This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Quality Control - IAASB

Date recorded:

At its meeting on December 11-15, 2017, with respect to quality control at the engagement level, the IAASB supported the direction of the proposed changes to ISA 220. In particular, the Board supported the proposed changes that emphasize that the engagement partner is responsible and accountable for audit quality. The Board encouraged the ISA 220 Task Force to consider, as it progresses revisions to ISA 220, how the proposed changes will strengthen the performance of quality audits. With respect to quality control at the firm level, the IAASB discussed a first read of the proposed exposure draft of ISQC 1 (Revised) and was broadly supportive of the direction of the standard. The Task Force will continue to progress the proposed changes to the standard for a second read of an exposure draft in March 2018.

Review the summary, including the podcast, on the IAASB's Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.