Overview

One of the most common areas of confusion in the new quality management standards is understanding the distinct — and critical — roles of ISQM 1 file monitoring and the Engagement Quality Review (EQR) required by ISQM 2.

At first glance, they can seem very similar. In both cases, a qualified professional reviews an audit file and documents conclusions. Because of that, it’s easy to assume they serve the same purpose — or worse, that one can replace the other.

They cannot.

If you think of your System of Quality Management as the engine of a car, file monitoring and EQR are two completely different gauges on the dashboard. Each tells you something different. Each serves a separate purpose. And both must function effectively to reduce quality risk.

If your firm relies solely on EQRs to catch everything, you risk remaining blind to systemic failures.

If you treat file monitoring as a backward-looking inspection without performing Root Cause Analysis and implementing remedial action, you miss the opportunity for meaningful improvement.

This training will give you a practical, clear understanding of how these two processes differ, how they complement each other, and how to implement them properly within your firm.

What You Will Learn

• The critical differences between ISQM 1 Monitoring Reviews and ISQM 2 Engagement Quality Reviews
• Why EQR cannot replace effective file monitoring
• The distinct objectives, timing, and scope of each process
• How monitoring reviews identify systemic quality risks — not just file-level deficiencies
• How to perform and document EQRs effectively
• How to use Root Cause Analysis to turn findings into improvement
• Common findings — and what they reveal about your firm’s quality management system
• Practical steps to strengthen both processes within your System of Quality Management

Who Should Attend?

This webinar is designed for:

• Engagement Partners
• Quality Management Leaders
• EQR Reviewers
• Monitoring and Inspection Team Members
• Technical and Risk Leaders
• Firm Leadership responsible for ISQM implementation
• Audit Managers preparing for expanded quality responsibilities

If you are involved in performing, reviewing, monitoring, or overseeing audit engagements under the new quality management standards, this session is for you.

Registration and Certification

Participants will receive a verifiable LEAF Bronze Certificate of attendance upon completion of the webinar.
Where applicable, this session may qualify for Continuing Professional Development (CPD/CPE) credits (subject to your local professional body requirements).

Registration:

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