Audit Quality Management outreach details
We think it's important you know about the proposed revisions to the audit quality management standards—for all firms and audit engagement teams. These will change how you manage quality and will likely require increased effort from you. They could also affect your organisational structures and operations and require greater leadership by engagement partners in managing and achieving quality engagements.
We want to provide you with the chance to work through the proposed new quality management system set out in ED ISQM 1 and we want to discuss and identify possible quality risks and responses with you.
We encourage all audit practitioners to consider attending one of these workshops. Here you'll get to understand the proposals and get a chance to give us feedback on possible implementation difficulties and areas where you would need further guidance.
We especially want to hear from sole practitioners and practitioners from smaller audit firms to try and understand if and how the proposals in the draft standard can be scaled to fit your circumstances.
- Webinar – targeting all interested stakeholders to provide an overview of the changes
- Workshops – targeting SMPs to work through the details of revisions to the proposed system of quality management.
- Follow up call with SMPs – to receive any further feedback subsequent to attending the workshops
- Roundtable – targeting larger audit firms to receive your feedback on the proposals
We look forward to you participating in these important events for auditors!