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New AICPA Quality Management Standards: Implementing a Compliant and Effective Quality Management System

A live 110-minute CPE video webinar with interactive Q&A

This program is included with the Strafford CPE Pass. Click for more information.
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Monday, August 11, 2025

1:00pm-2:50pm EDT, 10:00am-11:50am PDT

Early Registration Discount Deadline, Friday, July 25, 2025

or call 1-800-926-7926

This webinar will address the requirements of the AICPA Auditing Standards Board's new quality management standards. Our panel of CPAs will review the components of the latest standards, explain how the requirements vary based on the size and type of engagement, and provide recommendations for establishing an effective quality management system.

Description

The scope of the AICPA's new Quality Management Standards is far-reaching. The standards require the creation and implementation of a new quality management system and impact all attestation engagements (audits, compilations, reviews, examinations, performance audits, agreed-upon procedures, etc).

The Quality Management Standards include four new standards, each designed to enhance the quality of CPA firms' audits:

  1. SQMS (Statement on Quality Management Standards) No. 1, A Firm's System of Quality Management
  2. SQMS No. 2, Engagement Quality Reviews
  3. Statement on Auditing Standards (SAS) No. 146, Quality Management for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards
  4. Statement on Standards for Accounting and Review Services (SSARS) No. 26, Quality Management for an Engagement Conducted in Accordance with Statements on Standards for Accounting and Review Services

The most notable change is the requirement contained in SQMS 1 to establish a monitoring program resulting in an annual evaluation of a CPA firm’s system of quality management over its auditing and attest services. This system must be in place by Dec. 15, 2025.

Implementation of the standards is imminent; they are effective for engagements with periods beginning on or after Dec. 15, 2025, with earlier implementation encouraged. Specific to SQMS 1, firms are required to design and implement a customized system of quality management by Dec. 15, 2025, with its first evaluation completed within one year. Auditing and accounting professionals must understand the new guidelines and how to implement the new standards effectively.

Listen as our panel of accounting professionals explains the content of the new quality management standards and offers advice on expeditiously establishing a compliant and effective system.

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Outline

  1. New AICPA Quality Management Standards: introduction
  2. SQMS No. 1 - A Firm's System of Quality Management
  3. SQMS No. 2 - Engagement Quality Reviews
  4. SAS No. 146 - Quality Management for an Engagement Conducted in Accordance with GAAS
  5. SSARS No. 26 - Quality Management for an Engagement Conducted in Accordance with SSARS
  6. Recommendations to facilitate implementation of a new quality management system

Benefits

The panel will cover these and other critical issues:

  • Identifying an engagement partner and a quality control reviewer
  • Scaling audit risk procedures based on the nature of an engagement
  • Tips for effectively implementing a compliant and effective quality management system
  • Documenting the system of quality management
  • Monitoring and annual evaluation requirements

Faculty

Yujuico, Brian
Brian Yujuico, CPA

Vice President
CPAClub

Mr. Yujuico has nearly 20 years of extensive experience in both public and private industry accounting and...  |  Read More

Attend on August 11

Early Discount (through 07/25/25)

CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event. See NASBA details.

Cannot Attend August 11?

Early Discount (through 07/25/25)

CPE credit is not available on downloads.

CPE On-Demand

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