How does the Auditor plan for an Audit of Financial Statements?
Planning an audit is one of the most integral parts of the audit. Without a sufficient planning programme on the auditor’s part, there is a significant risk that a material misstatement (or many material misstatements) will be missed. This will lead to the auditor expressing an inaccurate audit opinion, in addition to additional implications. Planning […]
Improving Audit Quality 1: An Overview
Back to N Years Ago When I was younger (wow, this makes me feel so old), audit quality was not really a “thing.” I watched my superiors perform audits they believed to be sufficient, and my colleagues and I were taught to follow in their footsteps. We conducted what we believed to be good audits […]
Adoption of ISQM 1, ISQM 2 and ISA 220 (Revised)
1. The Malaysian Institute of Accountants has approved the adoption of: ✅ International Standard on Quality Management (ISQM) 1 Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements, ✅ ISQM 2 Engagement Quality Reviews, ✅ International Standard on Auditing 220 (Revised) Quality Management for an […]
