The Practice Review programme is conducted pursuant to By-Law Part II Section 550: Quality Assurance & Practice Review.

The practice review framework requires all audit firms to submit to practice review. The basis of practice review is based on the risk approach and consequently, the selection of audit firm for practice review is determined by a number of risk factors which are embedded in the profile of the practitioner and his audit firm as well as risks arising from other sources such as external parties who may have been afflicted and as a result suffered loss or damages through reliance on the work of auditors.