Available Course

ISQM implementation

>> Click here to book this training as an In-House course <<

Duration: 1/2 Day
CPD Hours: Attendance at this seminar will secure 4.5 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
Course Facilitator: Yvonne Rossouw
T:  011-886-1395
E:  nerissa@probetatraining.co.za

Implementing the new suite of quality management standards before the due date of December 2022? The revised quality management standards apply to all firms that perform audits or reviews of financial statements, or other assurance or related services engagements, and will become mandatory from December 15, 2022. In a tie of increased public scrutiny and more robust regulation, the standards aim to put a commitment to audit quality at the heart of a firm’s culture and operations. Join ProBeta training as we discuss the practical implementation of ISQM1, ISQM2 and ISA 220, and introduce our brand new quality manual for firms to assist with implementation.

• What is a quality management system • How does this differ from the previous ISQC • The risk-based approach o Identifying quality objectives for your firm o Identifying and assessing the risk to these quality objectives based on the nature and circumstances of the firm o Implementing responses over these risks • Performing the risk-based approach for each component of quality management • Resources required to document and implement the responses • Documentation of the quality management system • Monitoring and evaluation of the quality management system o Root cause analyses o Responding to deficiencies identified

All professional accountants who perform engagements under the international standards, including audits, independent reviews, compilations and agreed-upon procedures