Enhancing Audit Quality

Welcome to the Enhancing Audit Quality (EAQ) webpage! Through our EAQ initiative, we share resources and education to help you avoid the most common audit quality issues.
EAQ Video
EAQ transforms audit data into valuable insights and tools to support auditors, auditees and other stakeholders. Watch this video to learn more.
EAQ Highlights Reports

The Enhancing Audit Quality Highlights and Progress Reports detail how the AICPA supports the profession’s commitment to quality through EAQ. View the 2020 Highlights and Progress report for more information on:
- COVID-19 audit implications
- Auditing revenue recognition
- Risk assessment and response
- SOC engagements
- What’s next for EAQ
Resources to Help Your Practice
COVID-19 audit implications

The novel coronavirus is impacting our lives, how we work and the global economy. We’re here to help guide you through this time of uncertainty.
Access resources to help you navigate new challenges related to auditing remotely, risk assessment, communications and reporting and more.
Auditing revenue recognition

FASB’s new revenue recognition standard, ASC 606, is one of the biggest changes to accounting standards in decades. We’ve launched a suite of revenue recognition resources to help you understand ASC 606 and how to audit clients under the new standard, as well as how to provide guidance to them without impairing your independence.
Risk assessment

Identifying, assessing and responding to risks of material misstatement are at the core of every audit. However, a recent survey of peer reviewers found over half of 400 audits they reviewed didn't comply with the risk assessment standards.
This free risk assessment toolkit has resources to help, such as a risk assessment template, an internal inspection aid and a staff training workshop.
Internal control

Obtaining an understanding of a client’s internal control is fundamental to any audit. However, many auditors struggle with the identifying controls, evaluating their design and implementation and testing their operating effectiveness.
This free internal control toolkit has resources to help, such as an internal control over financial reporting tool, process memo template and aid for identifying controls at smaller entities.
Documentation

One of the most common audit quality issues isn’t related to a recently issued standard or a complex area of guidance—it’s a lack of adequate audit documentation.
These free audit documentation resources will help you document appropriately and comply with the standards. The toolkit includes model working papers, a tool for evaluating SOC 1 reports, a training program firms can present to their staff and more.
SOC reporting

The SOC Suite of Services have become a profitable business line for many firms. As more CPAs begin offering these services, we are committed to helping you understand and comply with standards unique to SOC engagements.
With practitioner guidance, tools and other resources, we’re making sure CPAs have access to the resources they need to provide high-quality assurance services.