IFAC SMP Committee Publishes Quality Control Implementation Guide

    Filter By

     
     

    Press Releases/News Alerts

    Jul 27, 2010
    New York

    English

    SMP Committee

     

    Find more news & events related to:
    SMP/SME

    Keep Updated
    Get the latest news delivered to your inbox.

    Get the latest updates delivered straight to your inbox
     

    IFAC SMP Committee Publishes Quality Control Implementation Guide

    The Small and Medium Practices (SMP) Committee of the International Federation of Accountants (IFAC) today issued the second edition of its Guide to Quality Control for Small- and Medium-Sized Practices (QC Guide) The implementation guide is intended to help SMPs understand and efficiently apply the redrafted International Standard on Quality Control (ISQC) 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements.


    The first edition of the QC Guide was issued in March 2009 and went on to become IFAC’s second most downloaded publication after the Handbook of International Auditing, Assurance, and Ethics Pronouncements last year. The new edition conforms to the revised and redrafted Code of Ethics for Professional Accountants and includes various improvements based on feedback from users of the first edition. It features an integrated case study, practical checklists and forms, and two sample quality control manuals.

    IFAC wishes to thank the Certified General Accountants Association of Canada (CGA-Canada) for producing the QC Guide for free and the global panel of reviewers for volunteering their time and effort to helping with its development.

    “This guide will help SMPs to cost effectively implement ISQC 1 and ensure that they can provide high-quality assurance and related services to their clients,” said SMP Committee Chair Sylvie Voghel.

    The PDF version of the QC Guide can be downloaded from the Publications and Resources section of the IFAC website at http://web.ifac.org/publications/small-and-medium-practices-committee. In addition, CGA-Canada is currently working on developing a French translation of the QC Guide. It will be available on the Translations Database of the IFAC website in September.

    The IFAC SMP Committee welcomes readers to visit its International Center for Small and Medium Practices (www.ifac.org/smp), which hosts a collection of IFAC publications and relevant links to resources from IFAC member bodies and other organizations, including a category devoted to implementing international standards.

    About IFAC
    IFAC (www.ifac.org) is the global organization for the accountancy profession, dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of 159 members and associates in 124 countries and jurisdictions, representing more than 2.5 million accountants in public practice, education, government service, industry, and commerce.

     

    Related Resources

     
     
     
 

Important Note: Please read our website Terms of Use.

ALL RIGHTS ARE RESERVED. You may not reproduce, store or transmit in any form or by any means, electronic or otherwise, including photocopying, recording, or storage in any type of reference or information retrieval system, nor may you translate, modify or create derivative works or adaptations based on the text of any file, or any part thereof, without the prior written permission of the International Federation of Accountants (IFAC). Please direct permission requests to permissions@ifac.org. See also Permissions Information.