Engagement Quality Review

In: Business and Management

Submitted By ahamood
Words 3571
Pages 15


Engagement quality review, also known as concurring partner review or second partner review, is not a new practice and was first mandated in 1977, but it has most recently been required by the Sarbanes-Oxley Act of 2002 for each registered public accounting firm to "provide a concurring or second partner review and approval of [each] audit report (and other related information), and concurring approval in its issuance...." It has been further clarified in the Public Company Accounting Oversight Board’s Auditing Standard No. 7 (AS No. 7), that was approved by the SEC in January 2010. Early guidance on engagement quality reviews was vague, and the practice was not standardized from firm to firm. The practice involves a second partner to review the engagement and serves as an internal check for engagement quality for the audit firm. Varying degrees of partner qualifications, involvement, responsibilities, scope, and documentation requirements existed. The first section of this paper explores the evolution of this practice in the standards and the surrounding auditing profession climate leading to the new standard, AS No. 7, adopted in 2009 by the PCAOB. In the second section, various research findings are presented and discussed. Finally, we draw conclusions on the current need for engagement quality reviews in the auditing profession based on our research.


Many firms instituted concurring partner reviews over a decade before it was mandated by the Security and Exchange Commission’s Practice Section in 1977; however, the nature and scope of the review varied considerably from firm to firm (Tucker & Matsumura, 1997). In 1977, the American Institute of Certified Public Accountants’ Securities Exchange Commission Practice Sections’ (SECPS) Reference Manual required concurring partner review…...

Similar Documents

Standards for Quality Review

...SCHOOL S © AdvancED® 2011 1 Standards for Quality Schools AdvancED Standards for Quality Schools Standard 1: Purpose and Direction The school maintains and communicates a purpose and direction that commit to high expectations for learning as well as shared values and beliefs about teaching and learning. Standard 2: Governance and Leadership The school operates under governance and leadership that promote and support student performance and school effectiveness. Standard 3: Teaching and Assessing for Learning The school’s curriculum, instructional design, and assessment practices guide and ensure teacher effectiveness and student learning. Standard 4: Resources and Support Systems The school has resources and provides services that support its purpose and direction to ensure success for all students. Standard 5: Using Results for Continuous Improvement The school implements a comprehensive assessment system that generates a range of data about student learning and school effectiveness and uses the results to guide continuous improvement. © AdvancED® 2011 1 Standards for Quality Schools Standard 1 Purpose and Direction The school maintains and communicates a purpose and direction that commit to high expectations for learning as well as shared values and beliefs about teaching and learning. IndIcator 1.1 The school engages in a systematic, inclusive, and comprehensive process to review, revise, and communicate a school purpose......

Words: 1099 - Pages: 5

Employee Engagement

...they scrutinize the heart of employee engagement, there would be a significant change in the reduction of high staff turnovers, employees’ satisfaction, high staff performance, which will positively impact guests’ count and satisfaction. One of my sources, titled, “5 Steps to Employee Engagement: Improving your goals for organizational success,” (Harrison, Grey Alice, 2012). The author specifically focused on how to improve employee engagement. She states, “According to Kenexa research, 72 percent of American workers are not fully engaged, which means that these employees are not aligned with organizational goals, their productivity is lower and attrition is likely.” “Employees may leave as soon as an opportunity presents itself, taking valuable skills and knowledge with them.” Problem Statement With careful analyses of the hotel’s issues, the problem statement that comes to mind is, how can Sunset Jamaica Grande Resort and Spa improve employee engagement? Schermerhorn defines employee engagement as, “a strong sense of connection with the organization and passion for one’s job.” (pg. 63) Schermerhorn also said that, “Active employee engagement shows up as a willingness to help others, to always try to do something extra to improve performance, and to speak positively about the organization.”(pg. 63) Currently, most of the food and beverage staff has been employed for a minimum of four years, expecting that the type of employee engagement that they have experienced......

