24SR-P048: Implementing the New Quality Management Standards: Time to Get to Work (Virtual)

Wednesday, October 30, 2024
8:00am - 11:45am Central Time
4 CPE (4 technical)

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 SQM 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.

Major subjects

• Introduction to System of Quality Management (SQM)
• Components of an SQM
• Developing and implementing your firm's SQM
• AICPA guidance for smaller firms and sole practitioners

Learning objective(s)

• 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.

Who should take this program?

CPA firm partners or owners

Fees

Standard Member Fee	$209.00
Standard Nonmember Fee	$259.00