FRC revises UK quality management standards
News types: Codes and Standards Announcements, Operating Procedures, Policies and Responsibilities, Publications, Statements
Published: 9 July 2021
- International Standard on Quality Management (UK) 1 Quality Management For Firms That Perform Audits Or Reviews Of Financial Statements, Or Other Assurance Or Related Services Engagements
- International Standard on Quality Management (UK) 2 Engagement Quality Reviews
- International Standard on Auditing (UK) 220 (Revised July 2021) Quality Control For An Audit Of Financial Statements
- Conforming Amendments to ISAs (UK) Arising from Quality Management Standards
The standards are effective for audits of financial statements for periods beginning on or after 15 December 2022. Early adoption of the revised standards is strongly encouraged.
The feedback statement and impact assessment is available here .