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.

• Key Changes
  • Increases firm leadership responsibilities and accountability, and improves firm governance
  • A risk-based approach focused on achieving quality objectives
  • Modernizes standards to address technology, networks, and the use of external service providers
  • Increases focus on the continual flow of information and appropriate communication internally and externally
  • Proactive monitoring of quality management systems and timely and effective remediation of deficiencies
  • Enhances engagement partner’s responsibility for audit engagement leadership and audit quality
  • Clarifies and strengthens requirements for a more robust engagement quality review
• The Quality Management Standards

  International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements International Standard on Quality Management 2, Engagement Quality Reviews

  International Standard on Auditing 220 (Revised), Quality Management for an Audit of Financial Statements Conforming Amendments to ISAs and Related Materials Arising from the Quality Management Projects

• Available Resources
  • ISQM 1
  • Basis for Conclusion & Factsheet
  • ISQM 2
  • Basis for Conclusion & Factsheet
  • ISA 220
  • Basis for Conclusion & Factsheet
  • Introductory videos with overviews of each standard: available in English, French and Spanish

  Additional resources will be published in 2021 and added to this web page—see our implementation plans for additional details, including timing information. 

Learn More about the Quality Management Standards

An Overview of the IAASB’s Quality Management Standards

Perspectiva general de las normas de gestión de calidad del IAASB

Vue d’ensemble des normes de gestion de la qualité de l’IAASB

国际审计与鉴证准则理事会质量管理准则概览

IFAC, IAASB, and ICAC Discussion Forum on Quality Management Standards

IAASB Quality Management Standards

Quality Management Standards: Perspectives on Initial Implementation Efforts