Quality Management: Implementing ISQM (UK) 1

Training - CPD Courses

Course Summary

Item
Detail
Date
TBC
Location
Online
Duration
2-4pm
Participants
Audit Compliance Principals and others involved in the firm's audit quality management system
Speaker
Andrew Jarvis
Member Price
£135 + VAT
Non-Member Price
£170 + VAT
Forthcoming Dates
TBC
Upcoming dates

Available now OnDemand

Content of Course

ISQM (UK) 1 requires all audit firms by 15 December this year to:

  • Establish the firm’s quality objectives;
  • Identify and assess their quality risks;
  • Design and implement appropriate responses;
  • Design and implement monitoring activities.

Firms will no longer be able to simply adopt an ‘off the shelf’ audit procedures manual, which is possible with the existing standard: ISQC (UK) 1. Instead, a much more proactive and iterative appraoch is required, with the new requirement to perform a risk assessment being central to the process.

The new requirements can be daunting for firms of all sizes. Over this two hour course we:

  • Clarify the requirements of the standard
  • Highlight the key areas to focus on
  • Explain how to practically comply wiht the standard
  • Provide example documentation

For a brief summary of the new standard click here.