The completion gates for an ISA audit, as they stood for Ikeja Polymers when the partner signed the report on 27 March 2026. Other kinds of engagement have their own gates, and optional gates appear when a feature is in use (for example the group gates, or the SQMTrove quality review gate when the link is on).
| # | Gate | Standard | For Ikeja Polymers |
|---|---|---|---|
| 1 | Acceptance or continuance approved by the engagement partner | ISQM 1.30; ISA 220.22 | Approved by Adaeze Nwosu on 2026-01-12 |
| 2 | Engagement letter signed for this period | ISA 210.9-10 | Signed by the client on 2026-01-13 |
| 3 | Independence confirmed by every team member | IESBA Code; ISA 220.16-21 | 5 team member(s) confirmed |
| 4 | Materiality, performance materiality and trivial threshold documented | ISA 320.10-14 | Overall 21,017,500, performance 15,763,125 |
| 5 | Risks of material misstatement assessed at assertion level | ISA 315.28-37 | 86 risk(s); 4 significant |
| 6 | Every significant risk has a specific substantive response | ISA 330.21; ISA 240.28 | 4 significant risk(s) responded to |
| 7 | All procedures completed and reviewed | ISA 220.30-31; ISA 230.9 | 135 procedures and 24 working papers prepared and reviewed |
| 8 | All review notes cleared | ISA 220.31 | All review notes cleared |
| 9 | Uncorrected misstatements evaluated | ISA 450.10-12 | Uncorrected -10,300,000 against overall materiality 21,017,500 |
| 10 | Signed written representations obtained | ISA 580.9-14 | Dated 2026-03-26 |
| 11 | Subsequent events reviewed to the report date | ISA 560.6-7 | Reviewed |
| 12 | Going concern concluded | ISA 570 (Revised) | Conclusion: no uncertainty |
| 13 | Required communications with TCWG made | ISA 260.14-17; ISA 265.9 | Sent 2026-03-23 |
| 14 | Engagement quality review complete (where required) | ISQM 2.26-27; ISA 220.36 | Completed by Folake Adeyemi on 2026-03-25 |
| 15 | Engagement partner approval of the auditor's report | ISA 220.40; ISA 700 | Materiality, risks, misstatements and report approved |
| 16 | Engagement completion checklist signed | ISA 220; ISA 230; ISQM 1 | Ready |
| 17 | Draft financial statements agree to the adjusted trial balance | ISA 700 | All 6 tie-out checks agree |
| 18 | Data analytics runs concluded | ISA 500 / ISA 520 | 3 run(s) concluded |
| 19 | Significant accounts, relevant assertions and inherent risk assessed (ISA 315) | ISA 315 (Revised 2019) | 14 significant area(s); 0 material but not significant |
| 20 | Identified or suspected fraud responded to | ISA 240 (Revised).55-59, 64-68 | Advisory for this period (ISA 240 (Revised) not applied): 1 matter(s) not yet evaluated and signed off by the manager and engagement partner: FM-01 |
| 21 | Fraud and going concern stand-back concluded | ISA 240 (Revised).54; ISA 570 (Revised 2024) | Advisory for this period (ISA 240 (Revised) not applied): The engagement partner has not concluded the fraud and going concern stand-back |
| 22 | FRC registration of the firm and the engagement partner | FRC Act 2011 s.41–42; FRC Audit Regulations 2020, reg. 11(4) | Firm and engagement partner registered |
| 23 | Disclosure checklist complete and reviewed | ISA 700.13–15; ISA 450 | 202 item(s) resolved and reviewed |
| 24 | Engagement quality review completed in SQMTrove | ISQM 2.24(b); ISA 220 (Revised).36 | SQMTrove (E-00001) shows the engagement quality review completed on 2026-03-25 ([email protected]). |