Kuala Lumpur, October 2025<\/strong> \u2014 Malaysia\u2019s audit profession is entering a new era of accountability and excellence. With the rollout of International Standards on Quality Management (ISQM 1 & ISQM 2)<\/strong>, practices across the country \u2014 from large firms to SMPs \u2014 must rethink how they manage, monitor, and evaluate audit quality.<\/p>\n These standards, issued by the International Auditing and Assurance Standards Board (IAASB)<\/strong> and adopted by the Malaysian Institute of Accountants (MIA)<\/strong>, are effective for audits of financial statements beginning on or after 15 December 2022<\/strong>. Although the effective date has passed, many firms are still enhancing their documentation and monitoring frameworks.<\/p>\n