Quality Management in Audit & Assurance Practice

Quality Management in Audit & Assurance Practice Requirement In light of IAASB’s (International Auditing & Assurance Standards Board) framework/guidelines write a detailed note on Quality Management in practice & auditing firms. The write-up should include procedures relating (Minimum 1500 words):

Leadership Responsibilities;

Ethical Requirements;

Business Promotion; Structure of the Firm;

KYC procedures and risk assessment before accepting any new engagement.

You should incorporate the references from the following: ISQC 1 “Quality control for firms that perform audits and reviews of historical financial information, and other assurance and related services engagements”. ISA 220 “Quality control for audits of historical financial information.