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The Engagement Quality Control Reviewer (EQCR) acts as an independent gatekeeper of audit integrity, objectively evaluating significant judgments before an audit report is issued. To combat global audit failures, India is transitioning to SQM 1 and SQM 2 by April 2026, mandating a proactive, risk-based system of quality management. Under SQM 2, an EQCR must possess technical competence, absolute objectivity, and adequate time. Although the EQCR rigorously scrutinizes high-risk areas across the audit's lifecycle, ISA 220 (Revised) asserts that the Engagement Partner retains ultimate accountability for overall audit quality. Ultimately, robust EQCR involvement ensures professional skepticism and bolsters stakeholder trust.
1. INTRODUCTION: THE EVOLVING FACE OF AUDIT OVERSIGHT
In the realm of statutory audits, audit quality remains the single most critical determinant of stakeholder trust. As corporate reporting grows in complexity and stakeholder expectations intensifies, the audit process is undergoing profound transformation. Amidst these shifts, the Engagement Quality Control Reviewer (EQCR) has emerged as a cornerstone of professional assurance and credibility.
The engagement quality control reviews (EQC reviews) ensure that significant audit judgments, especially in high- risk or contentious areas, undergo an indepe
