實體
網絡	旨在合作且明確旨在分攤利潤或成本，或共享共同所有權、控制權或管理層、共同品質管理政策或程序、共同業務策略、使用共同品牌名稱或重大部分專業資源的較大架構
合夥人	有權就專業服務業務的執行約束事務所的任何個人
人員	事務所內的合夥人和員工
專業判斷	在專業標準的背景下，應用相關培訓、知識和經驗，就設計、實施和運作事務所品質管理系統時適當的行動方案作出知情決定
專業標準	香港業務準則和相關道德要求
品質目標	與品質管理系統組成部分相關的預期成果，由事務所實現
品質風險	有合理可能性發生並個別或與其他風險結合對一項或多項品質目標的實現產生不利影響的風險
合理保證	高水平但非絕對的保證水平
相關道德要求	適用於專業會計師的職業道德原則和道德要求，通常包括香港會計師公會道德守則的規定
回應	事務所為處理一項或多項品質風險而設計和實施的政策或程序
服務提供者	在品質管理系統或業務執行中提供資源的外部個人或組織（不包括事務所的網絡、其他網絡事務所或網絡中的其他架構或組織）
員工	合夥人以外的專業人員，包括事務所僱用的任何專家
品質管理系統	為向事務所提供合理保證而設計、實施和運作的系統，以確保事務所及其人員履行責任且業務報告適當

要求

應用和遵守相關要求

第17段： 事務所應遵守本 HKSQM 的每項要求，除非該要求因事務所或其業務的性質和情況而不相關。

第18段： 被指派最終責任和問責性的人員以及被指派運作責任的人員應理解 HKSQM 1，包括應用材料。

品質管理系統

第19段： 事務所應設計、實施和運作品質管理系統，運用專業判斷並考慮事務所及其業務的性質和情況。

責任

第20段 - 責任的指派：

責任	指派給
----------------	-------------
最終責任和問責性	行政總裁、管理合夥人或管理合夥人委員會
系統的運作責任	指定人員
獨立性合規的運作責任	指定人員
監控和補救的運作責任	指定人員

