FORM 1

APPLICATION CUM QUESTIONNAIRE TO BE SUBMITTED BY

PRACTICE UNIT
[As per Clause 6(1) & 6 (2) of the Peer Review Guidelines 2022]

The Secretary, Peer Review Board,

The Institute of Chartered Accountants of India,
ICAI Bhawan,
Post Box No. 7100,
Indraprastha Marg, New Delhi – 110002

APPLICATION

Dear Sir,

1. Our Firm ………………………………………………………………...

(Name of practice unit as per ICAI Records) ; FRN/ M. No. …. (Firm
Registration Number/ Mem. No. as per ICAI records) would like to apply
for Peer Review for the period from....……to……….(three preceding
financial years from the date of application). We have gone through the
Peer Review Guidelines 2022 hosted at
https://resource.cdn.icai.org/72010prb57960-peer-review-guidelines-
2022.pdf and undertake to abide by the same.
2. I/We hereby declare that my/our firm is applying for Peer Review (Tick
the applicable clause):
(i) As it is Mandatory by: ICAI Any other Regulator (please
specify)

(ii) Voluntarily:

(iii) As a special case Review initiated by the Board:

(iv) New Unit:

(v) As per decision of the Board:

3. I/We hereby declare that my/our firm has signed reports pertaining to
 the following assurance services during the period under review:

S. Type of Assurance Major type of Client

No. service rendered (please specify) (eg Banks;
Insurance Company;
Manufacturing; Individuals;
Trading ; any other )

1 Central Statutory Audit

2 Statutory Audit
3 Internal Audit

4 Tax Audit
5 Concurrent Audit
6 Certification work

7 Any other , please specify

4. I / We hereby declare that my/ our firm has conducted/ has not
conducted Statutory Audit of enterprises Listed in India or abroad as
defined under SEBI LODR, 2015 during the Review Period.
5. Option for appointment of Reviewer: (Tick appropriate option)
(i) Same City

(ii) From outside City

(iii) Either option (i) or (ii)

(iv) Preferred City in case of option (ii) ______________________
6. Mail Id for communication with the Practice unit ……….
7. Address for sending the Peer Review Certificate
……………………………………………………………………………………
……………………………………………………………………………………
……………………………………………………………………………………
…………………………………………………………….
Further Information to be submitted by New Unit
8. Tick the applicable clause or mention N.A. as the case may be:
 (i) CA ……….., M.No. [………] , partner of my firm is /was a
partner/ proprietor of the firm …………………..(name and FRN
of firm as per ICAI records) having a Peer Review Certificate
No. (………………) that is valid from……………..
till………………….
(ii) I am / was a partner/ proprietor of the firm
…………………..(name and FRN of firm as per ICAI records)
having a Peer Review Certificate No. (………………) that is valid
from…………….. till………………….
(iii) CA……………..(M. N………………………….), an employee of
my firm who is a Chartered Accountant, is / was a partner/
proprietor of the firm …………………..(name and FRN of firm as
per ICAI records) having a Peer Review Certificate No.
(………………) that is valid from…………….. till………………….
(iv) CA ……….. , M.No. [………] ,partner of my firm …………… , is
an Empanelled Peer Reviewer who has qualified the test
organised by the Board.
(v) I, CA ……………….., M. No……………………….am an
Empanelled Peer Reviewer who has qualified the test organised
by the Board.
9. Policies, procedures and infrastructure of my firm is in conformity with
the Standards on Quality Control i.e. SQC-1 and
10. I wish to undertake audit of listed entity and further declare that: (Fill
as applicable or else mention N.A.)
(i) CA ……….. , M.No. [………] ,partner of my firm has carried out
audit of Listed company in last three years.
(ii) I, CA…………., M. No. ……………… ( in case of proprietorship
firm) have carried out audit of Listed company in last three
years.
11. The Practice Unit nominates its Partner CA……………….. for Peer
Review process. His Mobile No. is…………………………………and E-
MAIL id is…………………………..
12. Annexure: Questionnaire
 I hereby Declare that the details furnished above are true and correct
as borne out by the facts to the best of my knowledge and belief.
 I understand that the Peer Review Certificate, issued on the basis of
the report submitted by the reviewer does not provide immunity from
Disciplinary/ legal proceedings or actions initiated against Practice
Unit or its partners/ employees.
 I undertake to pay the fee to the Peer Reviewer within 7 days from the
date of receipt of the invoice from the Peer Reviewer.
 I further undertake and agree that the certificate can be revoked for
any of the reason stated in the Peer Review Guidelines

Signature

Name of Proprietor/Partner/
individual Practicing in own name:

Membership No. of the Signatory

Date:
 Annexure
QUESTIONNAIRE
(PART A - PROFILE OF PRACTICE UNIT (PU)

1. Name of the Practice Unit:

2. Peer Review of HO Branch

3. Address (As per ICAI records) ________________________________
________________________________________________________
________________________________________________________
4. Email ID and website of PU __________________________________

5. Status: Partnership Proprietorship

Limited Liability Partnership Practicing in individual name

6. Date of establishment of the PU: d d m m y y y y

7. Firm Registration Number:

(Membership No. in case of an individual practicing in own name)

8. Is there any networking firm and if yes, please provide

(i) Name of network: _____________________________________
(ii) Since when the Networking is entered into: ________________
(iii) Is there any exit from the Networking recently: _______. And if
Yes, what is the reason or such exit: _____________________

9. Period of assurance service under review

from: d d m m y y y y To: d d m m y y y y

10. Contact person of PU for Peer Review (along with Mobile No. and
Email id) _________________________________________________
________________________________________________________
________________________________________________________
11. Particulars about the constitution of the PU during the period under
review (as per Form 18 filled with the ICAI). Is there assurance service
like Statutory audit, tax audit, Taxation etc. headed by different
partners, if yes details to be provided in the below table:
Name of Membership Association Any Post Professional Predominant Details of
sole- no. of sole- with Practice Qualification experience in function (e.g. Changes
practitioner/ practitioner/ unit or practice audit, tax,
Joined Left
sole- sole- (in years) Certificate consulting)
(Year) (Year)
proprietor/ proprietor/ course
partner partner pursued
within or
outside ICAI.

