Overview        

The IAASB's “Suite of Quality Management (QM) Standards” effective from 15 December 2022 are everyone's point of discussion.  

The Staff of the IAASB have released two first-time implementation guides to help stakeholders understand and apply, namely ISQM 1 - Quality Control for Firms that Perform Audits and Reviews of Financial Statements and Other Assurance and Related Services Engagements, and ISQM 2 - Engagement Quality Reviews. 

Many might think they still have a lot of time before then but firms are required to have their system of quality management designed and implemented by the effective date! Also, practitioners are strongly encouraged to plan early for appropriate implementation, given the potential impact of the changes to systems of quality management. 

This webinar will also cover the Fact Sheet issued by the International Auditing and Assurance Standards Board (IAASB) to recap the most important aspects of ISQM 1. Our technical executive Lettie Janse van Vuuren CA(SA) will on 25 October from 10:00 a.m. to 12:00 p.m. unpack these two publications to help practitioners and firms successfully plan and implement the standards by the effective date.

Learning objectives    

   By the end of this webinar you will understand:   

• ISQM 1 through a comprehensive recap including its 8 components and other requirements; 

• The need for more robust governance and leadership; 

• The risk-based approach focused on achieving the quality objectives;  

• The need to be proactive in monitoring of the whole system as well as timely and effective remediation; and 

• Available resources and also how to fully apply aspects of the new standards.  

Content    

The webinar will cover the following topics:   

• Quick recap of ISQM 1: 

  • The 8 components discussed. 

  • Other important requirements. 

• The need for more robust governance and leadership. 

• Achieving quality objectives through a risk-based approach. 

• Proactive monitoring of the system. 

• Timely and effective remediation. 

• Practical application of ISQM 1 based on firm complexity. 

Obtaining your CPD certificate     

This training is compliant with the International Education Standard (IES7) issued by the International Federation of Accountants and recognised for CPD by relevant professional bodies including ACCA, CIMA, IAC, IIA, SAIBA, SAICA and SAIPA. 

All attendees are issued with a CPD certificate available in an online profile.    

About the presenter  

Lettie Janse van Vuuren CA(SA), RA  

Lettie is a Chartered Accountant, Registered Auditor, as well as an Assessor and Moderator. She joined SA Accounting Academy in November 2017 as Head of Technical. As a professional trainer and webinar host, she is able to hold the attention of an audience with her relaxed and humorous presentation style.  She has a unique ability to communicate with delegates at their respective levels of knowledge and experience.  Over the last 20 years, she has trained thousands of partners, managers, trainee accountants and other professionals.   

She is responsible for researching, compiling and presenting our MCLU (Monthly Compliance and Legislation Updates). She was the Professional Development Manager at SAICA for 4 years and in charge of accrediting new training offices and monitoring existing ones (including the moderation of training offices and trainee assessments).  

Who should attend?      

The following persons will benefit from attending this webinar:   

• Professional Accountants including: CA(SA), BAP(SA), AGA(SA) and Professional Accountant (SA). 

• Registered auditors.  

• Independent Reviewers. 

Price    

• R 475.00 - Online admission - Individual.  

• R 950.00 - Online admission - Company.   

Steps to register for the event:   

If you already have a profile, login and register for the webinar.  

If you don’t have a profile, create a free profile then login and register for the webinar.  

Click here  to create a free profile (There is no charge to create a profile and gain access to our free Monthly Practice Management Series).  

Click here  to find out about the Technical Resource Centre & CPD Subscription options.  

 Additional material  

  By attending this webinar you will be provided with:  

• Summarised slide presentation;  

• Detailed course material; 

• Source documents for reference/resource library; and   

• You can ask questions during the webinar and you will also have access to the presenter after the webinar.