Skip to main content

Exposure Draft, International Standard on Quality Management 2, Engagement Quality Reviews

IAASB
| Exposure Drafts and Consultation Papers
English
All available Translation:
Comments due by:

To ensure that engagement quality reviews continue to be robust and effectively support high-quality audits and other engagements, the IAASB has proposed various enhancements to engagement quality reviews. This includes a new proposed standard on engagement quality reviews that includes enhancements regarding:

  • The eligibility criteria to perform the engagement quality review; and
  • The engagement quality reviewer’s performance and documentation.

The requirements addressing the selection of engagements for review have also been strengthened and are included in Exposure Draft, ISQM 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.

This memorandum should be read in conjunction with the overall explanatory memorandum, The IAASB’s Exposure Drafts for Quality Management at the Firm and Engagement Level, Including Engagement Quality Reviews.

Respondents are asked to respond separately to each of the exposure drafts and the overall explanatory memorandum. We request that comment letters do not include tables as they are incompatible with the software we use to help analyze respondents’ comments.

Exposure Drafts

 
Image
Respondents are requested to use the above Response Template to submit their comments.
Copyright © 2024 The International Federation of Accountants (IFAC). All rights reserved.

Submitted Comment Letters

  1.  ()
  2.  (Netherlands)
  3. CPA Australia (133.3 KB)
     ()
  4.  (Ireland)
  5.  ()
  6.  (Belgium)
  7.  (Pakistan)
  8.  (United Kingdom)
  9. AICPA (856.44 KB)
     ()
  10.  ()
  11.  ()
  12. Crowe Global (2.44 MB)
     ()
  13.  ()
  14.  (Uganda)
  15. CAS INTERNATIONAL (349.99 KB)
     (Malaysia)
  16.  ()
  17.  (South Africa)
  18.  ()
  19.  ()
  20. IAASA (598.12 KB)
     (Ireland)
  21.  (United Kingdom)
  22.  ()
  23.  (Germany)
  24.  ()
  25. MAZARS (957.76 KB)
     (France)
  26. SRO AAS (251.15 KB)
     (Russian Federation)
  27. NASBA (211.27 KB)
     (United States of America)
  28.  (United States of America)
  29. Mazars USA LLP (276.52 KB)
     (United States of America)
  30.  (New Zealand)
  31.  (Canada)
  32.  ()
  33.  (South Africa)
  34.  ()
  35.  (France)
  36.  (Sweden)
  37.  (Brazil)
  38.  ()
  39.  (China)
  40. EXPERTsuisse (232.73 KB)
     ()
  41.  (United States of America)
  42. CEAOB (150.58 KB)
     ()