12. Particulars of Chartered Accountants / Employed / Paid Assistant or

Consultants as on <______>:(last date of block period of peer review)
Name (s) Membership Association with Experience (in
no. the practice unit years)
(in years)

13. Details of Other Employees as on <______>:(last date of block period

of peer review)
Particulars Number
(a) Semi-Qualified Assistants
(b) Articled Assistants
(c) Administrative Staff
(d) Others
14. If the PU has any branch offices, furnish the following details of
member in charge and number of staff
S.No Member No. of staff Membership Address Whether
in Charge No assurance
services
rendered

15. How is the control procedure followed by the Branch/es. And whether
any periodic sample testing of clients handled by branch/es is done by
HO?
________________________________________________________
________________________________________________________
16. Gross receipts of the Practice Unit [both H.O. and branch(es)] as per
books of accounts from assurance functions for the period under
review. In case of centralized billing the branch turnover may be added
with HO otherwise separate figures (Rs. in Lakhs) to be given:
Financial Year Head Office Branch -- Branch -- Branch --

OR

Total Gross receipts of the Practice Unit [both H.O. and branch(es)] as
per books of accounts for the period under review. In case of
centralized billing the branch turnover may be added with HO
otherwise separate figures (Rs. in Lakhs) to be given:
Financial Year Head Office Branch -- Branch -- Branch --
17. Concentration: Furnish details where professional fees from any client
exceed 15% of the PU’s total gross receipts:
Name or code Type of Service % of PU’s total Financial Year
number of the (Assurance / Non gross receipts
Client Assurance)

18. Whether PU has ever undertaken self-evaluation as per ‘Digital

Competency Maturity Model-2? ___________________________If
yes, when_____________?

19. Has the PU been subjected to a Peer Review in the past?

___________.If yes, the Certificate number issued by the
Board_____________________.

20. Whether any Partner/Employee of Practice Unit has been found guilty
by the Disciplinary Committee in the past 3 years in any capacity.
Name of Membership No. Case No. Whether found
Partner/Employee guilty YES/NO

21. Whether any client obtained through the process of

tendering?____________________

22. Please provide details of assurance clients where report/certificate has

been signed during the period under review, financial year wise and
branch wise as per Annexure A (Please use additional sheet for year-
wise details):
 ANNEXURE A
Note: The clients obtained through tender may please be marked
with the word tender in bracket.
Sr. Category Name Name Type of Engagement* Whether Turn Borrowi Net
No. of Client of of Engagemen over ng Rs. worth
(Name or Branc Signi t Quality Rs. Lakhs Rs.
code of h/HO ng review Lakhs Lakh
client) of PU Partn done? s
er
FY…. FY…. FY….
A Any Bank or Insurance Company
A1
A2
A3
B Non Banking Financial Companies having public deposits of Rs.100 crore or above.
B1
B2
B3
Central or State Public Sector Undertakings and Central Cooperative Societies having
C
turnover exceeding Rs.250 crore or net worth exceeding Rs.5 crores.
C1
C2
C3
Enterprise which is listed in India or Abroad as defined under SEBI (Listing Obligations
D
and Disclosure Requirements) Regulations, 2015.
D1
D2
D3
E Asset Management Companies or Mutual Funds.
E1
E2
E3
F Entities preparing the financial statements as per Ind AS.
F1
F2
F3
G Any Body corporate including trusts which are covered under public interest entities.
 G1
G2
G3
Entities which have raised funds from public or banks or financial institutions or by way
H
of donations/contributions over Fifty Crores rupees during the period under review.
H1
H2
H3
Entities which have been funded by Central and / or State Government(s) schemes of
I
over Rs.50 crores during the period under review.
I1
I2
I3

Entities having Net Worth of more than Rs.100 Crores rupees or having turnover of
J
Rs.250 crore or above during the period under review.
J1
J2
J3
K Any other
K1
K2
K3

*Type of engagement (1) Central Statutory Audit (CSA), (2) Statutory

Audit (SA), (3) Tax Audit (TA), (4) Internal Audit (IA), (5) Others
(Concurrent, GST, certification work etc.)
Note: Type of assurance service engagements include Central
Statutory Audit, Statutory Audit, Tax Audit, GST Audit, Internal Au dit,
Certification work but does not include:
(i) Management consultancy Engagements;
(ii) Representation before various authorities;
(iii) Engagements to prepare tax return or advising clients in
taxation matter;
(iv) Engagements for the compilation of financial statement;
(v) Engagements solely to assist the client in preparing, compiling
or collating information other than financial statement;
(vi) Testifying as an expert witness;
(vii) Providing expert opinion on points of principle, such as
Accounting Standards or the applicability of certain laws, on the
basis of facts provide by the client; and
(viii) Engagements for due diligence.
 PART B
GENERAL CONTROLS (Based on SQC 1)
(Not applicable for New Units)
The Standard on Quality Control i.e. SQC-1 has been made mandatory
by ICAI on and from (1st April 2009). Hence, the PU is required to
establish a system of ‘Quality Control’, designed to provide reasonable
assurance that the PU and its personnel comply with professional
standards; regulatory, legal and ethical requirements.
Broadly, PU system of quality control should include policies and
procedures addressing leadership responsibility, ethical requirements,
acceptance and continuance of client relationship, Human Resources,
Engagement Performance and Monitoring etc. A Questionnaire based
on these criteria is given in Part B(I); B(II); B(III); B(IV); B(V) and B(VI)
herein below.
[Notes:
(i) The application of SQC-1 will depend on various factors such as
the size and operating characteristics of the PU and whether it is
part of network.]
(ii) Refer to implementation Guide to SQC1:
https://resource.cdn.icai.org/20913frpubcd_aasb1.pdf
PART B (I)
LEADERSHIP RESPONSIBILITIES FOR QUALITY WITHIN THE FIRM

S.No. Policies and Procedures Remarks/Yes/No/Na

1 Does the PU have a Quality Control
Manual in place?
2 Whom has the firm entrusted with the
responsibility for developing,
implementing, and operating the Firm’s
QC system?
3 Who is ultimately responsible for ensuring
the effectiveness of the firm’s System of
QC and setting a tone that emphasizes
the importance of quality?
4 Whether the same has been formally
S.No. Policies and Procedures Remarks/Yes/No/Na
documented and agreed upon by
partners?
5 (i) Who evaluates the client relationships and
specific engagements to ensure that
commercial considerations do not override
the objectives of the system of QC?
5 (ii) How often is this evaluation carried out?

6 What is the procedure followed by firm to

ensure that fee considerations and scope
of services do not infringe upon the quality
of work and proper documentation as
envisaged in SQC 1 is maintained?
7 (i) How and when are the Firm’s QC policies
and procedures shared with the personnel
working in the Firm?

