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"Hot Review" of current audit...is it compuloary?

We have an Audit client whose files have never been "Hot Reviewed"

Recently attended a CPD course on Audit, and it seemed that a "Hot Review" is compulsory at least once every 5 years....is this true?

I am a sole proprietor and this is our only "Audit" client

Any guidence truly appreciated

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avatar
29th Jun 2012 17:57

.

Has no one got any opinion?

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By Locutus
29th Jun 2012 18:11

Not aware that this is true

Although I'm not an active auditor any more.

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avatar
29th Jun 2012 18:15

Why do questions like this get asked on here?

Why do you not ask your Institute about their requirements.

 

No it is not true, at least not for ICAEW members.

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29th Jun 2012 18:23

It may be ...

... that auditors should be inspected every 5 years and the inspectors may apply the guideline that sole practitioner auditors should get their next audit hot reviewed.

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