ISQC 1: Audit Firms must ensure that their Audits adhere to Quality Standards
The purpose of this is to reduce the RISKS of: 审计事务所必须确保他们的审计工作遵守质量标准，其目的是减少以下的风险： There are 2 Different Quality Control Standards 有两种不同的质量控制标准 [*] – However, effective 15 December 2022: [*] – 然而，即将在2022年12月15日生效:- ISQM 1 取代了 ISQC 1; ISA 220 财务报表审计的质量管理取代财务报表审计的质量控制 *Quick note to Audit Firms: Firms are recommended to research the requirements of the three new quality management […]
Final Pronouncement: Objectivity of Engagement Quality Reviewer and Other Appropriate Reviewers
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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 […]
IAASB / IFAC Quality Management Webinar Series
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IAASB raises the Bar for Quality Management – All You Need to Know About the Firm’s Risk Assessment
1) This is a critical time for professional accountants in public practice. Many standards are evolving, with none perhaps more important than the suite of new and revised quality management standards approved by the IAASB. 2) Three (3) new quality management standards, namely: will be effective from 15 December 2022. 3) The standards, aim to […]
