AQM – Audit Quality Management Specialist Certificate
What are the learning outcomes?
The Certificate offers a comprehensive educational pathway designed to develop the competencies outlined in the Competency Framework for Audit Quality Management Specialists.
The learning outcomes encompass all the necessary competencies for establishing and implementing the System of Audit Quality Management (SoAQM) in line with the revised ISSAI 140. This includes outcomes that focus on knowledge, skills, and personal attributes, ensuring that SAI auditors demonstrate required competencies for facilitating systems of audit quality management.
Each SAI professional participating in AQMS will complete TWO papers:
- One foundational paper: This covers outcomes related to setting up the SoAQM, excellence and professional behaviour, stakeholder engagement, and drive for positive change.
- Either one of the two specialised papers: Focused on Quality Risk Management, and Monitoring and Remediation, participants will choose specialisation based on their role and interests. The learning outcomes will ensure they develop deep knowledge and skills necessary for executing quality management processes effectively.
Learn more about the learning outcomes below!
Learning outcomes of Foundational Paper
Explain the new approach to audit quality management in accordance with the revised ISSAI 140
Explain the Quality Risk Management Process involving the establishment of quality objectives, identification and assessment of quality risks, design and implementation of responses, and the update on the results as needed
Explain the Monitoring and Remediation Process involving review of the system at the organisational level, and review of audits at the engagement level
Explain the evaluation process including the conclusion on the system
Define the roles and responsibilities of an Audit Quality Management Specialist that will support the overall and operational responsibilities identified in the standards
Conduct needs analysis to enable transition from the existing systems to the System of Audit Quality Management
Identify a fit for purpose approach to set up the system reflecting the specific SAI context
Develop SoAQM policies and procedures based on the results of the needs analysis
Define minimum documentation for the design, implementation and operation of the System of Audit Quality Management
Facilitate the set up and maintenance of the System of Audit Quality Management.
Design effective change management strategy to support the design, implementation and operation of the System of Audit Quality Management Specialist
learning outcomes of QUALITY RISK MANAGEMENT PAPER:
Establish quality objectives appropriate for the SAI context
Identify quality risks that threaten the achievement of quality objectives
Assess the likelihood and impact of quality risks
Respond to the assessed quality risks by defining the design proportionate to the risks, and tracking implementation efforts
Implement Engagement Quality Review (EQR) as response to quality risk involving the significant judgments made by the audit engagement team and the conclusions reached
Update the result of the quality risk management to adapt to the changes in the nature and circumstances of the SAI or its engagements
Prepare sufficient and appropriate documentation for the quality risk management process
Learning outcomes of MONITORING AND REMEDIATION PAPER
Plan the monitoring and remediation activities
Perform monitoring and remediation at the organisational level and engagement level
Identify deficiencies in the system and Analyse root causes of the deficiencies using appropriate tools
Evaluate the pervasiveness and severity of the deficiencies
Design remedial actions to address the deficiencies including their root causes
Evaluate the appropriateness of the design and implementation of the remedial actions
Prepare a report that appropriately reflects the result of monitoring and remediation action
Prepare sufficient and appropriate documentation for the monitoring and remediation process