THE period spanning from January to April 15 each year is commonly known as the 'audit season' in the Philippines. In anticipation of this busy period, audit firms initiate their hiring and training processes for competent professional staff as early as November and December.

Two critical components of the International Standard on Quality Management, namely Engagement Performance and Resources, emphasize the necessity for audit firms to maintain an ample supply of skilled professional staff capable of delivering high-quality audit services. This brings to light the pivotal question: Do we possess a sufficient number of competent professional staff, with a particular emphasis on competency?