QAM SYNOPSIS

Quality Assurance Monitoring Department

Regulation, monitoring and quality improvement for practising firms and individual practitioners.

What We Do

Firm Registration & Licensing

Registering and licensing eligible auditing and accounting firms practising accountancy in accordance with the applicable regulatory framework.

Quality Monitoring

Regulating, monitoring and improving the quality of services provided by members in practice.

Technical Capacity Building

Assisting practising firms, especially Small and Medium Practices (SMPs), to strengthen their technical capabilities.

Professional Standards

Helping ensure that high standards are maintained within the accountancy profession to support public and investor confidence.

Investigation & Enforcement

Investigating and taking appropriate action against registered and licensed firms in respect of improper conduct.

Stakeholder Engagement

Developing and maintaining stakeholder relationships to enhance performance, accountability and public confidence.

Firm Registration

Application for registration as a firm is made on Form 001. The form should be printed, completed, signed and emailed to: qam@icagh.com.

A new firm registration application must be submitted together with the required supporting documentation.

Please note: Application for firm registration may not be made through the website.

Documents Required for New Firm Registration

  • A business plan (practice plan).
  • A Quality (ISQC) Manual for the proposed practice.
  • Audit software that complies with International Standards on Auditing.
  • The name of the licensed firm identified as the firm's Quality Reviewer.
  • Agreements entered into with the Quality Reviewer.
  • A Business Continuity Plan.

Form 001

The new firm registration and licensing form is available on the ICAG website.

Download Form 001

Annual Renewals

Renewal of licensed firms is not automatic. Renewal is subject to the following requirements:

  • The partner(s) holding practising licences should have renewed the licences.
  • All members of the Institute in the firm should have paid their membership subscriptions up to date.
  • All members of the Institute should have met their CPD requirement of 36 credit hours for the year, to be uploaded on the members' portal.
  • The firm should have submitted its annual returns for the current year.

Contact

Quality Assurance Monitoring Department

Email: qam@icagh.com

For assistance completing Form 001, contact the Manager, QAM.