Proposed Quality Management Standards – what are they and how will they impact your Practice? - a podcast by CPA Australia

The International Auditing and Assurance Standards Board (IAASB) has proposed revised standards on quality management for firms (ISQM 1) and audit engagements (ISA 220), and a new standard for engagement quality reviews (ISQM 2). These standards reflect a shift from prescribed policies and procedures to a risk-based approach to achieving quality objectives. Hear from Len Jui, IAASB member, about the proposals and Jessie Wong, KPMG partner, about the implementation challenges.

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