CPDStore Ireland

ISQM 1 requires every firm to identify and deploy the resources needed to design, implement and operate an effective system of quality management. However under the standard, "resources" is a far broader concept than most practitioners realize. It spans human resources (firm personnel and third parties), component auditors working both within and outside the firm network, technological resources (including the rapidly growing use of AI and IT applications on engagements), and service providers.

This session will help attendees understand exactly what regulators expect, identify gaps in their own resourcing model, and build a more resilient, defensible quality management system across people, technology and third parties.

Lungi Sepotokele will cover the following topics during this webinar:

• Brief background into ISQM 1
• Human resources under ISQM 1
• Component auditors
• Technological resources
• Service providers
• Practical implementation steps

By attending this session you will:

• Understand the full scope of "resources" as defined under ISQM 1
• Be able to distinguish firm, network and third-party responsibilities across each resource category
• Understand how AI and technology fit into your firm's quality management obligations
• Be equipped to assess and address gaps in your firm's resourcing model
• Be better placed to demonstrate compliance with ISQM 1's resource requirements to regulators and reviewers

This webinar will be of particular interest to audit partners, quality management/ISQM leads, compliance and technical managers, and practitioners in small and medium-sized firms responsible for designing or maintaining their system of quality management.

Course Level: Intermediate