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  • Writer's pictureCCS

ISQC 1: Audit Firms must ensure that their Audits adhere to Quality Standards

Updated: Jul 3, 2022

The purpose of this is to reduce the RISKS of:

  • Litigation brought against the Firm for alleged violations of professional conduct;

  • Incorrect opinion from the auditor, and as a result, boosted confidence in the reliability of the financial statements among investors


  • 审计事务所因涉嫌违反职业行为而面对诉讼的风险;

  • 审计师提供不正确意见的风险,并因此增强投资者对财务报表可靠性的信心

There are 2 Different Quality Control Standards
  • At the firm level:

  • the International Standard on Quality Control 1 (ISQC 1) is Quality Control for Firms that carry out audits and reviews [*]