ICAI Approves the Audit Quality Maturity Model Version 2.0

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By Taxmann
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Last Updated on 23 August, 2024

ICAI

The Audit Quality Maturity Model (AQMM) is a cross functional evaluation model developed with an objective to enable audit firms to evaluate their current level of audit maturity and also to identify areas where competencies needs to be strengthened.

Earlier on 12th July, 2024 the ICAI released a notification wherein it asked its member to provide their feedback on the exposure draft of the second version of AQMM viz “AQMM v 2.0”. Considering all those feedback, the council of ICAI has now through its announcement dated 22nd August 2024 approved the AQMM v 2.0.

To understand the AQMM, its applicability, and the scores designated under AQMM v 2.0.

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