7 (ii) Whether refresher sessions are taken

periodically?
8 Does the firm’s compensation system
provide incentives and advancement to
the personnel who demonstrate quality of
work and compliance with professional
standards?
9 Has the PU come across any instances
where the QC was overridden?
10 Which of the following resources have the
firm deployed for developing,
implementing and maintaining Firm’s QC
policies and procedures:
(i) Manpower
(ii) IT tools
(iii) Library
(iv) Regular review mechanism etc.
 PART B (II)
ETHICAL REQUIREMENTS
S.No. Policies and Procedures Remarks/Yes/No/Na
1 Which of the following procedures does
the PU have in place for ensuring that the
personnel adhere to ethical requirements
those contained in the code:
(i) Designated Independence and Ethics
Partner who is responsible for all aspects
of independence and ethics of the PUs
partners and professional staff
(ii) If answer to (i) above is yes, name of the
Partner
(iii) Is the Partner same as QC Partner?
(iv) Has the PU established a system for
identifying all services performed for each
client and evaluating whether any of the
services impair independence?
(v) Does the PU regularly update itself with
the changes in professional ethics and
independence standards/ requirements?
(vi) What checks are put in place to ensure
that all personnel follow the independence
and ethics policies of the PU?
2. Which of the following checks does the
PU put in place to ensure that the
independence requirements are
communicated to its personnel:
(i) Does the PU maintain a list of entities with
which PU personnel and others, if any,
are prohibited from having a financial or
business relationship?
(ii) Does the PU make the list available to the
concerned personnel so that they evaluate
their independence?
S.No. Policies and Procedures Remarks/Yes/No/Na
(iii) Are the changes in the list notified to the
personnel as soon as such changes
occur?
(iv) Does the PU provide frequent reminders
of professional responsibilities to
personnel?
3. Which of the following policies,
procedures and the safeguards the PU
has in place to mitigate threats to its
independence?
(i) Do the Engagement Partners provide the
PU with relevant information about client
engagement to enable it to evaluate the
overall impact on independence
requirements?
(ii) Does the PU provide training to partners
and professional staff on what constitutes
threat to independence and the
safeguards that may be taken to reduce
the threats to an acceptable level?
(iii) Accumulating and communicating relevant
information to appropriate personnel
(iv) How and to whom the personnel notify of
circumstances and relationships that
cause threat to independence?
(v) What are the steps taken by PU so that
the self-interest threat to independence is
mitigated?
(vi)a. How the PU is mitigating the self-review
threats.
(vi)b. Is there any checklist where the steps
have been outlined?
(vii)a. How the PU is mitigating the risk of
advocacy threats.
S.No. Policies and Procedures Remarks/Yes/No/Na
(vii)b. Can the PU demonstrate the same?
(viii)a. How the PU is mitigating the familiarity
threats.
(viii)b. Can PU demonstrate the same?
(viii)c. Is the relationship with client personal
disclosed in the Independence form?
(ix)a. Can the PU demonstrate that professional
skepticism was used in the entire
assignment?
(ix)b. What measures are taken to mitigate the
same?
4. What policies, processes and safeguards
has the PU established with regard to
threats to its independence:
(i) Is it ensured that the PU does not have
any financial interests in audit clients,
their owners and officials?
(ii) Does the ethics policy of the PU
emphasize that the members of PU must
not have other than business relationships
in audit clients, their owners and officials?
(iii)a. Does the PU have the policy of rotating
out senior personnel from the assurance
engagements after a certain length of
service at a particular engagement?
(iii)b. If yes what is the length of service?
(iv) Whether there is a policy that the
personnel declares - the acceptance of
gifts & hospitality from clients/owners
(v) Does the PU have the policy to obtain
annual independence declaration from all
personnel?
(vi) As a step in the engagement program, is
the Engagement Partner required to sign
S.No. Policies and Procedures Remarks/Yes/No/Na
a compliance with independence
requirements?
(vii) In case professional service is conducted
jointly with other auditor, is the annual
independence confirmed for the other
auditor?
5. Are the number of audit assignments held
by the PU, at any time, more than the
specified number of audit assignments:
(i) Under the prevailing Companies Act
and/or the limit prescribed by the ICAI.
(ii) Tax audit assignments as per ICAI
notification
6.(i) Has the PU accepted appointment as
Statutory Auditor of – PSU(s)/Government
Company (ies) Listed company(ies) and
other Public Company(ies) having
turnover of more than Rs. 50 crores or
more in a year and accepted other work or
assignment or service in regard to the
same entity(ies) on a remuneration which
in total exceeds the fee payable for
carrying out statutory audit of the same
entity.)
6(ii) If yes, specify reasons
7.(i) Has the PU accepted appointment as an
auditor of a concern while it/he is indebted
to the concern or has given any guarantee
or provided any security in connection
with the indebtedness of any third person
to the concern, for the limits fixed in the
statute and in other cases for amount not
exceeding Rs.1,00,000.
7(ii) If yes, specify reasons.
8.(i) Has the PU received fees from a client
S.No. Policies and Procedures Remarks/Yes/No/Na
below the minimum scale of fees
recommended for audit assignments by
the ICAI?
8(ii) If yes, reason for accepting fee below
recommended scales
9.(i) Has the PU, being statutory auditor of a
client rendered any services to the same
client, as mentioned in section 144 of
Companies Act 2013
9.(ii) (if yes, specify reason with name of the
entities and year in which such service
was rendered)
10.(i) Has the PU, as incoming auditor for an
entity, followed the direction given by the
ICAI not to accept an appointment as
auditor in the case of unjustified removal
of earlier auditor?
10.(ii) If no, reasons for non-adherence to the
direction
11.(i) Does the PU or a Network, as a good and `
healthy practice, make a disclosure of the
payment received by it for other services
through the medium of a different firm or
firms in which the said PU or Network or
its partners may have an ownership
interest.
11.(ii) (If no, specify reasons)
12. Has the PU followed the Guidelines
issued by the ICAI in respect of
engagement/(s) procured through
Tender?
13. Is the website of the PU in conformity with
Institute's guidelines/ directions issued on
posting of particulars on website by
Practice Unit(s)?
S.No. Policies and Procedures Remarks/Yes/No/Na
14. Whether your firm has been reviewed by:
(i) The Quality Review Board (QRB)
(ii) Financial Reporting Review Board (FRRB)
(iii) Any regulator (Pls. specify)
(iv) If yes, details as under:
Yr. of Name Broad Dt. Of
Review of descript Submission
entity ion of of
deficien compliance
cies report
(where ever
reqd.)

