NRMP
What does NRMP stand for
Network Risk Management Policy
What day(s) is/are MYVN RISQ Consultation being held?
Tuesday and Thursday
What does QMSE stand for
Quality Management for Service Excellence
Who is the current partner responsible for Independence?
Siew Kar Wai
Who is the head of OGC
Guess the word:
R_v_ _w & C_ _s_l_ _t_ _n
Review and Consultation
Unscramble it:
sheraltionip kchec
Relationship Check
Who is our Quality Leader?
Tan Chin Yee
What does PICT stand for?
Personal Independence Compliance Testing
What should you ask the vendor to sign if we need to share confidential information to the vendor before onboarding them?
a. Terms of Business
b. JBR agreement
c. IFS Non-Disclosure Agreement (NDA)
d. Letter of Undertaking
c. IFS Non-Disclosure Agreement (NDA)
In which NRMP does the MYVN Higher Risk Criteria sits?
NRMP 22.10.004
When do you need to complete engagement acceptance for PLC?
EA for PLC need to be completed by AGM date
What does ISQM 1 primarily focus on?
A. Auditing Standards
B. Quality management for audit firms
C. Data protection
D. Quality control for financial reports
B. Quality management for audit firms
True or False?
Referred Audit Work Engagements (RAWE) needs to be recorded in Central Entity Services (CES)
True
Who is not part of the OGC team?
A. Jason Chin
B. Intan Illani
C. Sue Teng Leow
D. Ester Jia En Koh
C. Sue Teng Leow
True or False?
When the net unadjusted difference exceed 5% PBT for a PIE, you need to consult RMP?
FALSE:
NRMP 29 has recently been updated to require mandatory consultation when:
Net unadjusted difference is greater than OM
What actions should the Engagement Team not make when there is a restatement due to a material error?
A. raise a supplemental EA immediately for a potential or confirmed restatement
B. raise a supplemental EA immediately for confirmed restatement only
C. consult their local Risk Management Partner and Technical Panel
D. engage with the previous Engagement Leader to understand the basis taken or judgement made
B. raise a supplemental EA immediately for confirmed restatement only
True or False?
ET are able to completely rely on the firm's SOQM in relation to the quality management at engagement level.
False
True or False?
QRP is not a member of the engagement team but can serve as a subject matter expert, or as a client service or relationship partner.
False
You can find the TOB, TOB Approval framework, NDA template, and NDA Escalation Framework in which database?
A. Network Risk Management Policy Hub
B. Raise SNow ticket
C. AskRISQ
D. MYVN RISQ GSite
D. MYVN RISQ GSite
NRMP 45 was recently issued in November
True or False?
A client risk assessment is required, even if the client has been accepted by other PwC firm.
True
The individuals ultimately responsible and accountable for the firm's system of quality management (SoQM) are: (select all that applies)
A. Territory Assurance Leader
B. Quality Leader
C. Quality Committee
D. Territory Senior Partner
A. Territory Assurance Leader
D. Territory Senior Partner
To update the information on CES, the audit team may.....
A. raise SNow ticket
B. reach out to IO team via GChat/Teams
C. submit a support case in Salesforce
D. reach out to IO team via Email
C. submit a support case in Salesforce
When faced with a Troublesome Practice Matters (TPM), I should not:
A. Resolve it myself
B. Disclose working papers to client/other party
C. Destroy/remove/alter relevant documents
D. All of the above
D. All of the above