Aron Kleiman, head of audit and accounts at Wilson Wright LLP, explains why the requirements of ISQM (UK) 2 apply to all firms, not just the largest ones
15 December 2022 was a key date for audit practices worldwide as the quality management system required under ISQM1 needed to be fully designed and implemented by this point.
In my last article for Croner-i, I reflected on the impact of ISQM (UK) 1 Quality management for firms that perform audits or reviews of financial statements, or other assurance or related services engagements on mid-tier practices here in the UK.
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