Question: Topic: Quality Management in Audit & Assurance Practice Requirement In light of IAASBs (International Auditing & Assurance Standards Board) framework/guidelines, write a detailed note on

Topic: Quality Management in Audit & Assurance Practice Requirement In light of IAASBs (International Auditing & Assurance Standards Board) framework/guidelines, write a detailed note on Quality Management in practice & auditing firms. 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 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

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