CAS 220: Quality Management for an Audit of Financial Statements
Sets the engagement-level quality management responsibilities of the engagement partner, including engagement quality reviews (EQR) for listed entities and other specified engagements.
Why CAS 220 matters
For reporting issuers, an EQR is mandatory. Missing or late EQRs are a recurring CPAB inspection finding and can invalidate the file even if the substantive work was sound.
Framework: Canadian Auditing Standards (CAS)
CAS are the auditing standards adopted by the Auditing and Assurance Standards Board (AASB) of CPA Canada. They are Canadian adoptions of the IAASB's International Standards on Auditing (ISAs) and govern every audit of financial statements performed in Canada.
Primary source: FRAS Canada
Frequently asked
What is CAS 220?
Sets the engagement-level quality management responsibilities of the engagement partner, including engagement quality reviews (EQR) for listed entities and other specified engagements.
Why does CAS 220 matter for an audit?
For reporting issuers, an EQR is mandatory. Missing or late EQRs are a recurring CPAB inspection finding and can invalidate the file even if the substantive work was sound.
Which framework does CAS 220 belong to?
CAS 220 falls under Canadian Auditing Standards (CAS). CAS are the auditing standards adopted by the Auditing and Assurance Standards Board (AASB) of CPA Canada. They are Canadian adoptions of the IAASB's International Standards on Auditing (ISAs) and govern every audit of financial statements performed in Canada.
Related standards — Canadian Auditing Standards (CAS)
See how Auditus checks CAS 220
Auditus.ai runs PCAOB, ISA, and CAS engagements end-to-end and cites the exact standard behind every finding — including CAS 220.