第21段 - 資格要求：

該人員必須：

在事務所內具有適當的經驗、知識、影響力和權力
有足夠時間履行所指派的責任
理解其指派角色和問責性

第22段 - 直接溝通渠道：

被指派系統、獨立性合規和監控/補救運作責任的人員必須與具有最終責任的人員有直接溝通渠道。

事務所的風險評估過程

第23段： 事務所應設計和實施風險評估過程，以：

制定品質目標
識別和評估品質風險
設計和實施回應

第24段 - 品質目標：

事務所應制定：

HKSQM 1 指定的品質目標
任何被認為必要的額外品質目標

第25段 - 識別和評估品質風險：

事務所應：

(a) 了解可能對實現品質目標產生不利影響的條件、事件、情況、行動或不作為，包括：

(i) 關於事務所的性質和情況：

- 複雜性和運作特點

- 戰略和運營決策、業務流程、業務模式

- 領導層的特點和管理風格

- 資源（包括服務提供者）

- 法律、法規、專業標準和環境

- 網絡要求和服務（如適用）

(ii) 關於所執行業務的性質和情況：

- 所執行業務的類型和將發出的報告

- 為其進行業務的實體類型

(b) 考慮這些因素可能如何以及在多大程度上對實現品質目標產生不利影響

第26段 - 設計和實施回應：

事務所應設計和實施回應，這些回應：

基於並回應對品質風險所作評估的原因
包括第34段中指定的回應

第27段 - 情況變化：

事務所應制定政策或程序，以識別表明因變化而需要額外品質目標、品質風險或回應的資訊。當識別到時，事務所應考慮並在適當情況下：

制定或修改額外品質目標
識別、修改或重新評估品質風險
設計額外或修改回應

治理和領導層

第28段 - 品質目標：

(a) 事務所通過文化展示對品質的承諾：

- 認識事務所在服務公共利益方面的角色

- 強調職業道德、價值觀和態度的重要性

- 強調所有人員對品質的責任

- 認識品質在戰略決策和行動中的重要性

(b) 領導層對品質負責和問責

(d) 組織結構和角色、責任及權力的指派是適當的

(e) 資源需求已規劃，資源的獲取、分配或指派與對品質的承諾一致

客戶關係和具體業務的接受與續任

第30段 - 品質目標：

(a) 關於是否接受或續任的判斷是適當的，基於：

- 關於業務性質和情況以及客戶誠信/道德價值的資訊

- 事務所按照專業標準和法律法規要求執行業務的能力

(b) 財務和運營優先事項不會導致不適當的判斷

業務執行

第31段 - 品質目標：

(a) 業務團隊理解並履行責任，包括業務合夥人管理和實現品質的整體責任

(b) 指導、監督和檢討基於業務的性質和情況以及所分配資源是適當的

(d) 就困難或有爭議的事項進行諮詢，並實施所同意的結論

(e) 意見分歧提請事務所注意並解決

(f) 業務記錄在業務報告日期後及時整理，並適當維護和保存

資源

第32段 - 品質目標：

人力資源：

(a) 人員被招聘、培養和留任，具有勝任能力和能力以持續執行優質業務或執行系統活動

(b) 人員展示對品質的承諾，發展/維持勝任能力，並通過評估、薪酬、晉升和其他激勵措施被問責或認可

(d) 分配給每個業務的業務團隊成員具有適當的勝任能力、能力和足夠時間

(e) 分配執行系統活動的個人具有適當的勝任能力、能力和足夠時間

技術資源：

(f) 獲取或開發、實施、維護和使用適當的技術資源

智力資源：

(g) 獲取或開發、實施、維護和使用適當的智力資源，與專業標準一致

服務提供者：

(h) 來自服務提供者的資源適合使用

資訊與溝通

第33段 - 品質目標：

(a) 資訊系統識別、獲取、處理和維護相關和可靠的資訊

(b) 文化認識並強化人員交流資訊的責任

- 向人員/業務團隊傳達的資訊足以使其理解和執行責任

- 人員/業務團隊在執行系統活動或業務時向事務所傳達資訊

(d) 相關和可靠的資訊向外部各方傳達：

- 向網絡或服務提供者傳達資訊，使其能夠履行責任

- 當法律、法規或專業標準要求時，向外部傳達資訊

指定回應

第34段 - 要求的回應：

(a) (i) 識別、評估和處理對遵守相關道德要求的威脅

(ii) 識別、溝通、評估和報告相關道德要求的違反情況，並回應原因和後果

(b) 至少每年從所有需要保持獨立的人員獲得獨立性合規的書面確認

(d) 處理以下情況的政策或程序：

(i) 事務所在接受/續任後獲知如事先知悉會導致拒絕的資訊

(ii) 法律或法規強制事務所接受

(e) 關於以下方面的政策或程序：

(i) 就上市實體審計向治理層溝通系統如何支持優質審計業務

(ii) 處理何時適合與外部各方溝通系統

(iii) 處理外部溝通的性質、時間、範圍和形式

(f) 按照 HKSQM 2 處理業務品質檢討的政策或程序，要求對以下業務進行業務品質檢討：

(i) 上市實體的財務報表審計

(ii) 法律或法規要求的審計或業務

(iii) 事務所確定業務品質檢討是適當回應的審計或業務

監控和補救過程

第35段： 事務所應建立監控和補救過程，以：

提供關於系統設計、實施和運作的相關、可靠和及時的資訊