15. Have any Government Bodies/ Authorities

evaluated the performance of the firm to
the extent of debarment/ blacklisting?
PART B (III)
Acceptance and Continuance of Client Relationships and Specific
Engagements
S.No. Policies and Procedures Remarks/Yes/No/Na
1. Whether PU documents the decisions
taken relating to acceptance and
continuance of client relationships/
engagements?
(i) Does the PU maintain a client
engagement/ acceptance and continuance
form?
(ii) Who is responsible for completing the
client engagement/acceptance and
continuance form?
S.No. Policies and Procedures Remarks/Yes/No/Na
(iii) If No, how has the client engagement/
acceptance been documented Pls.
elaborate.
2. Which of the following processes does the
PU have in place when accepting or
deciding to continue a client relationship:
(i) Informing Firm personnel of the policies
and procedures for accepting and
continuing clients
(ii) Usage of Client Acceptance/engagement
acceptance checklists listing down:
a) Obtaining and evaluating relevant
information before accepting or continuing
clients
b) Performing Background checks for the
business, KMP, sister concerns, and
other person(s) in questions
c) Considering the integrity of the client
d) Communicating with previous auditor
when required or recommended by
professional standards
e) Evaluating the risk of providing services to
clients for which the firm’s objectivity or
independence may be impaired
f) Whether all KYC norms issued by ICAI
are fulfilled?
3. Who evaluates the information about the
client and gives final approval for
acceptance/continuance of client
engagement?
4. Which of the following procedures the firm
has in place for assessing its capability
before taking up new
engagements/continuance of existing
clients:
S.No. Policies and Procedures Remarks/Yes/No/Na
(i) Evaluating whether the firm has sufficient
personnel with necessary capabilities and
competence
(ii) Specialists in terms of specific industry
experience or certain skill sets are
available, if needed
(iii) Individuals meeting the criteria and
eligibility requirements to perform an
engagement QC review are available,
when needed , whether internally or
externally
(iv) Assessment that the firm would be able to
complete the engagement within agreed
deadline
5.(i) Does the PU prepare engagement letter
documenting the understanding with the
client?
5.(ii) Is the engagement letter signed by the
client?
6. Has the PU withdrawn from an
engagement and/or from client
relationship during the period of review?
a) If yes, has the reason for withdrawal been
documented
b) If yes, please mention the Names /Codes
of the clients alongwith the year and the
reason for withdrawal- (Pls. use extra
sheet, if required)
Client Year of Reason for
Name/ withdrawal Withdrawal
Code
S.No. Policies and Procedures Remarks/Yes/No/Na
7 Did the PU face any issues relating to
acceptance or continuance of client
relationships and specific engagements
during the period of review?
a) If yes, how was it resolved?
b) Who has the custody of such documents?
PART B (IV)
Human Resources
S.No. Policies and Procedures Remarks/Yes/No/Na
1. Which of the procedures does the PU
have in place for managing the Human
Resource function:
(i) Does the PU have a designated individual
to be responsible for managing Human
Resource function?
(ii) How frequently the designated person/ PU
evaluate the PUs personnel needs?
(iii) Is there a formal documented process for
hiring by the PU, covering:
a) Does the PU have an established criterion
for determining which individuals would be
involved in hiring process?
b) Has the PU laid down any qualification,
experiences, attributes required for the
entry level and experienced personnel to
be hired?
c) Additional procedures like performing
background checks etc. been put in
place?
d) Whether joining check-list is maintained?
2. Does the firm maintain and monitor the
employee turnover ratio and identify
measures to keep it minimal?
S.No. Policies and Procedures Remarks/Yes/No/Na
3. Does the firm maintain a minimum Staff to
Partner Ratio, Partner to Manager,
Manager to Articles, Client to Staff ratio,
etc.
4. Which of the following considerations
does the PU have in place to select the
engagement partner & team required for
an engagement:
a) Understanding the role of PUs Quality
Control and Code of Ethics issued by the
Institute in ensuring the integrity of the
accounting, auditing and attest functions
to user of reports
b) Performance, supervision and reporting
aspects of the engagement, which
ordinarily are gained through training or
participation in similar engagements
c) The industry in which the client operates,
including its organization and operating
characteristics, sufficient to identify areas
of high or unusual risk associated with
engagement
d) The skills that contribute to sound
professional judgment, including the ability
to exercise professional skepticism
e) Adequate mix of different level personnel
in the team
f) How the auditee uses information
technology and the manner in which
information systems are used to record
and maintain financial information
5. Which of the following procedures does
the PU follow to determine the capabilities
and competencies possessed by
personnel:
S.No. Policies and Procedures Remarks/Yes/No/Na
(i) Does the PU have an established criterion
for evaluating personal characteristics
such as integrity, competence and
motivation?
(ii)a. Does the PU evaluate the personnel
atleast annually to determine their
capabilities and competencies?
(ii)b. If yes, whether this is documented?
6. Does the PU have any policy for assigning
responsibility for engagements to an
engagement partner?
7. Does the PU have following parameters
in place to ensure that the knowledge of
its personnel get updated on an ongoing
process:
(i) Requires personnel (including articled
trainees) to participate in the CPED
programs in accordance with firm
guidelines to keep them updated on the
current developments
(ii) Maintains/tracks record of CPE status of
its professional personnel as per the
requirements of the ICAI
(iii) Provides CPED course materials / access
to digital content on the latest changes in
accounting, auditing, independence
requirement
(iv) Provides orientation and training programs
for new hires
(v) Employees are equipped with
technological skill sets – like AI,
Blockchain, Audit & Data analytical tools,
etc.
(vi) Does the PU sponsor any of skill
development tools?
S.No. Policies and Procedures Remarks/Yes/No/Na
(vii) Does the PU provide access to
technology, infrastructure and
methodology for better enablement of day
to day work?
(viii) Does the PU organize self-developed
programs like group discussions, mock
presentation, short reviews by Team
Leader etc.?
8. Does the PU have policies and
procedures for career advancement of its
personnel?
9. Is there a system for evaluating the
performances on timely basis with the
individual being evaluated?
10. Is there a fast track advancement policy
for star performers?
PART B (V)
Engagement Performance
S.No. Policies and Procedures REMARKS/YES/NO/NA
1.(i) Does the PU plan for performing
engagements in accordance with
professional standards and regulatory
and legal requirements?
(ii) If yes, what does the plan encompass:
a) Are the responsibilities assigned to
appropriate personnel during the
planning phase?
b) Is the background information on the
client and the engagement
developed/updated and team briefed
accordingly?
c) Does the firm prepare a planning
document mentioning the staffing
requirements/the risks/time allocation
etc.?
S.No. Policies and Procedures REMARKS/YES/NO/NA
d) Whether checklist of relevant
Laws/Rules including those related with
Accountancy & audit is shared with the
engagement team?
e) Whether industry briefing about nature,
structure & vertical, and important
