According to the International Auditing and Assurance Standards (IAASB), Quality Control includes the policies and procedures adopted by a firm to provide reasonable assurance that all audits performed by the firm are conducted in accordance with the basic objectives and principles governing an audit, as set out in the International Standards on Auditing.
The IAASB considers the following as factors that may affect the robustness of the financial statements and therefore the quality of the audit: business practices, corporate governance requirements, the applicable financial reporting framework, audit regulation, industry, information technology.
And also the general economic environment, the educational environment for accountants and auditors and respect for the role of the audit and broad cultural issues, the following describes the above factors in more detail.
The culture within an audit firm, bearing in mind that the environment in which an audit team works can significantly affect the mindset of the staff and therefore the way the work is executed.
The knowledge, experience and personal attributes and values of the audit partner and other personnel including values of integrity, objectivity, rigor and skepticism that enable them to make reliable judgments.