採取適當行動及時回應已識別的缺陷

設計和執行監控活動

第36段： 事務所應設計和執行監控活動，以為識別缺陷提供基礎。

第37段 - 確定性質、時間和範圍的因素：

對品質風險所作評估的原因
回應的設計
風險評估過程和監控/補救過程的設計
品質管理系統的變化
先前監控活動的結果
其他相關資訊（投訴、外部檢查、服務提供者資訊）

第38段 - 已完成業務的檢查：

事務所應：

考慮第37段中的事項
考慮其他監控活動的性質、時間和範圍
按循環基礎為每位業務合夥人選擇至少一項已完成業務

第39段 - 勝任能力和客觀性：

執行監控活動的個人必須具有勝任能力、能力和足夠時間
政策或程序應處理客觀性
業務團隊成員或業務品質檢討人員不得對該業務進行檢查

評估發現和識別缺陷

第40段： 事務所應評估發現以確定是否存在缺陷。

評估已識別的缺陷

第41段： 事務所應通過以下方式評估已識別缺陷的嚴重性和普遍性：

調查已識別缺陷的根本原因
評估已識別缺陷個別和總體對系統的影響

回應已識別的缺陷

第42段： 事務所應設計和實施對根本原因分析結果作出回應的補救行動。

第43段： 被指派監控和補救運作責任的人員應評估補救行動是否：

適當設計和實施
為處理先前已識別缺陷而實施的行動是否有效

第44段： 如果評估表明補救行動未適當設計、實施或有效，應採取適當行動進行修改。

關於特定業務的發現

第45段： 當發現表明在業務執行中遺漏了所需程序或發出的報告可能不適當：

採取適當行動以遵守專業標準和法律法規要求
當報告被認為不適當，考慮影響並採取適當行動，包括尋求法律意見

與監控和補救相關的持續溝通

第46段： 被指派運作責任的人員應及時向具有最終責任和運作責任的人員溝通：

所執行監控活動的描述
已識別的缺陷，包括其嚴重性和普遍性
處理已識別缺陷的補救行動

第47段： 事務所應向業務團隊和其他個人溝通第46段中的事項，以便其採取迅速和適當的行動。

網絡要求或網絡服務

第48段： 當事務所屬於網絡時，事務所應了解：

關於品質管理系統的網絡要求
事務所選擇使用的網絡服務或資源
事務所實施網絡要求或使用網絡服務的責任

事務所仍對其品質管理系統負責，不得允許遵守網絡要求或使用網絡服務違反 HKSQM 1 的要求。

第49段： 基於所獲得的了解：

確定網絡要求/服務如何相關並被考慮
評估是否需要以及如何調整或補充網絡要求/服務

第50段 - 網絡進行的監控活動：

當網絡執行監控活動時：

確定對事務所監控活動的影響
確定事務所的責任
及時從網絡獲取結果

第51段 - 跨網絡事務所的監控活動：

事務所應：

了解網絡跨網絡事務所進行的監控活動的整體範圍
至少每年獲取關於整體結果的資訊，並向業務團隊溝通並考慮對系統的影響

第52段 - 網絡要求/服務中的缺陷：

如果事務所識別到缺陷：

向網絡溝通關於已識別缺陷的相關資訊
設計和實施補救行動以處理影響

評估品質管理系統

第53段： 被指派最終責任的人員應至少每年在某一時間點評估系統。

第54段 - 結論選項：

(a) 系統提供合理保證，目標正在實現

(b) 除與具有嚴重但非普遍影響的已識別缺陷相關的事項外，系統提供合理保證

第55段 - 當結論為(b)或(c)時的行動：

採取迅速和適當的行動
向業務團隊和其他個人溝通
按照第34(e)段向外部各方溝通

第56段 - 表現評估：

事務所應對以下人員進行定期表現評估：

被指派最終責任的人員
被指派運作責任的人員

考慮品質管理系統的評估。

記錄

第57段： 事務所應準備足夠的記錄，以：

支持人員對系統的一致理解
支持回應的一致實施和運作
提供設計、實施和運作的證據以支持評估

第58段 - 記錄的內容：

(a) 被指派最終和運作責任的人員的識別

(b) 品質目標和品質風險

(d) 關於監控和補救：

(i) 所執行監控活動的證據

(ii) 發現的評估、已識別缺陷和根本原因

(iii) 補救行動以及設計和實施的評估

(iv) 關於監控和補救的溝通

(e) 根據第54段所達結論的基礎

第59段： 記錄與網絡要求/服務相關的事項及其評估。

第60段： 建立足夠的保存期限以支持監控，或如果法律或法規要求則更長。

關鍵要點總結

領域	關鍵要求
------	------------------
目標	合理保證事務所/人員履行責任且業務報告適當
組成部分	8個組成部分：風險評估、治理、道德、接受/續任、業務執行、資源、資訊/溝通、監控/補救
基於風險的方法	制定品質目標 → 識別/評估品質風險 → 設計/實施回應
領導層	最終責任指派給行政總裁/管理合夥人；運作責任指派給指定人員
道德	理解並履行相關道德要求；年度獨立性確認
監控	按循環基礎為每位業務合夥人至少選擇一項已完成業務；缺陷的根本原因分析
評估	由具有最終責任的人員進行年度評估；三種可能的結論
記錄	足以支持理解、實施和評估
網絡	事務所仍負責；必須了解和評估網絡要求/服務
生效日期	於2022年12月15日前設計和實施；一年內進行評估

