New quality management standards, both at the firm and engagement levels, could impact all practitioners. Our guidance materials will help you implement these changes and advise your teams on the desired outcomes.
Amid growing stakeholder expectations and a need for quality management systems that are proactive and adaptable, three interrelated standards have been introduced. These standards will strengthen and modernize how firms approach quality management, presenting a substantial development and change for Canadian practitioners and stakeholders since they include significant shifts. The new suite of standards centres on quality management to enable a proactive, risk-based approach and higher quality engagements.
Is your firm a first-time adopter of CSQM 1? If yes, access this tool to understand the scope and objective of CSQM 1 including the components of a system of quality management.
The quality management standards are applicable to all firms that perform audits or reviews of financial statements, or other assurance or related services engagements. The following resources may be relevant to your firm, whether you are adapting your current system of quality management or designing and implementing a new system.
The three new Canadian standards on quality management at the firm and engagement level are:
Learn about changes to your responsibilities for quality management related to this new suite of Canadian standards comprising CSQC 1, CSQC 2, and CAS 220.
Applicable to firms transitioning from CSQC1 to CSQM1.
This Audit and Assurance Alert is being issued to raise awareness about the unanimously approved suite of quality management standards including CSQM 1 replacing CSQC 1.
Applicable to firms transitioning from CSQC1 to CSQM1.
New and revised quality management standards are coming into effect soon. Are you ready?
Applicable to firms that are first time adopters of CSQM 1 and those transitioning from CSQC1.
In this webinar, practitioners share their experiences to date in developing a system of quality management and applying the requirements of the new quality management standards.
Applicable to firms that are first time adopters of CSQM 1 and those transitioning from CSQC1
Learn about the new suite of quality management standards and listen as the Auditing and Assurance Standards Board (AASB) shares highlights of the new standards as well as considerations for small firms as you prepare for implementation.
Applicable to firms that are first time adopters of CSQM 1 and those transitioning from CSQC1
New quality management standards prioritize proactive management or mitigation of risks at the firm and engagement levels. Learn how these new standards promote a consistent, high-quality performance by practitioners.
Applicable to firms that are first time adopters of CSQM 1 and those transitioning from CSQC1
This standard represents a major transformational move that affects all types of audits, reviews or assurance engagements. Learn more about the standard and the effective date.
Applicable to firms transitioning from CSQC1 to CSQM1.