This webcast series on the IAASB’s proposed quality management standards provide a detailed overview of the proposals. The webcasts also include questions and answers sessions on the proposals.
How the IAASB's Proposed Quality Management Standards Are Scalable for SMPs
The IAASB recently released a suite of proposed international standards on quality management. The proposals change the way professional accountancy firms are expected to manage quality—for audits, reviews, and other assurance and related services engagements.
This video explains how the IAASB’s proposed quality management standards are scalable for small- and medium-sized practices.
Changes in key terminology, including a revised definition of the term “assurance client”;
Enhanced and clarified independence requirements for attestation engagements;
Clarification of the types of assurance engagement addressed in Part 4B; and
Simplified guidance on assurance engagements that refer to the definitive source of explanatory material on such engagements in IAASB literature.
The proposals were developed in close cooperation with representatives of the IAASB, as part of the coordination program of the two standard-setting boards.
Comments on the Exposure Draft are requested by June 26, 2019 from all stakeholders.
The IESBA believes a single set of high-quality ethics standards enhances the quality and consistency of services provided by professional accountants, thus contributing to public trust and confidence in the accountancy profession. The IESBA sets its standards in the public interest with advice from the IESBA Consultative Advisory Group (CAG) and under the oversight of the Public Interest Oversight Board (PIOB).
About IFAC IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of more than 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.
To Reflect Terms and Concepts Used in ISAE 3000 (Revised)
This exposure draft seeks views from practitioners and other stakeholders in relation to proposed revisions to Part 4B of the revised and restructured International Code of Ethics for Professional Accountants (including International Independence Standards) to reflect terms and concepts used in International Standard on Assurance Engagements 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information.
