The IAASB in collaboration with IFAC held the first webinar in our quality management webinar series on June 24 from 11 am–12 pm GMT on Zoom with livestreaming on YouTube. The webinar addressed your firm’s risk assessment process and how to align with the requirements in the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
The IAASB in collaboration with IFAC invite you to join our quality management webinar series on June 24, July 29, and August 5 and 18 on Zoom with livestreaming on the IAASB’s YouTube channel. The webinars will take a deep dive into aspects of the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
ISQM 1 is part of the IAASB’s suite of quality management standards, issued in late 2020. The standards strengthen and modernize how firms approach quality management. They also mark an evolution from a traditional, more linear approach for quality controlto an integrated quality managementapproach.
The webinars will be held in English and will be available on the IAASB’s YouTube Channel following the session. Participants joining live via Zoom will be able to submit questions.
Webinar One: All You Need to Know about the Firm’s Risk Assessment Process
Discussion will include the linkage between ISQM 1 and International Standard on Auditing 220 (Revised), Quality Management for an Audit of Financial Statements
Register Now
Webinar Three: What’s New for Firms’ Monitoring and Remediation Processes
August 5, 11 am–12 pm GMT
Featuring IAASB member Chun Wee Chiew, IAASB technical advisor Denise Weber, and IAASB Deputy Director Natalie Klonaridis
Register Now
Webinar Four: Bringing it All Together: Exploring all the Components of a Quality Management System
August 18, 11 am–12 pm GMT
Featuring IAASB members Julie Corden and Sachiko Kai and IAASB Deputy Director Natalie Klonaridis
Register Now
This webinar series is part of the IAASB’s implementation support efforts. Looking for additional resources on the suite of quality management standards? Check out the IAASB’s dedicated web page: iaasb.org/quality-management
IFAC is committed to supporting our member organizations and the development, adoption, and implementation of high-quality international standards.
A Deep Dive into International Standard on Quality Management 1
The IAASB in collaboration with IFAC invite you to join our quality management webinar series on June 24, July 29, and August 5 and 18 on Zoom with livestreaming on the IAASB’s YouTube channel. The webinars will take a deep dive into aspects of the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
ISQM 1 is part of the IAASB’s suite of quality management standards, issued in late 2020. The standards strengthen and modernize how firms approach quality management. They also mark an evolution from a traditional, more linear approach for quality controlto an integrated quality managementapproach.
The webinars will be held in English and will be available on the IAASB’s YouTube Channel following the session. Participants joining live via Zoom will be able to submit questions.
Webinar One: All You Need to Know about the Firm’s Risk Assessment Process
Discussion will include the linkage between ISQM 1 and International Standard on Auditing 220 (Revised), Quality Management for an Audit of Financial Statements
This webinar series is part of the IAASB’s implementation support efforts. Looking for additional resources on the suite of quality management standards? Check out the IAASB’s dedicated web page: iaasb.org/quality-management
A Deep Dive into International Standard on Quality Management 1
On Tuesday, June 1 at 9 AM EDT, as part of the United Nations Special Session of the General Assembly Against Corruption (#UNGASS), the International Federation of Accountants (IFAC) and the International Bar Association (IBA) will be co-hosting the event Independent Professions Fighting Corruption, a live virtual roundtable discussion about how the legal and accountancy professions fight corruption and promote the rule of law.
The global legal and accountancy professions are vital allies in the fight against corruption, in every country around the world. In this live event, distinguished leaders from both professions will discuss how their professions contribute to the fight, with a focus on ethics and independence. While the “professional enablers” narrative has attracted significant attention recently, this event looks to highlight the important role the professions play as allies, as well as to strengthen the dialogue with key stakeholders and enhancing the professions’ contributions as committed partners.
Panelists include:
Srinivas Gurazada, Head of Public Expenditure and Financial Accountability (PEFA) Initiative Secretariat
Leopoldo Pagotto, Co-Chair, IBA Anti-Corruption Committee
Stephen Revell, Freshfields Bruckhaus Derringer and co-vice chair of the IBA Law Firm Management Committee
Dr. Stavros Thomadakis, Chair, International Ethics Standards Board for Accountants (IESBA)
Co-Moderator, Sara Carnegie, Director of Legal Projects, IBA
Co-Moderator, Scott Hanson, Director of Public Policy & Regulation, IFAC
Join the webinar on Tuesday, June 1, at 9:00 AM EDThere.
June 1st event part of the UN General Assembly Special Session Against Corruption
Conforming and Consequential Amendments to the IAASB’s Other Standards as a Result of the New and Revised Quality Management Standards
The SMPAG supports the IAASB Exposure Draft to make necessary conforming and consequential amendments to address inconsistencies between the IAASB’s Other Standards and Framework with the new and revised QM standards.
Watch CPA Australia's May 18 webinar about IESBA's Technology Initiative, featuring Mr. Brian Friedrich (Chair of Technology Working Group) and Mr. Greg Driscoll (Member of IESBA’s Technology Task Force).
Proposed Revisions to the Definitions of Listed Entity and Public Interest Entity in the IESBA Code
The IFAC SMP Advisory Group believes that the approach for a global PIE definition should be narrow, rather than broad. Otherwise the situation arises where PIEs at an international level are not PIEs under local legislation in several parts of the world and it leads to inconsistent practices. Whilst going beyond this may be necessary in a few jurisdictions and for certain cases (i.e., this would be determined in legislation), exclusions of entities or additions by individual firms would be far less appropriate from a stakeholder’s and public interest perspective.
IFAC’s Professional Accountants in Business (PAIB) Advisory Group has compiled insights on key global trends impacting the future readiness of the accountancy profession in a new report Enabling Purpose Driven Organizations: PAIBs Leading Sustainability and Digital Transformation.
This report includes highlights from the PAIB March 2021 meeting, focusing on:
Enabling value creation and sustainability
Delivering on climate change
How procurement and supply chain operating models are changing the role of finance functions
The changing nature of work and remote finance Gen Z and the future of accountancy
Public sector priorities to support COVID-19 recovery
IFAC PAIB Advisory Group Chair Sanjay Rughani says: “It is important we continue to drive forward the key areas of the PAIB agenda and share our learnings across the global accountancy profession. Together, we can enable a PAIB-relevant profession that is attractive to the new generation entering the workforce.”