The new IAASA quality management standards are effective for audit firms from the 15th
of December 2022.
To assess the compliance of CPA firms, a thematic review will be undertaken in Quarter 1 of 2023 by the Quality Assurance (QA) team.
This review will require a sampling of firms to provide the QA team with their newly implemented Quality Management policies and procedures.
This review will be undertaken separately to the standard QA process.
Firms in scope for this review, will be notified in January 2023.
Please refer to the CPA Quality Management Resource
for assistance with the implementation of same.