Implementing the New Quality Management Standards: Time to Get to Work

Overview

The Statement on Quality Management Nos. 1 and 2 mandates that any firm involved in SSARS, SAS, or SSAE engagements must develop and implement a system of quality management (SQM) by December 15, 2025—a deadline that’s approaching fast. The SQM will replace the current quality control system that underpins peer reviews. The AICPA is growing increasingly concerned about the slow progress firms are making in developing their SQM, with many not even aware of the SQMS requirements! This seminar will take a dive deep into the eight components of an SQM, providing practical examples of how to apply them in real-world situations. Gain a solid foundation to start building your firm’s SQM and explore the AICPA’s guidance specifically tailored for sole practitioners and smaller firms. And the best part? The seminar is led by someone who’s in the same boat as practitioners—actively applying these requirements in their own practice. Join us for four hours of crucial and engaging learning!

Designed For

CPA firm partners or owners.

Objectives

• Gain a comprehensive understanding of the Statement on Quality Management Nos. 1 and 2.
• Explore the eight components of a System of Quality Management (SQM).
• Apply SQM components in real-world scenarios.
• Identify common challenges firms face in developing an SQM and explore strategies to overcome these obstacles.
• Build a solid foundation for creating your firm’s SQM
• Leverage AICPA assistance guides to support SQM development, particularly for smaller firms and sole practitioners.

Preparation

Notice

• This course is valid for one year from the purchase date and will available to access in the My Upcoming CPE section of the ISCPA website after purchase. A certificate of completion will be sent via email upon successful completion of the course.
• This course is a recording of the live course offered on October 30, 2024.