The focus on quality management for auditors, audit engagements and audit firms has been ramped up in recent years. ISQM 1 was published in order to steer the professional services firm in setting up a culture of quality and establishing various business processes to address and maintain quality, regardless of the type of engagement undertaken. ISA 220 on the other hand, was revised to hone in on raising and maintaining quality on audit engagements of a set of annual financial statements specifically. ISA 220 (revised) was published in December 2020 and becomes effective for audit clients with financial year ends of 14 December 2023 or later. ISA 220 is relevant to the pre-engagement phase of the audit process and its requirements apply to every audit engagement. Understanding the implications of the revised standard will be imperative when faced with the possibility of an internal or external audit file quality review / inspection.