To reduce the environmental impact and contribute to sustainability efforts, ISCA will contribute our part by eliminating the printing of course materials for selected courses with effect from 2023.
Tips: To make your paperless learning experience more enjoyable, you may bring along a digital device such as a Windows based laptops or tablets to read your online materials during the class. QR code will be provided in the class for you to download the materials in PDF.
Join us and be a Difference Maker! | | 
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Programme Objective
The three new and revised Quality Management standards aim to strengthen the audit profession in compliance with professional and legal requirements, and help to deliver trusted services with a consistently high standard of quality to their clients. Through these standards, the International Auditing and Assurance Standards Board (IAASB) requires audit firms to adopt a robust, proactive risk-based approach to a system of quality management that is responsive to changes in the nature and circumstances of the firms and their engagements.
An effective system of quality management is a critical milestone of the professional standards and related legislation. These quality management standards would reduce the serious risk of non-compliance faced by the auditors, the audit firms and their clients in the evolving and increasingly complex audit ecosystem.
The new risk-based approach to quality management requires that all professional accountants who perform services under the International Standards implement a quality management system responsive to their specific risks.
Preparing for their implementation is now a priority for the practitioners of small-and-medium-sized practices (SMPs), as systems of quality management in compliance with these SSQM are required to be designed and implemented by 15 December 2022, and the evaluation of the system of quality management is required to be performed within one year following 15 December 2022.
This programme will look at:
- how firms can prepare a new system of quality management in response to the requirements of the SSQM 1 with the SSQM 2, and SSA 220 (Revised)
- provides guidance on the risk-based approach to the risk assessment process
- provides illustrative responses, policies and procedures to tailor and form the basis of the firm’s system of quality management, at engagement and firm levels.
- provides some additional policies and procedures for consideration where necessary.
Programme Outline
The training will provide an overview of SSQM requirements, practical factors for consideration, some implementation challenges and recommendations/ tips for a successful implementation, and suggest resources available. It covers the following elements/ parts:
Day 1:
(1) Elements of a system of quality management
(2) Scope of the SSQM
(3) Implementing a SOQM
(4) Development, Documentation and Implementation
(5) Communication of the system of quality management
(6) Risk Assessment Process
(7) Tone at the Top
(8) Applicability to network firm
(9) Scalability for a Smaller or Less Complex firm
Day 2:
Establishing the 8 components of the firm’s system of quality management
(1) The firm’s risk assessment process
(2) Governance and leadership
(3) Relevant ethical requirements
(4) Acceptance and continuance of client relationships and specific engagements
(5) Engagement performance
(6) Resources
(7) Information and communication
Day 3:
(1) Monitoring and remediation process
(2) Engagement Quality Reviews
(3) SSA 220 (Revised)
Learning Outcomes
At the end of this programme, the participants will be able to prepare a system of quality management manual that consists of common requirements, illustrative policies and procedures, actions to take, and examples of risk assessment and responses that tailor and customise to fit the firm’s needs.
Training Methodology
Lecture style (including risk assessment and responses toolkit and illustrative SoQM manual)
Closing Date for Registration
1 week before programme or until full enrolment.
Intended For
Auditors, audit firms and All Professional Accountants.
Schedule & Fees
Testimonial
Funding
No funding Available!
Programme Facilitator(s)
To reduce the environmental impact and contribute to sustainability efforts, ISCA will contribute our part by eliminating the printing of course materials for selected courses with effect from 2023.
Tips: To make your paperless learning experience more enjoyable, you may bring along a digital device such as a Windows based laptops or tablets to read your online materials during the class. QR code will be provided in the class for you to download the materials in PDF.
Join us and be a Difference Maker! | |
|
|
Programme Objective
The three new and revised Quality Management standards aim to strengthen the audit profession in compliance with professional and legal requirements, and help to deliver trusted services with a consistently high standard of quality to their clients. Through these standards, the International Auditing and Assurance Standards Board (IAASB) requires audit firms to adopt a robust, proactive risk-based approach to a system of quality management that is responsive to changes in the nature and circumstances of the firms and their engagements.
An effective system of quality management is a critical milestone of the professional standards and related legislation. These quality management standards would reduce the serious risk of non-compliance faced by the auditors, the audit firms and their clients in the evolving and increasingly complex audit ecosystem.
The new risk-based approach to quality management requires that all professional accountants who perform services under the International Standards implement a quality management system responsive to their specific risks.
Preparing for their implementation is now a priority for the practitioners of small-and-medium-sized practices (SMPs), as systems of quality management in compliance with these SSQM are required to be designed and implemented by 15 December 2022, and the evaluation of the system of quality management is required to be performed within one year following 15 December 2022.
This programme will look at:
- how firms can prepare a new system of quality management in response to the requirements of the SSQM 1 with the SSQM 2, and SSA 220 (Revised)
- provides guidance on the risk-based approach to the risk assessment process
- provides illustrative responses, policies and procedures to tailor and form the basis of the firm’s system of quality management, at engagement and firm levels.
- provides some additional policies and procedures for consideration where necessary.
Programme Outline
The training will provide an overview of SSQM requirements, practical factors for consideration, some implementation challenges and recommendations/ tips for a successful implementation, and suggest resources available. It covers the following elements/ parts:
Day 1:
(1) Elements of a system of quality management
(2) Scope of the SSQM
(3) Implementing a SOQM
(4) Development, Documentation and Implementation
(5) Communication of the system of quality management
(6) Risk Assessment Process
(7) Tone at the Top
(8) Applicability to network firm
(9) Scalability for a Smaller or Less Complex firm
Day 2:
Establishing the 8 components of the firm’s system of quality management
(1) The firm’s risk assessment process
(2) Governance and leadership
(3) Relevant ethical requirements
(4) Acceptance and continuance of client relationships and specific engagements
(5) Engagement performance
(6) Resources
(7) Information and communication
Day 3:
(1) Monitoring and remediation process
(2) Engagement Quality Reviews
(3) SSA 220 (Revised)
Learning Outcomes
At the end of this programme, the participants will be able to prepare a system of quality management manual that consists of common requirements, illustrative policies and procedures, actions to take, and examples of risk assessment and responses that tailor and customise to fit the firm’s needs.
Training Methodology
Lecture style (including risk assessment and responses toolkit and illustrative SoQM manual)
Closing Date for Registration
1 week before programme or until full enrolment.
Intended For
Auditors, audit firms and All Professional Accountants.
Programme Facilitator(s)