points from previous year audit
summary memorandum are provided to
team during planning of the
engagement?
f) Any other (pls. specify)
2. Does the PU conduct pre-assignment
meeting with the clients, liaison office
etc. to understand the preparedness of
the client to start the professional
functions.
3. Does the PU prepare and document
Audit Summary Memorandum to
provide the history of the planned risks,
the audit procedures which mitigated
the risk, conclusions on controls etc.?
4. Does the PU prepare standardized
forms, checklists and questionnaires
used in performance engagements?
5. Does the team leader/Engagement
Partner keep a track of the audit
findings, other significant issues at
various stages of the engagement
(including disposal/discussion with the
TCWG)?
6. How does the PU ensure that
(i) the qualified team members review the
work performed by other team
members on a timely basis?
S.No. Policies and Procedures REMARKS/YES/NO/NA
(ii) Is there any document maintained by
the PU for the supervision of work
performed?
7. What is the mode for maintaining the
working papers? Electronic mode or in
physical form or in a hybrid manner?
8. What tool does the PU use for
maintaining the working in electronic
form?
9. Which of the following procedures does
the PU have in place to maintain
confidentiality, safe custody, integrity,
accessibility and retrievability of
engagement documentation:
(i) Documenting when and by whom the
engagement documentation was
prepared and reviewed
(ii) Protecting integrity of information at all
stages of engagement especially when
the information was shared through
electronic means
(iii) Preventing unauthorized changes in
engagement documentation
(iv) Allowing access to engagement
documentation by engagement team
and other authorized parties only
(v) Enabling confidential storage of
hardcopies of engagement
documentation
(vi) Requiring use of passwords by
engagement team members and data
encryption to restrict access to
electronic engagement documentation
to authorized users
S.No. Policies and Procedures REMARKS/YES/NO/NA
(vii) Maintaining appropriate backup
routines at appropriate stages during
the engagement
(viii) Enabling the scanned copies to be
retrieved and printed by authorized
personnel
10. Which procedures does the PU follow
to ensure that it maintains engagement
documentation for a period of time
sufficient to meet the needs of the firm,
professional standards, laws and
regulations:
(i) For how many years the PU maintains
engagement documentation?
(ii) How does the PU enable retrieval of,
and access to engagement
documentation during the retention
period in case of electronic
documentation as the underlying
technology may be upgraded or
changed overtime
(iii) Does the PU ensure that, record of
changes made to engagement
documentation after assembly of files
has been completed?
(iv) Does the PU ensure that only
authorized external parties access and
review specific engagement
documentation for QC or other
purposes?
11(i) Does the PU have the policy for
documenting the issue requiring
consultation, including any decisions
that were taken, the basis for those
decisions
11(ii) And how they were implemented?
S.No. Policies and Procedures REMARKS/YES/NO/NA
12. Who resolves with the differences of
professional judgement among
members of the engagement team?
13. Is there a formally designed an
escalation matrix, in case the
differences are not resolved at certain
level?
14. Are the conclusions reached properly
documented?
15. What happens if the members of the
team continue to disagree with the
resolution?
16. When does the PU release the report in
cases where differences in opinion
exist?
17. Does the PU have a policy of having
engagement quality review conducted
for all audit of financial statements of
listed entities?
18. Which of the criteria does the PU have
in place for carrying out the
engagement QC review for its
engagements (other than covered
above):
(i) Certain class of engagements (mention
the class)
(ii) Risks in an engagement (mention
type/level)
(iii) Unusual circumstances (mention the
particular circumstance)
(iv) Required by law or regulation (quote
the law/regulation)
S.No. Policies and Procedures REMARKS/YES/NO/NA
(v) Any other like size (pls. elaborate)
19. Which of the following procedures are
followed by the PU for addressing the
nature, timing, extent, and
documentation of engagement QC
review:
(i) Discuss significant accounting, auditing
and financial reporting issues with the
engagement partner
(ii) Discuss with the EP the engagement
team’s identification and audit of high
risk assertions and transactions
(iii) Confirm with the EP that there are no
significant unresolved issues
(iv) Read the financial statements and the
report and consider whether the report
is appropriate
(v) The procedures required by the firm’s
policies on engagement QC review
have been performed
(vi) The engagement QC review has been
completed before the report is released
(vii) Resolving conflict between the
engagement partner and the
engagement QC reviewer regarding
significant matters
20. Which of the following are the PU's
established criteria for eligibility of
‘Engagement Quality Assurance
Reviewers’:
(i) Selected by QC partner or the
Managing Partner
S.No. Policies and Procedures REMARKS/YES/NO/NA
(ii) Has technical expertise and experience
(iii) Carries out the responsibilities with
objectivity and due professional care
without regard to relative positions
(iv) Meets the independence requirements
relating to engagement reviewed
(v) Does not participate in the performance
of the engagement except when
consulted by the engagement partner
(vi) Any other (Pls. specify)
PART B (VI)
Monitoring
S.No. Policies and Procedures Remarks/Yes/No/Na
1.(i) Does the PU have Policies and
Procedures to confirm on the
adequacy and relevance of Quality
Control procedures adopted?
(ii) If yes, what document is in place to
establish the procedure
2. Who is responsible to evaluate the
Quality and Control policies and
procedures to ensure the relevance,
adequacy, effectiveness and
appropriateness with current trends?
3. How frequently are the processes and
the procedures related to QC
revised?
4. When was the last revision to the
Quality Control policies and
procedures carried out?
5.(i) Did the PU follow ongoing
consideration and evaluation system
of quality controls?
S.No. Policies and Procedures Remarks/Yes/No/Na
5.(ii) If yes, what document is in place to
establish the same
6. Which of the following monitoring
procedure, the PU has in place for
QC:
(i) Designated partner/(s) for performing
annual inspection
(ii) Deciding how long to retain detailed
inspection documentation
(iii) Reviewing correspondence regarding
consultation on independence,
integrity and objectivity matters and
acceptance and continuance
decisions
(iv) Preparing summary inspection report
for the partner and sets forth any
recommended changes that should
be made to the firm’s policies and
procedures
(v) Reviewing and evaluating Firm
practice aids, such as audit programs,
forms, checklists and considering that
they are up to date relevant
(vi) Reviewing summary of CPED records
of firms professional personnel
(vii) Reviewing other administrative and
personnel records pertaining to QC
elements
(viii) Soliciting information on the
effectiveness of training programs
from the Firm’s personnel
(ix) Any other (Pls. elaborate)
 PART C
(Scores obtained by self-evaluation using AQMMv1.0)
[Mandatory Applicable w.e.f 1 st April 2023 for Practice units conducting
statutory audit of listed entities (other than branches of banks and Insurance
companies) and recommendatory for other Practice Units]
Section 1- Practice Management –Operation
Competency Basis Score Basis Max Scores
Scores obtained
1 Practice Management – Operation

