Salient features of the Quality Management Standards – Part 1

For the benefit of firms, especially Small and Medium Practices (SMPs), we have curated highlights of a previous ISQM webinar in which Johnny Yong, a former Head of Capital Market and Assurance Department of the Malaysian Institute of Accountants (MIA), presented an overview of the Quality Management standards before they were effective. The webinar covered the salient features of the International Standard on Quality Management (ISQM) 1 Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements, ISQM 2 Engagement Quality Reviews and International Standard on Auditing 220 (Revised) Quality Management for an Audit of Financial Statements.