Auditing · Quality Management and Audit Planning
Under International Standards on Auditing, if an audit engagement partner conducts a planning meeting but several junior team members miss it due to training, and no subsequent briefing is held, what is the core quality management deficiency?
- 1Improper assessment of the financial statement materiality thresholds.
- 2Failure to maintain professional independence from the company CEO.
- 3Inadequate direction, supervision, and performance of the engagement team.✓
- 4Lack of client cooperation regarding operational shifts.
Correct answer
Inadequate direction, supervision, and performance of the engagement team.
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