Asigurarea calității misiunilor de audit în conformitate cu cerințele actuale ale standardelor internaționale profesionale

Abstract

Audit entities must have quality management systems in place designed and implemented in accordance with ISQM 1 „Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements”, ISQM 2 „Engagement Quality Reviews” and ISA 220 (Revised) „Quality Management for an Audit of Financial Statements” by 15 December 2022. The application of these standards will strengthen the quality system of an audit entity by a robust, proactive and effective approach to quality management. The standards encourage audit entities to design a quality management system that is tailored to the circumstances of the entity and the nature of the commitments made. The transition to the new standards will bring significant transformations for audit entities, and the addition of new elements relevant to modern realities will develop important issues, such as IT and human resources. The International Standard for Quality Management ISQM 2 is a new standard and has been designed to assess the quality of completed audit assignments. Assessing the quality of audit engagements is an indispensable part of the quality management process. We find that ISQM 2 is largely based on the requirements of other IAASB standards, such as ISQC 1 itself and, implicitly, ISA 220. A very problematic aspect mentioned in this investigation is the corporate culture within the audit entity, which also determines the quality of management. In this regard, modern trends have also been taken into account, such as modern ways of communicating between audit entities and their stakeholders. The research of these issues has taken into account the difficulties of small and medium-sized audit firms in enforcing standards, taking the responsibility of partner engagement leaders and, of course, ensuring certain aspects of the audit process itself that aim to manage audit quality. CZU: 657.6:005.6; JEL: M42; DOI: 10.5281/zenodo.7063767