The importance of an independent, unbiased, and objective audit cannot be overemphasized. We demand compliance with the profession’s ethics and independence standards, and our over 54-year history of operating with integrity and objectivity confirms our commitment to excellence. We have developed audit techniques, internal control review methodology and forms, and industry specialized audit programs which are used by our staff.

Every audit is subject to a “quality review” by a quality review partner according to our Quality Control Manual (QCM). The purpose of the QCM is to emphasis the Firm’s quality control policies, procedures, and the need to perform work that compiles with professional standards, regulatory and legal requirements, and issue reports that are appropriate in the circumstances.

As the QCM acts as the basis for the conduct of all staff, as and when the QCM is updated, a summary of updates is conveyed to all employees to ensure they are aware of the changes. The Firm is a member of ICAB; it is open to independent reviews conducted by the Institute. The frequency of the reviews is irregular and the purpose of these reviews is to provide the Institute with an opportunity to oversee on a regular basis, the procedures required and the QCM and to ascertain from them that the procedures are being complied with.

The second type of review is internal. MGNL requires the member firms to be reviewed every three years to ensure they comply with the Moore Global Network Limited (U.K)regulations. Please visit www.moore-global.com for details of these requirements and the related checklists.

Annually, the managing partner also appoints a monitor(s) who selects at least one completed engagement file(s) from each engagement partner and review the application of quality control procedures. The scope of the file inspection is similar to that of a “general review” of working papers and driven by the complexity and risks associated with the engagement. Files are selected based on:

• High-risk, high-profile or complex clients, and;

• Results of previous inspections, including external inspections by professional and regulatory bodies.

The monitor covers both the appropriateness of the design and effectiveness of the operation of system of quality control, which include the following:

• Adherence to professional standards and other requirements;

• The appropriateness of file documentation and the opinion issued on engagement reports;

• Whether appropriate and sufficient consultation has taken place on difficult or contentious matters; and

• Whether the quality control policies and procedures of the firm have been appropriately applied.