Supporting audit quality

We deliver guidance and support for your audit firm for conducting high quality audits, support your firm quality management & risk assessment system

And we help your firm to comply with ISQM 1 & ISA 220 requirements

As ISQM 1 replaces ISQC 1. and the requirements of the new standard are extensive and represent a very significant change from ISQC 1.

ISQM 1 introduces a new risk-based approach to quality management at the firm level. This requires the firm to establish quality objectives, identify and assess quality risks, specifically with regard to the nature and circumstances of the individual firm and its engagements, and design and implement responses to address those risks. This is a much more forward-looking, proactive approach than that currently required under ISQC 1, which focuses more on policies and procedures. It is also expected to be an iterative approach that will require revisiting and continuous improvement.