Member Organisations
International Federation of Accountants – https://www.ifac.org/
IFAC Quality Management Series: Small Firm Implementation
A three-part publication series to help small- and medium-sized practices implement the International Auditing and Assurance Standards Board’s quality management standards. The IAASB’s suite of quality management standards were issued in December 2020 and came into effect on December 15, 2022.
The three-part series provides tips and guidance for practical implementation of the IAASB’s standards. This series joins IFAC’s collection of available resources that support quality management implementation, including webinars, articles and videos, as well as the IAASB first-time implementation guides, all of which are available at ifac.org/qualitymanagement.
October 31, 2022 – Installment One – It is time to get ready for the new quality management standards
Installment One: It is time to get ready for the new quality management standards addresses the mindset change the new standards require and the shift in focus from quality control to quality management. It also includes developing a project implementation plan, an introduction to quality objectives, the risk assessment process, and assigning roles and responsibilities. Helpful meeting agenda templates practitioners can use with their colleagues are also included.
July 5, 2023 – Installment Two – Developing a detailed implementation plan
Installment Two: Developing a Detailed Implementation Plan It provides a step approach to identifying your quality objectives; completing your quality risk assessment process; identifying existing, or creating new, responses to those quality risks; and implementing, documenting, and communicating your system of quality management.
September 24, 2024 – Installment Three – Monitoring and Remediation
Installment Three: Monitoring and Remediation provides tips and guidance for the practical implementation of the monitoring and remediation of a firm’s system of quality management.