Author(s): Shaher Falah Al-Aroud, Saleh Mohammed Al-Sayyed, Hanan Ali Alawawdeh
The purpose of this International Standard on Auditing (ISA) (220) is to establish standards and provide guidance on specific responsibilities of firm personnel regarding quality control procedures for audits of historical financial information, including audits of financial statements. This ISA is to be read in conjunction with parts A and B of the International Federation of Accountants (IFAC) code of ethics for professional accountants. This study sought to identify effect of quality control standard 220 in audit of financial statements. To achieve the study goals and for the purpose of collecting the necessary data, a questionnaire was developed and distributed on external auditors. The sample size of the study was (84) respondents. Data was analyzed using (Statistical Package for the Social Sciences (SPSS)). The study found that showed that quality control standard 220 (leadership responsibilities for audit quality, relevant ethical requirements, acceptance and continuance, assignment of engagement, engagement performance, monitoring documentation) was effect in audit of financial statements.