Audit Quality - Root Cause Analysis

Objectives

ISQM 1 (the IAASB’s international quality management standard) requires that Root Cause Analysis (RCA) is performed whenever a deficiency is identified in the monitoring activities (eg cold file reviews). But do you really understand how to undertake a root cause analysis and drive quality improvements in your audits?

Key topics

• What root cause analysis (RCA) is
• When RCA is required
  • What is a finding and what is a deficiency.
• How to undertake RCA
  • Asking “Why, why, why?”
  • Considering category of problems identified
  • Identifying solutions to the root causes
  • Recording and tracking implementation of solutions
  • Examples to illustrate the process.

Who should attend

Audit partners and managers, in particular:

• Those with responsibilities for monitoring quality within the System of Quality Management for audit and those who are expecting to undertake or supervise root cause analysis.
• The person with ultimate responsibility for the system of Quality Management for audit, which is the most senior person in the practice.
• Those carrying out cold file reviews who wish also to be able to conduct root cause analysis.
• Partners in other areas of the business with a responsibility for quality will also find the course useful.