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About Questionnaire

As a part of the peer review process, each practice unit is required to complete the questionnaire designed by the Board, within one month of receipt and send the same to the reviewer.

The questionnaire has been designed to establish the existence of internal controls within a practice unit that ensure the quality of attestation services rendered by it. The questionnaire is split up into different sections which deal with various aspects of the internal controls within the practice unit.

While the questionnaire has been prepared in a manner requiring practice units to answer in Yes/No, wherever necessary, the practice unit may give a descriptive answer to one or more questions. It may also be noted that in case a practice unit selects "Not applicable" (NA) as answer to any of the questions, it is required to give reasons for the same.

The questionnaire has been prepared in such a manner that the responses to the questionnaire help in identifying the controls that would normally be present in a practice unit although it is not intended to be exhaustive. It is possible that some practice units may not have some of these controls considering the level of practice. Non-existence of some of the controls by itself need not be construed as a deficiency in the quality of systems prevalent in the practice unit. The reviewer would use the responses to the questionnaire to plan the review.

During his visit to the practice unit, the reviewer evaluates the reasonableness and accuracy of the responses to the questions contained in the questionnaire. The reviewer, based on his evaluation of the responses to the questionnaire, may feel that the system adopted by the practice unit is not adequate. It is, however, also possible, that the system of practice unit is considered satisfactory for its type of practice, even though the same has not been adequately explained in the questionnaire. The reviewer is entitled to seek such other information as the reviewer considers necessary to facilitate the random selection of sample of attestation services engagements, which appropriately represents the practice unit's client portfolio.

It is also quite probable that large practice units while responding to the questionnaire may simply make a cross-reference to their own internal control manuals. In such a case, the reviewer shall have to consider the need for an additional visit to the practice unit before actually planning the on-site review of controls. Such additional visit would enable the reviewer to understand the prevalent controls in operation while performing attestation services.

The Board recognises that the responses to the questions may contain confidential information. The reviewer, therefore, should take appropriate measures to ensure that such information is not made available or known to any other person. Attention is also invited to paragraph 19 of the Statement on Peer Review which lays down the confidentiality requirements related to the process of peer review.

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