Final answer:
The partner performing an engagement quality review will not perform a substantial portion of the audit procedures; instead, they focus on assessing the completeness of audit work, determining the adequacy of disclosures, and evaluating the reasonableness of financial statement presentations.
Step-by-step explanation:
The partner performing an engagement quality review plays a critical role in ensuring the quality and integrity of an audit. This individual will review the working papers and financial statements to ensure that the audit was performed in accordance with appropriate standards and that the conclusions are supported by evidence. However, the partner will not perform a substantial portion of the audit procedures as an additional check. This responsibility lies with the audit team that conducted the initial audit work. The engagement quality review partner's role is more about oversight and providing a second level of assurance rather than redoing the work of the audit team.
The engagement quality reviewer will typically:
- Assess completeness of the audit work and sufficiency of the evidence.
- Determine the adequacy of financial statement disclosures.
- Raise questions about the reasonableness of various financial statement presentations.