Engagement Quality Reviews - ISQM 2
Objective
The objective of this project were to enhance the requirements and application material in relation to the firm’s engagement quality reviews (EQRs), including:
- setting more robust criteria for firms to apply when determining which engagements should be subject to an EQR;
- establishing the objective of an EQR;
- clarifying the nature, timing and extent of the EQR; and
- enhancing the requirements for the eligibility of the individuals who perform the review.
In doing so, consideration was also given to maintaining the appropriate balance between the respective roles and responsibilities of the engagement quality reviewer and the engagement partner who retains overall responsibility for the engagement.
Project Stages
Board Papers
September 2019 December 2019 March 2020 April 2020 June 2020 September 2020
Board Minutes
September 2019 December 2019 March and April 2020 June 2020
CAG Papers
September 2019 March 2020 September 2020
CAG Minutes
Issued Document
Final Pronouncement Basis for Conclusions Fact Sheet: Introduction to ISQM 2 Conforming Amendments to ISAs and Related Material Arising from the Quality Management Projects
