Tech Talk: Quality Management in Audit and Reviews
June2020 Part 1: What every firm should know about the new quality management standard
What you will learn
By the end of this event the participant should:
- be able to develop a new quality management system for the firm;
- be able to bring the firm directors and staff up to date to the new changes;
- be aware of the resources available to the firm for further reference.
Overview of quality and risk management,
Introduction to ISQM1
- Scope of this ISQM
- The Firm’s System of Quality Management
- Effective Date
Objective and relevant concepts
Overview of the new requirements
- System of Quality Management
- Governance and Leadership
- The Firm’s Risk Assessment Process
- Relevant Ethical Requirements
- Acceptance and Continuance of Client Relationships and Specific Engagements
- Engagement Performance
- Information and Communication
- Monitoring and Remediation Process
- Network Requirements or Network Services
- Service Providers
- There are no preconditions for this course.
- Moderate level.
- Recorded webinar made available on a specified date
In response to recent scandals and audit failures SAIBA has adopted a new standard that require accounting firms to implement quality management systems when the perform independent review engagements, or assist with preparing an audit file.
In aim is to assist firms with creating an environment that enables the performance of quality engagements, by focusing on the risk faced by the firm when performing work for clients.
The new standard, ISQM1 (International Standard on Quality Management 1) replaces ISQC 1 by moving away from just having policies and procedures in place to developing an integrated system.
Following the standard will allow firms to:
- tailor the quality control to the needs of the firm,
- facilitate a proactive approach to risk mitigation,
- improve monitoring and implementation,
- integrate the components of a quality control system.
Join SAIBA for a 2 part series on the new ISQM1. Part 1 provides an overview and introduction to quality, risk management and the new standard. Part 2 will provide in-depth knowledge to ISQC1.
The following pricing apply:
- Ad hoc: R475.00
- Subscription: Accountant in Practice, Accountant in Practice plus Tax, Bookkeeper, QuickUpdate
This webinar will be available from 25 June 2020.
WHO SHOULD ATTEND?
The following members will benefit from attending this webinar:
- Business Accountant (SA).
- Business Accountants in Practice (SA).
- Accounting department staff; and
- Trainee accountants.
Caryn Maitland CA(SA)
Caryn Maitland is a Chartered Accountant (SA). She has been a member of IRBA as a registered auditor and accountant since 2002.
Caryn has lectured Auditing and Accounting at various institutions and has conducted independent workshops and seminars for professional accountants since 2006 on various topics.
Caryn has presented on the national tour for the annual Legislation Update with ProBeta Training (Pty) Ltd in 2014 and 2015, as well as on the FASSET national tour for the Tax Administration Act in 2014.
By attending this webinar, you will be provided with:
- Summarised slide presentation
- Reference documents and / or course material where available
- Access to a technical knowledge base
- Recorded webinar that includes an expert presenter and participant interaction.
This event is included in the following subscription packages. If you are not a subscriber, you need to purchase as a stand-alone event.
- Accountant in Practice:Yes
- Accountant in Practice plus tax:Yes
- Bookkeeper: Yes
- Quickupdate: Yes
- IFRS for SME's: No
HOW TO SUBSCRIBE?
Subscribers pay less for their CPD points. SAIBA offers 4 subscription packages that provides access to everything to run a successful accounting and tax practice. Pay a small monthly amount and gain access to monthly webinars covering ethics, financials, reporting, audit and assurance, working papers, law, technology, management topics, and tax.