ISQM Solution - Inflo QMS - key features and functionalityMark Edmondson Posted
Inflo QMS – the only technology-enabled ISQM product designed for accounting firms of all sizes
If your firm provides audit services then new International Standards on Quality Management (ISQM) require you to implement a system of quality management (SoQM). In 2020, the International Auditing and Assurance Standards Board (IAASB) approved a revised set of quality management standards. The new quality management standards represent a significant and important step change in how audit firms approach audit quality in the future. More importantly it is an opportunity to move from a policies-based approach to a risk-based approach.
Designing and monitoring this system inline with the standards isn’t a task for Excel, or PDF templates. Inflo QMS is here to help!
This guide summarizes some of the key features and functionality across the Inflo QMS product. The content follows the two step approach of implementation of a System of Quality Management, followed by the ongoing
monitoring and reassessment. Premium functionality is highlighted across the guide. This functionality requires the Inflo QMS+ product.
Key features include
- A library of objectives, risks, and responses
- Auto creation of your draft SoQM
- In-built support through Inflo Know
- Risk/response mapping and scoring
You’ll benefit from
- Saving significant time vs Excel approaches
- Having confidence of compliance
- More visual and intuitive support