50 條多項選擇題

Q1. 根據 HKSQM 1，事務所品質管理系統的目標是什麼？

A. 確保所有業務都盈利

B. 提供合理保證，事務所履行責任且業務報告適當

C. 保證任何業務都不會出錯

D. 最大化事務所的市場份額

答案：B

Q2. 品質管理系統涵蓋多少個組成部分？

A. 六個

B. 七個

C. 八個

D. 十個

答案：C

Q3. 符合 HKSQM 1 的品質管理系統的設計和實施生效日期是什麼？

A. 2021年12月15日

B. 2022年12月15日

C. 2023年12月15日

D. 2024年12月15日

答案：B

Q4. 誰應被指派品質管理系統的最終責任和問責性？

A. 業務合夥人

B. 行政總裁或管理合夥人

C. 審計委員會

D. 外部監管機構

答案：B

Q5. 根據 HKSQM 1，「品質風險」的定義是什麼？

A. 任何可能影響事務所盈利能力的風險

B. 有合理可能性發生並對一項或多項品質目標的實現產生不利影響的風險

C. 已經實現的風險

D. 僅與上市實體相關的風險

答案：B

Q6. 以下哪項不是品質管理系統的八個組成部分之一？

A. 治理和領導層

B. 財務報告

C. 資源

D. 資訊與溝通

答案：B

Q7. 在 HKSQM 1 的背景下，「合理保證」是什麼意思？

A. 絕對保證

B. 高水平但非絕對的保證水平

C. 中等保證水平

D. 低保證水平

答案：B

Q8. 品質管理系統的評估應何時進行？

A. 每五年

B. 至少每年

C. 僅在識別到缺陷時

D. 每三年

答案：B

Q9. 事務所品質管理系統中的「缺陷」是什麼？

A. 僅當品質目標未制定時

B. 僅當回應未有效運作時

C. 當品質目標未制定、品質風險未適當評估、回應無效或其他方面缺失或未適當設計時

D. 僅當外部檢查發現問題時

答案：C

Q10. 根據 HKSQM 1，事務所必須至少每年從所有需要保持獨立的人員獲得什麼？

A. 表現評估

B. 獨立性合規的書面確認

C. 培訓證書

D. 保密協議

答案：B

Q11. 以下哪項不是治理和領導層下的品質目標？

A. 事務所通過文化展示對品質的承諾

B. 領導層對品質負責和問責

C. 事務所最大化股東價值

D. 組織結構是適當的

答案：C

Q12. 當事務所識別到網絡要求或網絡服務中的缺陷時，必須做什麼？

A. 忽略它

B. 向網絡溝通並設計補救行動

C. 終止網絡關係

D. 向監管機構報告

答案：B

Q13. 按循環基礎為每位業務合夥人選擇多少項已完成業務進行檢查？

A. 至少兩項

B. 至少一項

C. 至少三項

D. 所有業務

答案：B

Q14. 業務品質檢討人員的角色是什麼？

A. 執行整個業務

B. 對重大判斷和結論提供客觀評估

C. 監督業務團隊

D. 批准業務費用

答案：B

Q15. 以下哪項不包括在「業務團隊」的定義中？

A. 執行業務的合夥人

B. 執行業務的員工

C. 外部專家

D. 執行業務程序的其他個人

答案：C

Q16. 關於投訴和指控，事務所必須制定什麼政策或程序？

A. 忽略它們

B. 接收、調查和解決它們

C. 僅接收它們

D. 向警方報告

答案：B

Q17. 事務所風險評估過程的目的是什麼？

A. 評估事務所的財務風險

B. 制定品質目標、識別和評估品質風險，以及設計和實施回應

C. 評估客戶信用度

D. 確定業務費用

答案：B

Q18. 當發現表明在業務執行中遺漏了程序或報告可能不適當，事務所必須做什麼？

A. 忽略發現

B. 採取適當行動以遵守專業標準並考慮影響

C. 僅記錄發現

D. 等待下一次檢查

