This slide deck provides an overview of the Auditing Standards Board's (ASB) proposed Quality Management standards and the following topics:
Issues identified
Convergence with IAASB standards
Statement on Quality Management Standards (SQMS) No. 1, A Firm’s System of Quality Management:
The system and its components
Governance and leadership and overall responsibility for the system
The risk assessment process
Resources
Information and communication
Monitoring and remediation
The firm's responsibilities when it uses the network requirements or network services
Other aspects