Words: 3274 - Pages: 14

Employee Engagement

...Organizational Culture and Communication on Employee Engagement” Submitted by Swatee Sarangi Under the Guidance of: Dr. R.K. Srivastava, PhD Director General, Sterling Institute of Management Studies Professor Emeritus, K.J. Somaiya Institute of Management Studies & Research Research Guide, SNDT University Submitted to SNDT University For The Degree of Doctor of Philosophy In Management Thesis Title : “Impact of Organizational Culture and Communication on Employee Engagement”. Name of the Candidate : Research Guide : Swatee Sarangi Dr. R.K. Srivastava Director General, Sterling Institute of Management Studies Professor Emeritus, K.J. Somaiya Institute of Management Studies & Research Research Guide, SNDT University Place of Research : K.J. Somaiya Institute of Management Studies & Research, Mumbai Registration No: Ref.No. Acad : RRC-26/2009-10/901 Signature of Candidate: Signature of Guide : TABLE OF CONTENTS CHAPTER 1: INTRODUCTION 1.1 Introduction to the Study 1.2 Employee Engagement 1.3 Drivers of Employee Engagement 1.4 Indian Banking Industry 1.4.1 Nationalization 1.4.2 Liberalization 1.4.3 Co-operative Banks 1.4.4 The Current Scenario 1.5 Opportunities and Challenges 1.6 Need of the Study 1.7 Key Concepts Explained in the Study 1.7.1 Organizational Culture 1.7.2 Organizational Communication 1.7.3 Employee Engagement 1.8 Benefits of the Study CHAPTER 2: LITERATURE REVIEW 2.1 Employee Engagement 2.2 Organizational Culture 2.3......

Words: 13631 - Pages: 55

Employee Engagement

...------------------------------------------------- Wiley (2012:2) identifies employee engagement as: 'The extent to which employees are motivated to contribute to organisational success, and are willing to apply discretionary effort to accomplishing tasks important to the achievement of organisational goals'. In contrast to this Swarnalatha and Prasanna (2013:52) claim that: 'Employee Engagement is a measurable degree of an employee's positive or negative emotional attachment to their job, colleagues and organisation that profoundly influences their willingness to learn and perform is at work'. This description opposes that engagement is distinctively diverse from employee motivation, organisational culture and employee satisfaction. The reality is that there is no one agreed definition of employee engagement as there are over 50 definitions that all have variations between them. Although recent reviews by researchers show that there is a similarity in the key components of the varied definitions, these common components that are acknowledged include employee association with organisational goals and a compliance to exert discretionary effort, commitment, enthusiasm for work and organisational pride (Schneider et al, 2009). In the recent years there has become a gradual interest in employee engagement. Firstly the reasons for this is the correlation with organisational performance. By improving employee engagement it can beneficial to companies in order to improves......

Words: 3268 - Pages: 14

Employee Engagement

...Journal of Management Research Vol. 14, No. 1, Jan.–March 2014, pp. 57–67 Employee Engagement Does Individual Personality Matter Meenakshi Handa and Aastha Gulati Abstract The purpose of the present study is to explore the relationship between personality and employee engagement amongst frontline personnel in the organized retail industry in India. In particular, the study seeks to examine the relationship between two personality traits, extraversion and conscientiousness with engagement amongst frontline employees. The Utrecht work engagement scale (2003) and Big Five Personality scale (McCrae and Costa, 1989) have been used for this purpose. Primary data was collected from 333 frontline employees working in different retail formats. The study finds that there is considerable scope for improvement in the level of employee engagement amongst the frontline personnel in the organized retail industry. There, however does exist a positive relationship between the extraversion and conscientiousness personality traits and employee engagement. Based on the findings, the paper recommends measures for improving employee engagement levels through a better fit between employee personality and the retail work environment. Keywords: Employee Engagement, Big Five Personality Traits, Extraversion, Conscientiousness, Retail Industry, India Human capital is a vital asset as it is employee effort and performance which finally determines business success. It is therefore......

