1 Establish policies and procedures designed to provide the firm with
REASONABLE ASSURANCE that all personnel comply with relevant
1.1 Should be in line with the fundamental principles and reinforced by:-
1.1.2 Education and training
1.1.4 Process for dealing with non-compliance
2 Engagement partners provide relevant information about client
engagements including SCOPE OF SERVICES
3 PERSONNEL notify the firm of circumstances and relationships
4 Accumulation and communication of relevant information to appropriate personnel
4.1 Maintain and update records relating to independence.
4.1.1 Take appropriate action regarding identified threats
5 Establish policies and procedures so that the firm has reasonable
assurance that it is notified of breaches of independence
6 At least annually obtain written confirmation from all
personnel of compliance with policies and procedures.
7 FAMILIARITY THREAT
7.1 Establish policies and procedures determining safeguards to reduce
the familiarity level to an acceptable level when using the same
senior personnel on an assurance engagement over a long period of
7.2 LISTED ENTITIES:- Rotation of the engagement
partner and the individuals responsible for
engagement quality control review.