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Quality Control at the Engagement Level – IAASB

Date recorded:

At its meeting on June 18-23, 2018, the IAASB discussed a first read of the draft Exposure Draft of ISA 220 (Revised) and was broadly supportive of the direction of the proposed changes. The Board requested the ISA 220 Task Force to align the language in the standard with ISQC 1 (Revised). The Board also discussed the circumstance when there is an individual other than the engagement partner who signs the auditor’s report, either instead of, or in addition to, the engagement partner. The Board concluded that additional research needs to be carried out related to this issue prior to any standard-setting activities commencing.

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

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