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Two new international quality management standards, ISQM 1 and ISQM 2, as well as major changes to the related standard ISA 220 will come into effect in December 2022. These far-reaching new requirements impact all audit firms as well as individual audit engagements.
This three-part online series is designed to help small and medium-sized practitioners implement these changes. Join John Selwood and Peter Herbert, as they take a deep-dive into the standards and provide practical examples to support implementation. Each session will focus on a specific area of quality management and include a Q&A session, so you can clarify your understanding with John and Peter. Wherever your firm is on its QM implementation journey, there will be practical insights to share and learn from.
Session 2: Developing a quality management strategy• Responding to quality risks – what is required in ISQM 1?• Mapping and documenting responses• The role of the RI in embedding audit quality• Practical considerations for less complex firms• Illustrative examples, focusing on the nature and circumstances of firms and their engagements
This is session two of a three part series. Those booking all three sessions at the same time will qualify for a 10% discount on all three tickets. Each session is a standalone session and participants will not need to have attended a previous.
The opinions expressed by external guest speakers in interviews or other publications included on this website are, by their nature, those of the speaker. They are not necessarily fully endorsed by the ICAEW or purport to reflect the official policies and views of the ICAEW or its members.
John Selwood ACAJohn is a chartered accountant and independent training consultant, who lectures for major accountancy practices, professional bodies, training companies and publishers. He speaks on financial reporting, auditing, money laundering and company law. John is a member of ICAEW’s Audit and Assurance Faculty’s Practitioner Services Panel Committee and the Technical and Practical Auditing Committee. He has been involved with presenting and writing the material for the Audit and Assurance and Financial Reporting Faculties Roadshows for a number of years. He also regularly writes for Audit & Beyond and is the author of Core Auditing Standards for Practitioners.
Peter Herbert FCAPeter is a chartered accountant. He has a professional practice background and has 20 years’ training experience, specialising in financial reporting, auditing and company law, as well as commercial awareness and business skills. Peter is a founding director of Insight Training. He has a small practice, providing advice to mid-tier and small accountancy practices on aspects of accounting, auditing and practice regulation.
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