Prepare for new quality management standards


A new suite of three new quality management standards will become effective for audit firms later this year. These new standards will replace the current quality standard upon which the processes and procedures of Irish audit firms are based – ISQC1. The standards were issued by the Irish Auditing and Accounting Standards Authority (IAASA) and are based on the global standards issued by the International Auditing and Assurance Standards Board (IAASB).
An article in June’s Accountancy Plus explores the changes. For details please click here.