With New Standards in Place, Proactive Quality Management Will Underpin the Next Era of Audit Transformation
New article from IAASB Chair Tom Seidenstein
Sep 23, 2020 | New York, New York | English
Following a vote by the IAASB during the last day of the September meeting, IAASB Chair Tom Seidenstein explains why the new quality management standards respond to:
- The changing environment;
- Challenge the effectiveness of the IAASB’s pre-existing quality control standards; and
- Growing market participant needs.
The resulting suite of standards are aimed at a more robust system of quality management for firms using the IAASB’s standards, and marks an evolution from a traditional, more linear approach to quality control.