Guidance on ISQC (Ireland) 1 – new Technical Alert published

May 31, 2018

Chartered Accountants Ireland has published Technical Alert 03/2018 Guidance on International Standard on Quality Control (Ireland) 1. The purpose of this Technical Alert is to highlight changes made to ISQC (Ireland) 1, from ISQC (UK and Ireland) 1. The source of these changes is primarily the relevant requirements of the EU Audit Regulation and Directive. 

IAASA issued the Irish audit framework on 31 January 2017, which includes International Standard on Quality Control (Ireland) 1 Quality Control for Firms that Perform Audits and Reviews of Financial Statements, And Other Assurance and Related Services Engagements (‘ISQC (Ireland) 1’).   

Systems of quality control in compliance with ISQC (Ireland) 1 were required to be established by firms in Ireland by 1 February 2017.  

This Technical Alert is based on the March 2018 edition of ISQC (Ireland) 1.  

Technical Alert 03/2018 is available here.