The IRBA Board adopted the IAASB’s suite of quality management standards in March 2021, comprising the following:
- ISQM 1 – Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements
- ISQM 2 – Engagement Quality Reviews
- ISA 220 (Revised) – Quality Management for an Audit of Financial Statements.
Consequently, the IESBA made Quality Management-related Conforming Amendments to the IESBA Code.
The IRBA has subsequently adopted these amendments. The Government Gazette will advise on the publication of the amendments to the IRBA Code.
The quality management-related conforming amendments to the IRBA Code of Professional Conduct for Registered Auditors (revised November 2018) will be effective as of 15 December 2022.
For more information, visit https://www.irba.co.za/upload/Final-Pronouncement-QM-related-Conforming-Amendments.pdf, or email email@example.com.