MVC Policy to address Compliance with Policies & Legal Requirements
The Firm has prepared appropriate documentation to demonstrate compliance with its policies and procedures related to undertaking engagements that meet professional, regulatory and legal requirements.
The form and content of such documentation is a matter of judgment and depends on a number of factors, such as the size of the Client, the number of offices, the degree of authority allowed its personnel and its offices, the nature and complexity of the firm’s practice, its organization, and appropriate cost-benefit considerations.
- Engagement: The requirements are discussed with Client prior to acceptance of the engagement
- Client related processes: client specific and implied requirements are determined and these requirements are reviewed prior to commitment to providing the same. Adequate customer communications exist regarding compliance with professional, regulatory and legal requirements
- Communication: All related Audit team members are communicated the Industry or Service specific documentation for compliance with professional, regulatory and legal requirements
- Providing client service: the audit firm performs the service to the client under controlled conditions including appropriate information, work instructions where required to ensure compliance with professional, regulatory and legal requirements
- Also the property of the client like original documents, other related information is filed to support compliance with professional, regulatory and legal requirements
All Auditors, and assistants with supervisory responsibilities, are assigned check list to ensure compliance with professional, regulatory and legal requirements