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TRANSPARENCY REPORT | AUDIT QUALITY
Internal quality indicators
We believe that a contributor to high quality audit outputs is the
direction and involvement of senior individuals and as such we
monitor and report the average RI hours as a percentage of the
total audit hours and the engagement quality review's hours as
a percentage of the RI hours. Although the amount of time these
individuals would be expected to spend on an engagement would
vary dependent upon the risk and complexity of an audit, the overall
trends are considered and the specific percentages are reviewed
where quality issues are identified and RCA is performed.
Supportive coaching measures for RIs seek to enhance performance
in a collaborative manner, with shared goals and objectives. We keep
a close eye on how many, who and why the RIs are in mentoring and
the progress they are making to come out of mentoring.
AQI
Year Ended
31 March 2021
Average RI hours as a percentage of the total audit hours 7%
The engagement quality review's hours as a percentage
of the RI hours
54%
RIs in supportive coaching measures
(excluding new starters)
4%
A QAD scoring methodology was introduced during the year and
implemented in July 2020. We are measuring the amount of files
which achieve the highest two grades of A and B from an A-D range.
AQI
July 2020
- 31 March 2021
Files reviewed by QAD gradings of A or B 75%