Description
Course outline:
As an engagement partner it is important to ensure that your approach to quality reviews always enables continuous improvement. Quality reviews are often experienced as very negative. However by applying certain principles during the review process it is possible to turn around the review process into a powerhouse of opportunity.
This session provides practical insights into how the engagement partner can turn a quality review into a potential learning experience not only for the partner, but for the entire engagement team.
Content:
The session will start with an introduction to some specific requirements in terms ISQM 1 and ISQM 2. Thereafter practical case studies and examples will be shared.
1. The review requirements of ISQM 1.38c
2. The review requirements of ISQM 2
a. What are the responsibilities of the reviewer?
b. What are the responsibilities of the firm?
c. What are the responsibilities of the engagement partner?
3. Practical discussion
a. How to develop an effective review plan for your firm
b. During the review:
i. Know the requirements of the standards
ii. When to accept a finding and when to stand your ground
iii. How to draft a response to a finding
c. What follows after the review:
i. How to monitor the effectiveness of the plan
ii. How to remediate deficiencies
1. Continuous knowledge and skills development
2. Continuous quality improvement
3. Consequence management
4. Q&A
5. Closing remarks
Important to note:
- The course is open for 12 months and will then close
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A recording will be made available after the session. The recording will be available even if you were not able to join the session, and thus no refund will be applicable.