Words: 2850 - Pages: 12

Employee Engagement

...Although there is no single and generally accepted definition for the term employee engagement, several individuals and professionals have come up with certain understanding of the term. According to Kevin Kruse a contributor on Forbes Magazine he defines employee’s engagement as an “emotional commitment the employee has to the organization and its goals.” (Kruse, 2012) This commitment enables employee’s perform above expectation. According to Kevin Kruse, because employees care about their organizations, they are more productive. In addition, they give better service and stay longer in their jobs. As a result of increased productivity, goods and services are carried out in an efficient and effective manner thereby creating customer loyalty, increasing customer’s happiness, which drives sales and increases profit overtime (Kruse 2012). Additionally, employee engagement is also seen as “a positive attitude held by the employee towards the organization and its value (Robinson et al, 2004) On the other hand employee engagement can be seen as a desire and duty - the willingness to invest time and increase one’s discretionary effort to help the organization succeed, which is beyond simple satisfaction with the employment arrangement or basic loyalty to the employer (Blessing White, 2008; Erickson, 2005; Macey and Schnieder ,2008). On the other hand, organizational viability means that an organization as the potential and ability to remain in business over a long period of time...

Words: 1393 - Pages: 6


...Introduction Engagement at work was conceptualized by Kahn, (1990) as the µharnessing of organizational members¶ selves to their work roles. In engagement, people employ andexpress themselves physically, cognitively, and emotionally during role performances.The second related construct to engagement in organizational behavior is the notion of flow advanced by Csikszentmihalyi (1975, 1990). Csikzentmihalyi (1975) defines flow asthe µholistic sensation¶ that, people feel when they act with total involvement. Flow isthe state in which there is little distinction between the self and environment. Whenindividuals are in Flow State little conscious control is necessary for their actions.Employee engagement is the thus the level of commitment and involvement an employeehas towards their organization and its values. An engaged employee is aware of businesscontext, and works with colleagues to improve performance within the job for the benefitof the organization. The organization must work to develop and nurture engagement,which requires a two-way relationship between employer and employee.¶ Thus Employeeengagement is a barometer that determines the association of a person with theorganizationEngagement is most closely associated with the existing construction of job involvement(Brown 1996) and flow (Csikszentmihalyi, 1990). Job involvement is defined as µthedegree to which the job situation is central to the person and his or her identity (Lawler &Hall, 1970). Kanungo (1982)......

Words: 2585 - Pages: 11

Employee Engagement

...[pic] Work-life balance, employee engagement and discretionary effort A review of the evidence March 2007 Literature review by Dr Mervyl McPherson of the EEO Trust. Extracts from this publication may be copied and quoted with acknowledgement. ISBN No: 0-9582233-4-3 Equal Employment Opportunities Trust PO Box 12929 Penrose Auckland New Zealand Phone: 64 9 525 3023 Fax: 64 9 525 7076 Table of Contents Preface 3 Executive summary 4 1.0 Introduction 6 2.0 Definitions and evidence of relationships 6 2.1 Work-life balance 6 2.1.1 Productivity 7 2.1.2 Relationship between work-life balance and productivity 8 2.2 Workplace/work-life culture 11 2.2.1 Relationship between work-life balance and workplace culture 12 2.3 Discretionary effort and employee engagement: going the extra mile 16 2.3.1 Relationship between discretionary effort/employee engagement and productivity/profitability 20 2.3.2 Relationship between work-life balance and discretionary effort 21 2.3.3 Relationship between workplace culture and discretionary effort 23 2.4 Summary of inter-relationships of key factors 24 3.0 Changing a workplace culture 26 3.1 Case studies of culture change 27 4.0 Conclusion 29 5.0 References 30 Preface Employee engagement has been identified as critical to competitive advantage in a labour market where skilled,......

Words: 10548 - Pages: 43

Employee Engagement

...A STUDY ON EMPLOYEE ENGAGEMENT IN DECISION MAKING PROCESS IN NISSAN Dr.J.Francis Mary, Mrs.V.Nagachitra, Director, M.Phil Research Scholar, Department of Management Studies, Department of Management studies, Shrimati Indira Gandhi College, Shrimati Indira Gandhi College, Tiruchirappalli-2. Tiruchirappalli-2. AN ABSTRACT Employee Engagement is the level of commitment of an employee towards the organization. An Engaged Employee is aware of business context and works with peers to improve performance within job and also for the welfare of the organization. Engagement is the positive attitude held by the employee towards the organization. The paper focus mainly on employee engagement and its importance in decision making process and steps taken by the company to make the employee engaged towards the success of the organization. The employees are engaged in decision making it will increase job satisfaction, level of participation and reduce intention to quit the organization by the employees. Now-a-days employees engagement in decision making is very important and seeks benefit to both organization as well as to the......