1.1. Practice Areas of the Firm

I Revenue from audit and (i) 50% to 75% – 8

assurance services 5 Points
(ii) Above 75% – 8
Points

ii Does the firm have a vision For Yes – 4 Points 4

and mission statement? For No – 0 Point
Does it address Forward
looking practice
statements/Plans?
Total 12
1.2. Work Flow - Practice Manuals
i. Presence of Audit manuals For Yes – 8 Points 8
containing the firm's For No – 0 Point
methodology that ensures
compliance with auditing
standards and
implementation thereof.
ii. Availability of standard For Yes – 8 Points 8
formats relevant for audit For No – 0 Point
quality like -
- LOE
- Representation letter
- Significant working
papers
- Reports and
implementation thereof
Total 16
Competency Basis Score Basis Max Scores
Scores obtained
1.3. Quality Review Manuals or Audit Tool
i. Usage of Client For Yes – 4 Points 4
Acceptance/engagement For No – 0 Point
acceptance checklists and
adequate documentation
thereof.
ii. Evaluation of Independence For Yes – 4 Points 4
for all engagements For No – 0 Point
(partners, managers, staff,
trainees) based on the
extent required. The firm
must identify self-interest
threat, familiarity threat,
intimidation threat, self-
review threat, advocacy
threat and conflict of
interest.
iii. Does the Firm maintain and For Yes – 4 Points 4
use the engagement For No – 0 Point
withdrawal/ rejection policy,
templates, etc.
iv. Availability and use of For Yes – 4 Points 4
standard checklists in For No – 0 Point
performance of an Audit for
Compliance with Accounting
and Auditing Standards
v. Availability and use of For Yes – 4 Points 4
standard formats for audit For No – 0 Point
documentation of Business
Understanding, Sampling
basis, Materiality
determination, Data
analysis, and Control
Evaluation
vi. Are the documents related For Yes – 4 Points 4
to Quality control mentioned For No – 0 Point
from (i) to (v) above
reviewed and updated on a
frequent basis (say annually)
or with each change in the
Competency Basis Score Basis Max Scores
Scores obtained
respective regulation or
statute and remedial action
taken?
Total 24
1.4 Service Delivery - Effort monitoring
i. Does the firm carry out a For Yes – 4 Points 4
Capacity planning for each For No – 0 Point
engagement?
ii. Is a process of Budgeting & For Yes – 4 Points 4
Planning of efforts required For No – 0 Point
maintained (hours/days/
weeks)?
iii. Are Budget vs Actual Up to 10% – 0 Point 20
analysis of time and effort
More than 10% and
spent carried out to identify
the costing and pricing? up to 30% – 4
Points
More than 30% and
up to 50% – 8
Points
More than 50% and
up to 70% – 12
Points
More than 70% and
up to 90% – 16
Points
More than 90% – 20
Points
iv. Does the firm deploy For Yes – 8 Points 8
technology for monitoring
For No – 0 Point
efforts spent - Utilisation of
tools to track each activity
(similar to Project
management - Say
timesheets, task
management, etc.)? Note:
DCMM Version 2 may be
referred to arrive at the
Competency Basis Score Basis Max Scores
Scores obtained
technical maturity of the
firm/ CA.
Total 36
1.5 Quality Control for engagements
i. Does the firm have a For Yes – 8 Points 8
Quality Review of all Listed For No – 0 Point
audit engagements as per
para 60 of SQC1? Is there a
document of time spent for
review of all engagements?
ii. Total engagements having Up to 10% – 0 Point 20
concluded to be satisfactory More than 10% and
as per quality review vs No up to 30% – 4
of engagements quality Points
reviewed
More than 30% and
up to 50% – 8
Points
More than 50% and
up to 70% – 12
Points
More than 70% and
up to 90% – 16
Points
More than 90% – 20
Points
iii. No. of engagements without 10% to 30% – 4 20
findings by ICAI, Points
Committees of ICAI and More than 30% and
regulators that require up to 50% – 8
significant improvements Points
More than 50% and
up to 70% – 12
Points
More than 70% and
up to 90% – 16
Points
More than 90% – 20
Points
Competency Basis Score Basis Max Scores
Scores obtained
iv. Documentation of the firm in For the presence of 12
accordance with SQC 1 documentation in
the critical areas of
Ethical require-
ments, Acceptance
and continuance of
client relation-ships
and specific
engagements, and
Engage-ment
performance – 6
Points
For the presence of
documentation in
the areas of
Leadership
responsibilities for
quality within the
firm, Human
resources, and
Monitoring – 6
Points
v. Does the firm have For Yes – 8 Points 8
Accounting and Auditing For No – 0 Point
Resources in the form of soft
copies of archives Q&As,
firm thought leadership, a
dedicated/ Shared Technical
desk?
vi. Is appropriate time spent on For Yes – 12 Points 12
understanding the business, For No – 0 Point
risk assessment and
planning an engagement?
Have risks been mitigated
through performance of
audit procedures?
Total 80
1.6 Benchmarking of service delivery
i. Does the firm follow/ For Yes – 4 Points 4
Competency Basis Score Basis Max Scores
Scores obtained
implement Standard delivery For No – 0 Point
methodology – the adoption
of audit manuals, adherence
to practice standards and
tools?
ii. The number of statutory Less than 5% – 0 0
audit engagements re- Point
worked (filing errors, More than 5% to
information insufficiency, 15%: (-1) Point
wrong interpretation of More than 15% to
provisions, etc.) 30%: (-2) Points
More than 30% to
50%: (-3) Points
More than 50%:
(-4) Points
iii. Number of client disputes Less than 5% – 0 0
(other than fees disputes) Point
and how they are More than 5% to
addressed. 15%: (-1) Point
More than 15% to
30%: (-2) Points
More than 30% to
50%: (-3) Points
More than 50%:
(-4) Points
iv. Is the timing of audit For Yes – 12 Points 12
interactions with For No – 0 Point
management planned in
such a way that integrates
with the auditor’s
requirements so that audit
timelines can be met?
[Review frequency of back-
log, engagement agreed
upon and not commenced,
WIP, etc. (Excl. of client-side
delays)]
Total 16
Competency Basis Score Basis Max Scores
Scores obtained
1.7 Client Sensitisation
i. Awareness meetings and For Yes – 8 Points 8
Knowledge For No – 0 Point
dissemination meetings/
articles/document sharing
with clients including:
1) Updating client on audit
issues, formally-
effectiveness of the
process of
communication with
management and those
charged with
Governance;
2) Updating client on
changes in accounting,
legal, audit aspects,
etc. with client specific
impact; and
3) Follow through on
previous audit observations
and updates to management
and those charged with
Governance.
ii. Monitoring planned hours vs For Yes – 8 Points 8
actual hours across For No – 0 Point
engagement; the focus is on
the existence of a
monitoring mechanism
Total 16
1.8 Technology Adoption
(i) Technology adoption at
Office –
• Internal communication For Yes – 4 Points 4
– chats For No – 0 Point
• Has the firm automated For Yes – 4 Points 4
its office with For No – 0 Point
automated Attendance
Competency Basis Score Basis Max Scores
Scores obtained
System and Leave
management?
• Project or activity For Yes – 4 Points 4
management/ For No – 0 Point
Timesheet
management,
• Digital storage of For Yes – 4 Points 4
records (scan, etc.), For No – 0 Point
• Centralised server/ For Yes – 4 Points 4
Cloud For No – 0 Point
• Digital Library (Own or For Yes – 4 Points 4
ICAI) For No – 0 Point
• Client interaction For Yes – 4 Points 4
(Alerts, updates, For No – 0 Point
availability of
information in website,
etc.),
• Video conferencing For Yes – 4 Points 4
facilities adopted, For No – 0 Point
• Does the firm use only For Yes – 4 Points 4
licensed operating For No – 0 Point
system, software etc.?
• Own E-mail domains, For Yes – 4 Points 4
E-mail usage policies, For No – 0 Point
etc.
• Use of anti-virus and For Yes – 4 Points 4
malware protection For No – 0 Point
tools,
• Data security, etc. For Yes – 4 Points 4
For No – 0 Point
• Cyber security For Yes – 4 Points 4
measures For No – 0 Point
ii. Awareness and Adoption of For Yes – 12 Points 12
Technology for Service For No – 0 Point
delivery – Say, use of Audit
tools, usage of analytical
tools, use of data
visualisation tools or
Competency Basis Score Basis Max Scores
Scores obtained
adoption of an audit tool.
Note: DCMM Version 2 may
be referred to arrive at the
technical maturity of the
firm/ CA.
Total 64
1.9 Revenue, Budgeting & Pricing
i. Whether the client wise For Yes –4 Points 4
revenue is in compliance For No – 0 Point
with the Code of Ethics
(currently fees from one
client should not exceed
40% of total revenue unless
safeguards are put in place)
and once the deferred
clauses of Part A are
implemented this will be
reduced to 15%.
ii. Fee considerations and Yes – 8 Points 8
scope of services should not For No – 0 Point
infringe upon the quality of
work and documentation as
envisaged in SQC 1 under
