New AICPA Quality Management Standards: Implementing a Compliant and Effective Quality Management System
Recording of a 110-minute CPE video webinar with Q&A
This webinar will address the requirements of the AICPA Auditing Standards Board's new quality management standards. Our expert panel of CPAs, who have extensive experience in quality management will review the key components of the latest standards, explain how the requirements vary based on the size and type of firm and provide practical recommendations for establishing an effective quality management system.
Outline
- Introduction to the New AICPA Quality Management Standards
- The firm’s risk assessment process – SQMS No.1
- Developing quality responses
- The role of the Engagement Quality Reviewer- SQMS No. 2
- On-going monitoring
- Practical examples to facilitate the implementation
Benefits
The panel will cover the top 20 frequently asked questions related to the AICPA’s new quality management standards. Some of the topics to be addressed are:
- Understanding the key changes introduced by the new standards
- Common challenges and pitfalls of firms during implementation
- Scaling your firm’s system based on size, complexity, and types of engagements
- Practical tips for effectively implementing a compliant and effective quality management system
- Documenting the system of quality management and use of technology
- Monitoring and annual evaluation requirements
- Case studies of firms who have implemented a new system of quality management
Faculty
Connor Crow, CPA
Assistant Chief
CPAClub
Mr. Crow is an Assistant Chief at CPAClub, bringing over six years of comprehensive experience in both public and... | Read More
Mr. Crow is an Assistant Chief at CPAClub, bringing over six years of comprehensive experience in both public and private industry auditing. His career began at KPMG, where he spent four years honing his expertise in US GAAS and PCAOB audits. During his tenure, Mr. Crow worked on a variety of high-profile engagements, including large public filers and diverse private industry audits. At CPAClub, he plays a pivotal role in driving quality management initiatives across the firm's member base. In this capacity, Mr. Crow has been instrumental in designing and implementing quality management standards, including SQMS 1, SQMS 2, and PCAOB QC-1000, tailored to the needs of CPAClub's members. He supports both accounting firms and corporate businesses by providing customized compliance strategies, fractional audit support, and managed accounting services
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Chris Vanover, CPA
Founder and President
CPAClub
Mr. Vanover is an entrepreneur, CPA, and college educator with over two decades of diverse experience in... | Read More
Mr. Vanover is an entrepreneur, CPA, and college educator with over two decades of diverse experience in accounting, auditing, and regulation across global and regional public accounting firms, the Public Company Accounting Oversight Board (PCAOB), and academia. Recognized as one of the Top 100 Most Influential People in Accounting and an Innovator to Watch by Accounting Today, he has also been nominated for prestigious awards, including the Orange County Business Journal’s Excellence in Entrepreneurship and Innovator of the Year. Prior to founding CPAClub, Mr. Vanover was an audit partner at a Top 40 firm, where he oversaw the firm’s system of quality control for the audit practice across nine offices. His experience also includes 13 years with PwC, where he was a member of the Chief Auditor Network within its National Quality Organization. In this role, Mr. Vanover provided technical auditing and methodology advice, supported national and local leaders on audit quality initiatives, and led numerous technical training programs for engagement teams. From 2011 to 2013, he served as a technical advisor within the PCAOB’s Office of Research & Analysis, performing technical consultations and contributing to strategic projects, including developing audit quality indicators. Since 2010, Mr. Vanover has also served as an Adjunct Professor of Accounting & Auditing at local universities, sharing his knowledge and practical experience with students.
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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
Mr. Yujuico has nearly 20 years of extensive experience in both public and private industry accounting and auditing. Recognized as a 20 Under 40 Top Influencer by CPA Practice Advisor, his career reflects a deep commitment to advancing accounting and auditing practices and supporting professionals. Mr. Yujuico spent the first 12 years of his career at PwC, where he excelled in the assurance practice, serving a diverse portfolio of both public and privately held clients. His role involved complex audit engagements and provided him with a robust understanding of various industry sectors and regulatory environments. Mr. Yujuico also served in PwC’s Chief Auditor Network within its National Quality Organization. In this capacity, he advised audit engagement teams nationwide on auditing methodology and best practices, contributing to the development and implementation of key audit quality initiatives. Mr. Yujuico also played a pivotal role in facilitating numerous technical training programs, helping to elevate the firm’s overall audit quality and compliance standards. After transitioning from PwC, he spent four years in a technical accounting role at Pacific Life, a Fortune 500 financial services company. Mr. Yujuico led significant implementations of Accounting Standard Updates issued by the FASB, managing large-scale projects that required intricate coordination and strategic oversight. His efforts in this role helped ensure the company’s adherence to evolving accounting standards and enhanced its financial reporting processes.
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