Engagement Quality Reviews – IAASB
At its meeting on March 16-20, 2020, the IAASB discussed a draft of proposed ISQM 2. The IAASB supported the ISQM 2 Task Force’s proposed revisions on the scope of engagements subject to an engagement quality (EQ) review. The IAASB also reaffirmed its broad support for a mandatory cooling-off period to address objectivity for individuals moving into the role of EQ reviewer after serving as the engagement partner. The ISQM 2 Task Force will consider the comments received and will present revised proposals via videoconference on April 1, 2020.
Review the summary, including the podcast, on the IAASB's Web site.