Leadership is responsible for
quality within the firm.
iii. Adherence to a minimum For up to 50% of the 4
scale of fees standards engagements- 2
recommended by ICAI Points
For More than 50%
of the engagements
– 4 Points
For None – 0 Point
Total 16
Total of Section 1 280
Competency Basis Score Basis Max Scores
Scores obtained
2 Human Resource Management
2.1. Resource Planning & Monitoring as per the firm's policy
i. Does the firm have a For Yes – 4 Points 4
process of Employee/ For No – 0 Point
Resource Planning for the
engagements based on skill
set requirement, experience,
etc.?
ii. Methods/Tools used by the For Yes – 4 Points 4
firm for Resource Allocation For No – 0 Point
(use of spreadsheets, work
flow tools, etc.)
iii. Is there a method of tracking For Yes – 4 Points 4
the employee activity, to For No – 0 Point
identity resource productivity
(e.g., timesheet)?
iv. Does the firm maintain a For Yes – 8 Points 8
minimum Staff to Partner For No – 0 Point
Ratio, Partner to Manager,
Manager to Articles, Client
to Staff ratio, etc.
v. Does the firm monitor the For Yes – 4 Points 4
Utilisation & Realisation rate For No – 0 Point
per employee
vi. Does the firm document the For Yes – 4 Points 4
resource plan for each For No – 0 Point
engagement and file it for
reference during the
engagement?
Total 28
2.2. Employee Training & Development
i. Does the firm have an For Yes – 4 Points 4
employee training policy? For No – 0 Point
ii. Number of Professional 60 hours per year 24
Development hours/days for junior- level: 2
spent (Frequency) as a firm Points for general
training and 6
Competency Basis Score Basis Max Scores
Scores obtained
– per employee points for
specialised
technical training
30 - 60 hours per
year for mid- level:
2 Points for general
training and 6
points for
specialised
technical training
More than 30 hours
for partners: 2
Points for general
training and 6
points for
specialised
technical training
iii. Employees are equipped Use of Analytical 8
with technological skill sets – Tools for the listed
AI, Blockchain, Audit & Data entity, Banks other
analytical tools, etc. and than co-operative
sponsored by the firm to banks (except
develop the same: multi-state co-
1. Knowledge of operative banks)
technological skill sets and Insurance
will be more relevant for Companies audit
large audits (Like Audit engagements:
Engagements of Listed For Yes – 8 Points
entity, Banks other than For No – 0 Point /
co-operative banks NA
(except multi-state co-
operative banks) and
Insurance Companies
etc.). Hence,
the question should be
relevant only for such
audit engagements.
2. The audit Teams should
be aware of Data
Competency Basis Score Basis Max Scores
Scores obtained
Analytics Tools and
comprehend the results
of the tools to adjust the
audit strategy.
3. Technologies like AI
and blockchain may be
considered as an
incremental factor for
differentiation purposes,
if the firms are scored
at the same level.
iv. Whether the firm has a For Yes – 8 Points 8
performance management For No – 0 Point
culture that rewards high
performing employees and
those who demonstrate high
levels of quality and ethics?
Total 44
2.3. Resources Turnover & Compensation Management
i. Does the Firm evaluate a For Yes – 8 Points 8
team composition overall to For No – 0 Point
build the Team Strength -
say, Number of Managers,
Assistant Managers, Paid
Assistants, Article
Assistants, Other Degree
holders?
ii. Does the firm maintain and For Yes – 8 Points 8
monitor the employee For No – 0 Point
turnover ratio and identify
measures to keep it
minimal?
iii. Qualified professionals 10 and above – 20 20
retained by the firm Points
(resources available to a 8 to 9 – 16 Points
partner) 6 to 7 – 12 Points
4 to 5 – 8 Points
Up to 3 – 4 Points
Competency Basis Score Basis Max Scores
Scores obtained
iv. Does the firm evaluate the For Yes – 4 Points 4
Employee relation with the For No – 0 Point
firm (No. of Professionals vs.
No. of years employed with
firm) to identify reasons for
turnover if any?
v. Statutory contributions For Yes – 8 Points 8
wherever applicable, Health For No – 0 Point
Insurance and other
benefits, available in the firm
for staff members and
partners
vi. Does the firm evaluate for For Yes – 4 Points 4
which kind of audits does it For No – 0 Point
have a revolving door
(between different
engagements) for people
below partner level?
vii. Progress of people through For Yes – 8 Points 8
an established framework For No – 0 Point
and time commitment of
Managers and Partners –
Engagement level review
and overall performance
evaluation and rewards
mechanism for differentiated
performance levels
viii. Access and use of For Yes – 8 Points 8
technology, infrastructure, For No – 0 Point
methodology for better
enablement of day-to-day
work / including favorable
remote working policies
ix. Coaching and mentoring For Yes – 8 Points 8
program investment, For No – 0 Point
especially for women
colleagues to enhance the
diversity of audit leaders in
the profession
x. Special policies to provide For Yes – 4 Points 4
people time to rejuvenate For No – 0 Point
Competency Basis Score Basis Max Scores
Scores obtained
especially after busy audit
seasons
xi. Focused policies and For Yes – 8 Points 8
support for staff well - being, For No – 0 Point
engagement and
communication
xii. An established mechanism For Yes – 8 Points 8
to listen to people and their For No – 0 Point
views and suggestions.
Credible Employee survey
and its outcome
demonstrate how well
people are taken care of and
heard.
xiii. Standards of recruiting For Yes – 4 Points 4
people – Assessment For No – 0 Point
methodology, evaluation of
quality and fitment to the job
and culture
xiv. Are the employees of the For Yes – 4 Points 4
firm compensated as per a For No – 0 Point
defined approach where
salary is mapped to the
knowledge and experience
level of the employee?
Total 104
2.4. Qualification Skill Set of employees and use of Experts
i. Number of Professionally Upto 30% – 4 12
qualified members – Points
ACA/FCA More than 30% to
If evaluation is being done 50% – 8 Points
for a firm that primarily offers Above 50% – 12
Statutory and Tax Audit Points
Services then only ACA /
FCA should be considered
for evaluation purposes.
ii. Post Qualification Applicable – 8 8
Certifications obtained from Points
professional bodies or Not Applicable – 0
similar organisations (DISA, Point
Competency Basis Score Basis Max Scores
Scores obtained
IP, etc.)
DISA and IP are courses
that are required in
Information System Audits.
If qualified resource is not
available in the firm, whether
the services of expert are
taken?
Whether all partners have
complied with CPE
requirements of ICAI?
iii. Members with Specialisation Upto 30% – 4 12
courses or Certifications – Points
(Ranking can be based on 30% to 50% – 8
newer areas or international Points
qualification – say, Dip. Above 50% – 12
IFRS or Firm Ind AS / IFRS Points
Accreditation Requirements,
etc.)
Total 32
2.5 Performance evaluation measures carried out by the firm (KPI’s)
i. Does the firm have written For Yes – 8 Points 8
KPIs for performance For No – 0 Point
evaluation of the firm and
partners?
ii. Method for measurement For Yes – 8 Points 8
and evaluation as mentioned For No – 0 Point
above (i) are determined /
specific.
iii. There is a decided For Yes – 8 Points 8
frequency for the evaluation For No – 0 Point
and is consistently applied
iv. Are engagement partners For Yes – 8 Points 8
reviewed based on the For No – 0 Point
review results of the
engagements of each
partner
Total 32
Total of Session 2 240
Competency Basis Score Basis Max Scores
Scores obtained
3 Practice Management – Strategic/Functional
3.1 Practice Management
Does the firm Manage the
following attributes relating
to Assurance partners to
maintain the same at
optimum levels as deemed
fit for the respective
organisations?
i. Does the firm have a For average partner 8
balanced mix of experienced experience of
and new Assurance partners > 5 years
partners? – 4 Points
For average partner
experience of
partners > 10 years
– 8 Points
ii. Is the firm compliant with the For Yes – 8 Points 8
ICAI Code of Ethics, For No – 0 Point
Companies Act 2013 and
other regulatory
requirements in relation to
Professional Independence
and Conflict of Interest?
iii. Is there is a 'whistle blower' For Yes – 4 Points 4
policy? For No – 0 Point
Total 20
3.2 Infrastructure – Physical & Others
i. Number of Branches & Upto 3 – 2 Points 8
Associates and network 4 to 7 – 4 Points
firms and affiliates
8 to 15 – 6 Points
More than 15 – 8
Points
ii. Are branch level activities Centralised – 8 8
Centralised/ Decentralised in Points
accounting, Invoicing, and Decentralised – 4
Competency Basis Score Basis Max Scores
Scores obtained
Payroll processing Points

