Auditing Standard ASQM 1 Quality Management for Firms that Perform Audits or Reviews of Financial Reports and Other Financial Information, or Other Assurance or Related Services Engagements
Scope of this ASQM (Ref: Para. 3—4)Scope of this ASQM (Ref: Para. 3—4)
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Scope of this ASQM (Ref: Para. 3–4)
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Other pronouncements of the AUASB also establish requirements for the engagement partner or engagement leader, as applicable, for the management of quality at the engagement level, including ASRE 2400[5] and ASAE 3000[6] for the engagement partner, and ASSA 5000[7] for the engagement leader.[8]
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The Code[9] contains requirements and application material for members or practitioners that enable members and practitioners to meet their responsibility to act in the public interest. As indicated in paragraph 15, in the context of engagement performance as described in this ASQM, the consistent performance of quality engagements forms part of the member’s or practitioner’s responsibility to act in the public interest.