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What is an Engagement Quality Control Review (EQCR/EQR) and when is it required?

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An EQCR is an objective evaluation, by a qualified reviewer not on the engagement team, of the significant judgments and conclusions before the report is issued. It's required for audits of listed entities and other engagements meeting firm/regulatory criteria (higher risk/public interest). It safeguards quality and objectivity by adding independent challenge.
Real-world example Before signing a listed client's report, an independent EQC reviewer challenges the team's key judgments on impairment.

Common follow-ups: Who performs the EQCR? | Which engagements require one?

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All 18 Ethics & Independence questions