Quality Management at Firm Level - ISQM 1

Objective

The objectives of this project were:

  • Enhancing the robustness of firm’s systems of quality control through various means, including:
    • Introducing a more proactive and tailored approach to managing quality.
    • Increasing firm leadership responsibilities and accountability, and improving firm governance.
    • More rigorous monitoring of systems of quality control and more effective remediation of deficiencies.
  • Modernizing the standard for an evolving and increasingly complex environment, including addressing the impact of technology, networks, and use of external service providers.
  • Improving the scalability of the standard.

Project Stages

Information Gathering Project Proposal Exposure Draft Development Completed
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

September 2019 March 2020

Issued Document

Final Pronouncement Basis for Conclusions Fact Sheet: Introduction to ISQM 1 Conforming Amendments to ISAs and Related Material Arising from the Quality Management Projects

 

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