Event Description

Quality management will have a big impact on CPA firms. This course will cover both SQMS 1 and 2 as well as the related engagement level standards (SAS 146 and SSARS 26). The new standards will require a risk-based approach to quality management as well as the documentation of an information & communication process. This two hour class will provide a deep dive into what you need to know to start your implementation process! Rebroadcast from 8/14/2024

Designed For

This course is tailored for CPAs, auditors, firm partners, quality control professionals, and anyone responsible for implementing or overseeing quality management systems in accounting and auditing practices. It is ideal for practitioners at firms of all sizes seeking a deeper understanding of the new standards and their practical application.

Objectives

Recall the components of quality managementunder SQMS 1 Describe the objective of an engagementquality review under SQMS 2 Identify the specific responsibilities of theauditor regarding quality management underSAS 146 Recall the responsibilities of the engagementpartner in SSARS engagements

Major Subjects

• Overview of the new and revised AICPA Quality Management Standards
• Comparison of existing standards and key changes
• The risk-based approach to quality management
• Documentation requirements and best practices
• Strategies for implementing and sustaining compliance
• Practical case studies and application exercises