Quality Assurance Network

The QAN aims to build a peer-to-peer network of representatives from leading European professional bodies in order to promote and maintain high standards of quality in the audit of non-PIEs through risk-based quality assurance monitoring and support. In doing so, the QAN contributes to the promotion of high-quality corporate reporting, economic stability and business confidence across the non-PIE sector.

Recognising the invaluable role that professional bodies play in delivering and/or supporting audit quality improvement in their jurisdictions, the QAN fosters best practice by sharing a range of proven monitoring and support methodologies. The QAN also encourages discussion and the sharing of case studies to improve understanding, practical application and consistency.

The QAN works:

• To promote and share best practice in risk-based quality assurance monitoring by professional bodies.
• To enhance the relevance, efficiency and effectiveness of professional bodies to achieve and maintain valued quality assurance and support services relating to non-PIE audits.
• To enhance the confidence of public oversight boards in the active involvement of professional bodies in non-PIE audit quality assurance, whether this is delegation to professional bodies of quality assurance responsibilities for non-PIE audits, or via the provision of advice, guidance and support to public oversight boards.
• To participate in the dialogue related to non-PIE audit regulation, including via engagement with the Committee of European Auditing Oversight Bodies (CEAOB) and the European Commission.

The QAN brings together professional bodies in a practical, cost-effective and outward-looking way to address specific needs and challenges. Members include both professional bodies with delegated authority for non-PIE quality assurance (whether exercised via peer reviewer or via employed reviewer models) and those without delegated authority.

Participating bodies are encouraged to actively engage in the QAN to enable the development of meaningful dialogue across countries and develop QAN initiatives where there is common interest. Interested bodies are invited to initially join as observers, to get first-hand experience of the QAN’s key features.

The QAN privileges an open way of working, with a view to finding areas of common interest and delivering value to all participants. All members have an equal voice and are encouraged to present and share insights, approaches, concerns and challenges.

A steering committee, supported by ICAEW, provides strategic and preparatory input for the QAN. It is chaired by Marius Lanskoronskis, Director of the Lithuanian Chamber of Auditors.

Spring 2024, Dublin

On 11-12 April, the ICAEW’s Quality Assurance Network (QAN) met in Dublin, hosted by the Chartered Accountants Ireland.

45 participants from 16 professional bodies exchanged views and their experience in the fields of implementation of the EU Corporate Sustainability Reporting Directive, audit quality assurance including risk-based review strategies, ISQM1 requirements and Artificial Intelligence (AI) with guest speakers from Accountancy Europe and the Irish audit oversight body (IAASA).

The QAN aims to build a peer-to-peer network of representatives from leading European professional bodies to promote and maintain high standards of quality in the audit of non-PIEs through risk-based quality assurance monitoring and support. The countries represented in Dublin were Bulgaria, Cyprus, Estonia, France, Germany, Greece, Ireland, Latvia, Lithuania, Malta, Netherlands, Portugal, Romania, Scotland, Spain & United Kingdom.

Autumn 2023, Portugal

The QAN met in Porto, hosted by the Portuguese Chamber of Auditors (OROC) with representatives from sixteen professional bodies including new participants from Spain and Italy. Topics discussed included ISQM1 implementation, sustainability assurance and AQIs, with guest speakers from IFAC and a session with the Head of the Audit Oversight Department at the Portuguese Securities Market Commission, (CMVM).

• Watch the recording

June 2023, Vilnius

Representatives from 12 European professional bodies met for the QAN 2023 spring meeting, hosted by the Lithuanian Chamber of Auditors (LAR). Topics addressed included implementation of ISQM1, developments relating to sustainability assurance, the growing regulatory focus on professional judgement and the issues relating to cybersecurity. The Vilnius meeting also included a practical exchange of experiences in relation to grading the quality of audit work in professional bodies’ reviews as well as more thematic approaches to quality assurance. Key areas of concern were also discussed with the Lithuanian Professional Oversight Board.

• QAN Vilnius statement

November 2022, Berlin

The QAN met in Berlin on 23-25 November, hosted by the Wirtschaftsprüferkammer (WPK). Participants from 11 countries, addressed a number of issues including ISAs 315 (revised) & 540, ISQM1 and assurance engagements. QAN research on the regulatory framework for quality assurance across different European companies was also presented. Other sessions provided participants with the opportunity to exchange perspectives on file grading and specific case studies. The QAN agreed to continue to work on related topics in 2023, with the next meeting due to be hosted by the Lithuanian Chamber of Auditors in Vilnius.

June 2022, Athens

The Athens meeting, hosted by the Institute of Certified Public Accountants of Greece (SOEL), enabled a practical exchange of experiences in relation to grading the quality of audit work in professional bodies’ reviews while also considering the potential impact of ISQM1 for smaller audit firms and non-PIE audits.

• SOEL press release post-QAN
• SOEL press release pre-QAN