quality management Archives - Leaf Quality Systems (Pty) Ltd

Ethics, acceptance and continuance
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General LEAF, LEAF Audit Quality, LEAF Financial Reporting, LEAF Global, LEAF IFRS, LEAF Methodology, LEAF Quality, LEAF Technical, LEAF Training, Training Office Compliance

Ethics, acceptance and continuance

LEAF Quality Systems (Pty) Ltd2023-01-31T22:11:43+02:00

Ethics, acceptance and continuance 30 September 2022 Ethics is a fundamental concept that needs to be established in an auditing and accounting practice. It cannot merely be given lip service, and should lead to proactively managing the risk of ethical threats and breaches that could inappropriately influence the firm’s compliance with relevant ethical requirements. One of the occasions when ethics may be involved in audit considerations is when deciding whether to accept, or continue with client relationships and engagements. Quality, integrity and independence should be the overriding factors. Firm-level considerations ISQM 1 para 29 [...]

Ethics, acceptance and continuanceLEAF Quality Systems (Pty) Ltd2023-01-31T22:11:43+02:00

Governance and leadership
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LEAF Audit Quality, LEAF Financial Reporting, LEAF Global, LEAF Training

Governance and leadership

LEAF Quality Systems (Pty) Ltd2022-09-13T14:29:51+02:00

Governance and leadership Governance and leadership set the tone at a firm, and create the environment in which all the other components of the firm’s system of quality management operate. For a system of quality management to achieve the intended outcomes, firm leadership needs to ensure that quality management requirements and principles are incorporated into all aspects of practice management, including a culture that facilitates proactive and regular self-scrutiny. Firm level considerations ISQM 1 para 28 requires firms to establish the following quality objectives that address the firm’s governance and leadership, and establish the environment [...]

Governance and leadershipLEAF Quality Systems (Pty) Ltd2022-09-13T14:29:51+02:00

References to quality control
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References to quality control

LEAF Quality Systems (Pty) Ltd2022-06-30T16:02:44+02:00

References to quality control With the issuing of the ISQM standard, the regulatory world is abuzz with changing all references to quality control, to quality management, due to the fact that the new standard is named, ‘International Standard of Quality Management’, whereas the old standard was called, ‘International Standard of Quality Control’. I find it a bit absurd, as the concept of quality control has not vanished; the standard was expanded to ensure that the management aspect of quality control was also addressed. At LEAF, we have always applied the management aspects of quality control, and do not [...]

References to quality controlLEAF Quality Systems (Pty) Ltd2022-06-30T16:02:44+02:00

The new face of quality management
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LEAF Audit Quality, LEAF Financial Reporting, LEAF Technical, LEAF Training

The new face of quality management

LEAF Quality Systems (Pty) Ltd2022-09-12T14:33:25+02:00

The new face of quality management There has been significant activity in the quality management arena over the past few years, culminating in the approval of the set of new quality management standards at the September 2020 IAASB meeting. Subject to final approval by the Public Interest Oversight Board later this year, it is anticipated that the standards will be issued by the end of the year and that the profession will have 24 months to implement the changes introduced with these new standards. Key changes The set of [...]

The new face of quality managementLEAF Quality Systems (Pty) Ltd2022-09-12T14:33:25+02:00