This second edition of the Guide conforms to the revised and redrafted Code of Ethics for Professional Accountants and includes various improvements based on feedback from users of the first edition. It features an integrated case study, practical checklists and forms, and two sample quality control manuals.

The Guide provides non-authoritative guidance on applying the ISQC 1. It is not to be used as a substitute for reading ISQC 1, but as a supplement to help practitioners understand and consistently implement this standard within their firms when developing a system of quality control for audits and reviews of financial information, and other assurance and related service engagements.

A Word version is available for member bodies and others who wish to translate or adapt this publication. Contact permissions@ifac.org.

IFAC's Small and Medium Practices (SMP) Committee commissioned this guide, the first in a series of implementation guides, to assist SMPs and other auditors of small and medium entities (SMEs) in applying International Standards on Auditing to the audit of SMEs. The guide provides a detailed analysis of the standards and their requirements in the context of an SME audit.

A Word version is available for member bodies and others who wish to translate or adapt this publication. Contact permissions@ifac.org.