Words: 2697 - Pages: 11

Employee Engagement

...Employee Engagement The idea of employee engagement is relatively new to researchers and the explanation of this construct is fairly inconsistent. Definitions of engagement vary based on the study performed and the proposed factors affecting engagement differ from one article to the next. While the theories of this construct may be blurred, many companies are beginning to see the clear picture – an engaged employee is a valuable, productive asset that can help the organization achieve its goals. This paper defines employee engagement as described in three articles and compares the results of these studies to provide recommendations on how organizations can develop an engaged workforce. Article 1 – Impact of HR Practices on Employee Engagement Defined in the first article, employee engagement is the extent to which an employee’s intellectual & emotional commitment help an organization achieve its desired results. It is the motivation and emotional connection an employee has to his or her job. The authors of this study further comment that employee engagement is the “blistering issue of modern business environment” (Sardar, Rehman, Yousaf, Aijaz 2011). The authors recognize that there are multiple definitions and factors of employee engagement. However, there is an overarching theme that organizations expect their employees to be dedicated to and have a positive attitude toward their work. Additionally, employees should take it upon themselves to further their own......

Words: 2186 - Pages: 9

Nhtsa Quality Review

...Corporate Capability Statement Quality Review of EMS Performance Measure Data Solicitation No.: 2012-0100 Submitted To: U.S. Department of Transportation National Highway Traffic Safety Administration Attn: Lloyd S. Blackwell 1200 New Jersey Avenue, SE Washington, DC 20590 lloyd.blackwell@nhtsa.dot.gov Submitted By: Econometrica, Inc. 4416 East-West Highway Suite 215 Bethesda, Maryland 20814 DUNS Number: 196693170 TIN: 52-2108043 November 30, 2011 November 30, 2011 Lloyd S. Blackwell U.S. Department of Transportation National Highway Traffic Safety Administration 1200 New Jersey Avenue, SE Washington, DC 20590 Reference: Sources Sought Notice; Solicitation No. 2012–0100; Quality Review of EMS Performance Measure Data. Dear Mr. Blackwell: Econometrica in partnership with Traffic Safety Analysis Systems & Services (TSASS), Inc., is pleased to submit a Corporate Capability Statement in response to the above-referenced Sources Sought Notice. We believe we offer the Department of Transportation (DOT) highly qualified expertise and capabilities that will benefit DOT in future work projects. Econometrica and TSASS are small businesses, and TSASS is veteran-owned. If you wish to discuss any aspect of this submission, please feel free to contact me at (301) 657-8311. Thank you for your consideration of Econometrica. Sincerely, Econometrica, Inc. Cyrus Baghelai President/CEO Table of......

Words: 4925 - Pages: 20


...Appraisal on Employee’s Engagement in an Organization Dr.A Selvarasu Ph.D Professor of Marketing Dept. of Business Administration Annamalai University, Chidambaram Tamilnadu aselvarasu@gmail.com 1,2 N Subbu Krishna Sastry BSC (PME) MBA(HRM)(Ph.D) Professor Sarvodaya Evening College Deviah Park Sreeramapuram,Bangalore, Karnataka,India 2 Doctoral Research Scholar Bharathiar University Coimbatore, Tamilnadu oviansastry@gmail.com 1 Abstract: The Performance appraisal is one of the most important human resource management practices as it yields critical decisions integral to various human resource actions and outcomes. The purpose of this paper is to explore the relationship between perceptions of performance appraisal fairness and employee engagement in the business organization context. In this rapid-cycle economy, business leaders know that having a high-performing workforce is essential for growth and survival. They recognize that a highly engaged workforce can increase inno¬vation, productivity, and bottom-line performance, while reducing costs related to hiring and retention in highly competitive talent markets. The work climate and job characteristics have a differential effect on employee engagement. Both job and organization resources (performance feedback, autonomy, development opportunities, task variety, welfare, and support from line manager, colleagues and senior management) are linked to positive employee engagement of all types, and......

