Professional and Ethical Standard 3

Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements


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Deals with a firm’s responsibilities to design, implement and operate a system of quality management for audits or reviews of financial statements, or other assurance or related services engagements.

Applicable for periods as indicated. Versions prior to the previous version can be found on the archive page.

  • PES 3 – Periods beginning on or after
    15 Dec 2025

    Date of issue: Jul 2021

    Date compiled: Nov 2025

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New version not yet mandatory

  • PES 3 – Periods beginning on or after
    15 Dec 2026

    Date of issue: Apr 2026

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    Additional materials

    PES 3 marked – Periods beginning on or after 15 Dec 2026

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Previous version

  • PES 3 - Equivalent to International Standard on Quality Management 1 (ISQM 1) – Periods beginning on or after 15 Dec 2023

    Date of issue: Jul 2021

    Date compiled: Jun 2023

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Standards and guidance