The Standards on Quality Management (SQM 1 and SQM 2) were scheduled to come into force from 1st April 2026. These standards were intended to replace the existing Standard on Quality Control (SQC 1), which has been in force since 2009 and governs quality control for audit and assurance engagements. ICAI has decided to postpone the implementation of SQM 1 and SQM 2 until further notice. As a result, SQC 1 will continue to remain applicable to audit firms and professionals for the time being.