ISQM
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
WHAT IS ISQM?
ISQM 1 strengthens firms’ systems of quality management through a robust, proactive and effective approach to quality management. The standard encourages firms to design a system of quality management that is tailored to the nature and circumstances of the firm and engagements it performs. ISQM 1 applies to all firms that perform engagements under the IAASB’s international standards. ISQM 1 replaces ISQC 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements and Other Assurance and Related Services Engagements.
Firms are required to have systems of quality management designed and implemented in accordance with ISQM 1 by December 15, 2022.
HOW CAN WE HELP WITH ISQM?
First and foremost, don't panic. There is a huge amount of work involved in ISQM but that's what we are here to do for you! At all times, you'll deal with a human that understands how daunting and time-consuming this process can be, even to the most seasoned professional.
With as little disruption as possible, we will create the documentation to present to your governing / certification body. This will be tailored to your company's style & needs, and meet all requirements of the standards.
All files become your property and will be submitted to you in both Word and PDF formats, to allow future edit as you see fit. Or we can continue to support you into the future, as you see fit, without obligation.
References can be provided from established firms who have given written testimonials.
Let us to the heavy lifting for you!
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