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Cold File Reviews
(Quality Control File Reviews)

Cold file reviews are undertaken after the assignment has been completed.

They cover a review of the following:

  • Financial statements
  • Permanent File
  • The Review and Finalisation Procedures
  • All audit areas that are above performance materiality
  • Any immaterial areas (if you request it)

They are a vital part of your practice’s on-going quality control procedures, they are also sometimes a specific requirement of your Regulator.

Metis Compliance Limited can undertake cold reviews on all types of audit assignments to allow you to comply with ISQC1 and ISA 220 or any requirement imposed by your regulator. We can also undertake cold file reviews on assurance files, ‘client money audits’ or accountancy assignments.

Whilst these reviews are not usually time sensitive, we would try wherever possible to meet your deadlines and would aim to undertake them within 5 working days of a request being made.

Please note it is not appropriate for Metis to undertake a cold file review where we have previously undertaken a hot file review, an Engagement Quality Control Review, where we have offered a mentoring service or where we have given significant technical advice.

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