By the end of this session, participants will be able to:

• Recognize the importance of ISQM in enhancing audit quality, consistency, and public confidence in the profession
• Understand their role in achieving quality objectives and maintaining compliance with professional standards.
• Assist partners and senior staff in implementing and sustaining quality management practices within the firm
• Familiarize themselves with firm-specific policies and procedures related to ethics, independence, communication, documentation, and engagement performance.

This course will empower employees with the knowledge and tools needed to contribute effectively to their firm’s quality management system, ensuring compliance with regulatory requirements and industry best practices.

Ethics and Independence

• Understanding ethical requirements in the profession
• Importance of independence and objectivity
• Identifying and addressing threats to independence
• Consequences of improper conduct

Use of Technology in Audit & Accounting Practices

• How technology supports quality management
• Proper use of firm-approved software and tools
• Risks associated with technology misuse
• Data security and cyber threats

Communication Protocols in the Firm

• Importance of clear and effective communication
• Channels of communication within the firm
• How to escalate quality-related issues
• Handling client queries professionally

Professional Responsibilities of Trainees & Employees

• Expected conduct and professional skepticism
• Dealing with differences in opinion
• Handling client confidentiality and ethical dilemmas
• The risk of undue influence from clients and how to mitigate it

Documentation and File Assembly

• The importance of timely file assembly
• Common errors in documentation and how to avoid them
• Best practices for maintaining audit evidence and workpapers
• ISQM requirements for proper record-keeping

Practical Case Studies & Discussion

• Real-life scenarios of ethical dilemmas and quality risks
• Interactive discussion on challenges employees face in their roles
• Strategies for maintaining compliance and professional integrity
  

Conclusion and Q&A

• Key takeaways for employees
• Open floor for questions and clarifications