IAASB consults on aligning quality management standards
Released 22 February 2021
The International Auditing and Assurance Standards Board (IAASB) is seeking comments on its Exposure Draft addressing changes in some of its standards and framework resulting from the new and revised quality management standards.
The Exposure Draft aligns the IAASB’s standards related to review, assurance and related services, as well as its framework, with the quality management standards through conforming amendments. This will ensure that the IAASB's international standards continue to be applied as intended. The proposed changes will also modify IAASB standards to reflect aspects of the new quality management approach and emphasize the importance of firm-level quality management to consistent quality engagements.
Comments are requested by 24 May 2021.
Further details can be found at https://www.iaasb.org/publications/exposure-draft-proposed-conforming-amendments-iaasb-s-other-standards-and-framework-due-new-and.