答案：B

Q19. 以下哪項是相關道德要求下的品質目標？

A. 事務所最大化利潤

B. 事務所及其人員理解並履行與相關道德要求有關的責任

C. 事務所最小化成本

D. 事務所擴大客戶基礎

答案：B

Q20. HKSQM 1 中「網絡」的定義是什麼？

A. 任何事務所集團

B. 旨在合作且明確旨在分攤利潤或成本，或共享共同所有權、控制權、管理層、品質政策、業務策略、品牌名稱或重大專業資源的較大架構

C. 一群客戶

D. 專業協會

答案：B

Q21. 事務所必須記錄關於其品質管理系統的什麼內容？

A. 僅品質目標

B. 僅品質風險

C. 品質目標、品質風險、回應、監控活動和結論基礎

D. 僅監控活動

答案：C

Q22. 根據 HKSA，業務記錄的保存期限是多少？

A. 至少一年

B. 至少三年

C. 通常不少於五年

D. 至少十年

答案：C

Q23. 當事務所在接受客戶後獲知如事先知悉會導致拒絕的資訊時，必須做什麼？

A. 無論如何繼續業務

B. 通過政策或程序處理該情況

C. 忽略資訊

D. 僅記錄資訊

答案：B

Q24. 根據 HKSA，完成最終業務檔案整理的時限是多少？

A. 報告日期後30天

B. 報告日期後60天

C. 報告日期後90天

D. 報告日期後120天

答案：B

Q25. 以下哪項不是業務執行下的品質目標？

A. 業務團隊理解並履行責任

B. 指導、監督和檢討是適當的

C. 業務費用最大化

D. 就困難事項進行諮詢

答案：C

Q26. 關於被指派最終責任和運作責任的人員，事務所必須做什麼？

A. 僅任命他們

B. 考慮系統評估進行定期表現評估

C. 每年更換他們

D. 僅記錄他們的名字

答案：B

Q27. HKSQM 1 中「服務提供者」的定義是什麼？

A. 事務所的任何員工

B. 在系統或業務執行中提供資源的外部個人或組織（不包括網絡）

C. 網絡事務所

D. 客戶

答案：B

Q28. 關於事務所或其業務的性質和情況的變化，事務所必須做什麼？

A. 忽略變化

B. 制定政策以識別表明需要額外品質目標、風險或回應的資訊

C. 僅記錄變化

D. 等待年度評估

答案：B

Q29. 以下哪項是第34段要求的指定回應？

A. 最大化事務所利潤

B. 識別、評估和處理對遵守相關道德要求的威脅

C. 最小化業務成本

D. 擴大事務所的客戶基礎

答案：B

Q30. HKSQM 1 中「專業判斷」的定義是什麼？

A. 專業人士作出的任何決定

B. 在專業標準背景下應用相關培訓、知識和經驗，就適當行動方案作出知情決定

C. 業務合夥人的意見

D. 客戶的偏好

答案：B

Q31. 當事務所屬於網絡時，必須做什麼？

A. 無條件遵守所有網絡要求

B. 了解網絡要求、服務和責任，並確定它們如何相關以及是否需要調整

C. 忽略網絡要求

D. 僅使用網絡服務

答案：B

Q32. 監控和補救過程的目的是什麼？

A. 監控客戶滿意度

B. 提供關於系統的資訊並採取適當行動回應缺陷

C. 監控事務所盈利能力

D. 監控員工表現

答案：B

Q33. 以下哪項不是確定監控活動性質、時間和範圍的因素？

A. 對品質風險所作評估的原因

B. 回應的設計

C. 客戶偏好

D. 先前監控活動的結果

答案：C

Q34. 關於業務品質檢討，事務所必須做什麼？

A. 對所有業務進行

B. 制定政策要求對上市實體審計和其他指定業務進行

C. 僅對審閱業務進行

D. 從不進行

答案：B

Q35. 與品質管理系統相關的「發現」的定義是什麼？

A. 僅正面結果

B. 從監控、外部檢查和其他來源累積的表明可能存在缺陷的資訊