Words: 7799 - Pages: 32

Employee Engagement

...Co un Corporate Leadership Council Driving Performance and Retention Through Employee Engagement A Quantitative Analysis of Effective Engagement Strategies cil Te le co nfe re nc e Road Map for the Discussion A Unique Point in Time Sizing the Opportunity The Voice of the Workforce Reframing the Organization’s Response The Evolving Employment Contract Source: Corporate Leadership Council 2004 Employee Engagement Survey. © 2004 Corporate Executive Board 1 What Is Employee Engagement? Competing frameworks and definitions… ...contradicting advice… …and widely differing claims for ROI… Sample Engagement Definitions Sample Engagement “Advice” Claimed Benefits of Engagements • Engagement is a positive emotional connection to an employee’s work • Engagement is affective, normative, and continuance commitment • Engaged employees are inspired to go above and beyond the call of duty to help meet business goals • Become a “great place to work” through building trust in colleagues and ensuring employee pride and enjoyment • Increase total shareholder return by up to 47 percent • Segmentation is the key to managing employee commitment and productivity • Better customer feedback • Great managers are key to achieving an engaged workforce • Higher sales • Reduce absenteeism • Less shrinkage of inventory • To achieve motivation, give the employee a “kick in the pants” …lead to......

Words: 1155 - Pages: 5

Employee Engagement

...Employee engagement August 2011 Issue 6 Employee engagement August 2011 APS Human Capital Matters: Employee engagement August 2011, Issue 6 Editor’s note to readers Welcome to the sixth edition of Human Capital Matters—the digest for time poor leaders and practitioners with an interest in human capital and organisational capability. This edition focuses on the concept of employee engagement and its application to the public service workforce. The contribution of employee engagement to organisational performance is central to many of the human capital reform initiatives advocated in Ahead of the Game: Blueprint for the Reform of Australian Government Administration. Importantly, there is an open question on whether the features of employee engagement in the public service differ from that of other organisations. The Australian Public Service Commission is working with other agencies on clarifying not only the key features of APS employee engagement but also what contribution engaged employees make to enhancing organisational capability. The concept of staff engagement has an enormous amount of currency in the business world today; for many the pursuit of ‘engaged’ staff is seen as an end in itself. But there are a broad range of definitions and interpretations of employee engagement in the literature: some are heavy with psychological theory while others link employee views and organisational strategy. However, there are common themes: for example, engagement is......

Words: 4326 - Pages: 18

Customer Engagement

...Customer engagement Customer engagement (CE) is the engagement of customers with one another, with a company or a brand. The initiative for engagement can be either consumer- or company-led or the medium of engagement can be on or offline. CE aims at long-term engagement, encouraging customer loyalty and advocacy through word-of-mouth. Online customer engagement is qualitatively different from offline engagement as the nature of the customer’s interactions with a brand, company and other customers differ on the internet. Leveraging customer contributions is an important source of competitive advantage – whether through advertising, user generated product reviews, customer service FAQs, forums where consumers can socialise with one another or contribute to product development. Customer engagement is about encouraging your customers to interact and share in the experiences you create for them as a business and a brand. When executed well, a strong customer engagement strategy will foster brand growth and loyalty. NEED: CE-marketing is necessitated by a combination of social, technological and market developments: 1. Businesses are losing the power to dictate the communications agenda 2. Decreasing brand loyalty BUSINESS TO BUSINESS CONTEXT: Customer Engagement in a B2B (business to business) marketing context would typically include a collection of the following marketing programs: 1. Customer Advisory Board or Council 2. Customer Reference Program 3. Executive......

Words: 2943 - Pages: 12

Francis D. K. Ching, Architectural Graphics, 6th Ed PDF (digital) | Skeleton Soldier Couldn’t Protect The Dungeon | Microbiology (Tortora), Chapter 4