You've done an excellent job summarizing the core elements that influence the quality of corporate auditing, according to the IAASB. I couldn't agree more that policies, procedures, and the general firm culture play significant roles in ensuring a high standard of audit quality.

Your point on corporate governance requirements caught my eye. Governance courses offer a comprehensive look into governance structures, policies, and risk management. These courses can equip auditors and corporate leaders alike with the necessary knowledge to improve the quality of financial statements and, by extension, the audits themselves.