C. 僅外部檢查結果

D. 客戶反饋

答案：B

Q36. 當評估結論是系統不提供合理保證時，事務所必須做什麼？

A. 照常運作

B. 採取迅速和適當的行動，並向業務團隊和外部各方溝通

C. 僅記錄結論

D. 等待下一次評估

答案：B

Q37. 以下哪項是資源下的品質目標？

A. 最大化資源利用率

B. 人員被招聘、培養和留任，具有適當的勝任能力和能力

C. 最小化資源成本

D. 外包所有資源

答案：B

Q38. 關於業務團隊內的意見分歧，事務所必須做什麼？

A. 忽略它們

B. 確保它們提請事務所注意並解決

C. 僅記錄它們

D. 讓業務合夥人單獨決定

答案：B

Q39. 「相關道德要求」的定義是什麼？

A. 僅香港會計師公會道德守則

B. 適用於專業會計師的職業道德原則，通常包括香港會計師公會守則規定以及更嚴格的當地要求

C. 僅當地法律

D. 僅國際準則

答案：B

Q40. 關於就上市實體審計與治理層溝通，事務所必須做什麼？

A. 僅溝通費用

B. 溝通品質管理系統如何支持優質審計業務

C. 僅溝通審計結果

D. 無需溝通

答案：B

Q41. 與品質管理系統相關的「回應」的定義是什麼？

A. 僅書面政策

B. 為處理一項或多項品質風險而設計和實施的政策或程序

C. 僅口頭指示

D. 客戶反饋

答案：B

Q42. 關於執行監控活動的個人的客觀性，事務所必須做什麼？

A. 無要求

B. 禁止業務團隊成員或業務品質檢討人員對該業務進行檢查

C. 允許任何人執行監控

D. 僅要求勝任能力

答案：B

Q43. 以下哪項是資訊與溝通下的品質目標？

A. 最大化資訊量

B. 資訊系統識別、獲取、處理和維護相關和可靠的資訊

C. 最小化溝通

D. 僅與客戶溝通

答案：B

Q44. 關於已識別缺陷的根本原因分析，事務所必須做什麼？

A. 不需要

B. 調查根本原因，考慮缺陷的性質和可能的嚴重性

C. 僅記錄缺陷

D. 忽略根本原因

答案：B

Q45. 「上市實體」的定義是什麼？

A. 任何公司

B. 其股份、股票或債務在認可證券交易所報價或上市的實體

C. 僅公共部門實體

D. 僅私營公司

答案：B

Q46. 關於業務記錄的整理，事務所必須做什麼？

A. 在30天內整理

B. 在業務報告日期後及時整理

C. 在業務之前整理

D. 無要求

答案：B

Q47. HKSQM 1 中「人員」的定義是什麼？

A. 僅合夥人

B. 事務所內的合夥人和員工

C. 僅僱員

D. 僅管理層

答案：B

Q48. 關於被指派品質管理系統運作責任的人員，事務所必須做什麼？

A. 僅任命他們

B. 確保他們與具有最終責任的人員有直接溝通渠道

C. 每年更換他們

D. 無要求

答案：B

Q49. 以下哪項不是客戶關係和具體業務的接受與續任下的品質目標？

A. 基於充分資訊，關於接受/續任的判斷是適當的

B. 財務和運營優先事項不會導致不適當的判斷

C. 最大化客戶數量

D. 事務所執行業務的能力

答案：C

Q50. HKSQM 1 中記錄要求的目的是什麼？

A. 僅滿足監管要求

B. 支持一致理解、回應的實施和運作，並為評估提供證據

C. 記錄所有客戶溝通

D. 記錄所有財務交易

答案：B

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50 MCQs covering all sections. Timed at 1.25 min each (62.5 min total).

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