Where ACCA undertakes audit monitoring on behalf of a national regulator, it will also carry out a quality assurance review of non-audit services. Under the programme, member firms can qualify for the ACCA Quality Checked certificate and mark if they are able to demonstrate that they follow best practice standards, in addition to having a satisfactory outcome on audit monitoring and on compliance with ACCA’s rules and regulations.
In Cyprus ACCA also carries out quality assurance reviews on non-audit services on behalf of the national regulator. Firms that are eligible to call themselves “Chartered Certified Accountants” can also qualify for ACCA Quality Checked certificate and mark if they qualify for the national regulator’s award.
In summary, ACCA works to ensure that all of its practising members are subject to robust regulation. It works with national regulators and other professional bodies to avoid duplication and to further the public interest.