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Quality Management at the Engagement Level – IAASB

Date recorded:

At its meeting on September 14-23, 2020, the IAASB approved ISA 220 (Revised), which will be effective for audits of financial statements for periods beginning on or after December 15, 2022. Once the Public Interest Oversight Board’s confirmation that due process was followed is received, the Board will formally release the standard. In finalizing the standard, the Board focused on clarifying the engagement partner’s responsibilities, the scalability of the standard, and the linkages with ISQM 1.

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

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