ISQM2 - Engagement Quality Reviews
International Standard on Quality Management 2 (ISQM 2) Engagement Quality Reviews is a completely new standard, though it does build on some of the content in International Standard on Quality Control 1 (ISQC 1) Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and other Assurance and Related Services Engagements. ISQM 2 will apply to audits and other assurance engagements for periods beginning on or after 15 December 2022.
In this hour-long session we will cover:
- The scope of engagements covered by ISQM 2;
- Eligibility of engagement quality reviewers (including independence);
- How to perform an engagement quality review;
- Documentation of the review.
We will also pick up how ISQM 2 links in with the requirements of ISQM 1.
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