Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements
This International Standard on Quality Management (ISQM (Ireland)) deals with a firm’s responsibilities to design, implement and operate a system of quality management for audits or reviews of financial statements, or other assurance or related services engagements.
Effective Date
Systems of quality management in compliance with ISQM (Ireland) 1 are required to be designed and implemented by 15 December 2022. The evaluation of the system of quality management is required to be performed within one year following 15 December 2022. Early adoption is permitted.
For the assurance of sustainability reporting, amendments to the systems of quality management related to assurance engagements undertaken in compliance with ISAE (Ireland) 3000 must be designed and implemented by 15 December 2024. The evaluation of the system of quality management including these amendments is required to be performed within one year of that date.
Current Standards
ISQM1 (Updated September 2024)
Past Standards
ISQM1 (Updated October 2023)