Quality Management

The IAASB has raised the bar for quality management.

Three new and revised standards strengthen and modernize the audit firm’s approach to quality management. Through the standards, the IAASB is addressing an evolving and increasingly complex audit ecosystem, including growing stakeholder expectations and a need for quality management systems that are proactive and adaptable.

The standards direct audit firms to improve the robustness of their monitoring and remediation, embed quality into their corporate culture and the “tone at the top”, and improve the robustness of engagement quality reviews.

The standards are effective December 15, 2022. They replace the IAASB’s current standards, International Standard on Quality Control 1 and International Standard on Auditing 220.

 
 
 

Effective Date:

December 15, 2022

 

IAASB Quality Management Standards

ISQM 1

ISQM 2

ISA 220 (Revised)

Conforming Amendments

 

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Quality Management Videos

Watch our quality management videos - in English, French or Spanish - for detailed explanations on the new and revised standards.

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