The firm sets quality objectives across governance, ethics, client acceptance, resources, engagement performance, information and communication and monitoring, assesses risks and evaluates the system at least annually. In Turkey it is issued by the POA as KYS 1.
Source: KGK, KYS 1
Related terms
Engagement quality reviewAn objective evaluation, before the report date, of the engagement team's significant judgements and the conclusions reached, by an auditor from outside the team.Public Oversight Authority (POA)The public authority in Turkey that sets accounting and auditing standards and authorises and oversees independent auditors and audit firms.Transparency reportThe annual report published by audit firms that audit public interest entities on their structure, quality control systems and independence practices.Adverse opinionThe opinion in which the auditor states that the financial statements are not presented fairly, where misstatements are both material and pervasive.Agreed-upon proceduresAn engagement in which the practitioner performs procedures agreed with the entity and, where relevant, a third party, and reports only the findings without providing assurance.Analytical proceduresThe evaluation of financial information through analysis of plausible relationships among financial and non-financial data.
Last updated: October 31, 2026 · This definition is for general information only.