Qlty. Mgt-Impacts of CSQM 1&2 for Providers of Assur. Srvcs.

Qlty. Mgt-Impacts of CSQM 1&2 for Providers of Assur. Srvcs.
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DL22230301

Recorded: September 2021 

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CSQM 1 provides a new approach to quality management at the firm level, including guidance on a risk assessment process.  The standard sets out what is needed in a firm's quality control systems to achieve quality objectives and manage risks.  CSQM 2 provides guidance on engagement quality reviews. 

The CSQMs contain significant changes from the current CSQC 1, and it is in the best interest of practitioners to understand these changes as soon as possible. The course will use case studies and provide examples to prepare practitioners for the adoption of the CSQMs.

This seminar will help assurance practitioners understand the International Standards on Quality Management (CSQM) 1 and 2, which are proposed to replace CSQC 1.  The CSQMs provide a new approach to quality management at the firm level, including guidance on a risk assessment process.   Understanding the new approach as soon as possible allows practitioners to identify and address risks to their practice and get a head start on compliance.

LEARNING OBJECTIVES
By the end of this seminar, participants will be able to:

  • Define the seven quality objectives to ensure compliance with CSQM 1
  • Define at least two additional quality objectives and quality risk to ensure compliance with CSQM 1
  • Develop at least two responses to identified quality risks
  • Identify when an engagement quality review is required for all of their current assurance engagements

CONTENT

  • Why and when is CSQM 1 and 2 replacing CSQC 1
  • Summary of differences between CSQM 1 and 2 with CSCQ 1
  • Defining the seven quality objectives in CSQM 1
  • Identifying additional quality risks at your firm
  • Case study:Developing responses to identified quality risks
  • Identifying when an engagement quality review is required
  • SMART (specific, measurable actionable, realistic, and timely) action steps to prepare for CSQM 1 and 2

WHO WILL BENEFIT
The seminar is intended for professionals performing assurance services such as audits and reviews of financial statements.

CPD-1 Hour(15 minutes Ethics)

When
4/1/2022 - 3/31/2023 11:59 PM
Where
On-demand