iii. Physical & Logical Security For Yes – 8 Points 8

of Information are extended For No – 0 Point
and implemented across
locations?
iv. Are there adequate DA tools For Yes – 12 Points 12
and IT infrastructure For No – 0 Point
available and are they being
used for the relevant
assignment?
v. Is the infrastructure For Yes – 12 Points 12
adequate in terms of For No – 0 Point
internet/intranet network
bandwidth/ VPN/Wi-Fi etc.
for remote working?
Total 48
3.3 Practice Credentials
What are the credentials of
the firm that distinguish the
firm or stands as testimony
to the quality of the firm?
i. Is the firm ICAI Peer Review For Yes – 4 Points 4
certified? For No – 0 Point

ii. Empanelment with RBI / For Yes – 8 Points 8

C&AG For No – 0 Point
iii. Is there an advisory as well For Yes – (-5) 0
as a decision, to not allot Points
work due to unsatisfactory For No – 0 Point
performance by the CAG
office?
iv. Have any Government For Yes – (-10) 0
Bodies/ Authorities Points
evaluated the performance For No – 0 Point
of the firm to the extent of
debarment/ blacklisting?
v. Any negative assessment in For Yes – (-5) 0
the report of the Quality Points
 Competency Basis Score Basis Max Scores
Scores obtained
Review Board? For No – 0 Point
vi. Has there been a case of For Yes – (-5) 0
professional misconduct on Points
the part of a member of the For No – 0 Point
firm where he has been
proved guilty?
Total 12
Total of Section 3 80
Grand Total 600
:
Signature

Name of Proprietor/Partner/ :
individual Practicing in own name:

Membership No. of the Signatory :

Mobile No. of the Signatory :

Stamp of Firm :

Date :