New Quality Management Standards: Bringing It All Together - Exploring All Components of a Quality Management System

Overview

Pull together all components for an effective and tailored QM system (bold)

For a quality management (QM) system to be successful, it needs achievable objectives and tailored processes in place to enable the performance of quality engagements. It also needs clearly articulated roles and responsibilities and the ability to identify, evaluate, and correct deficiencies.

The revised QM standards are designed to emphasize firm leadership’s responsibility for proactively managing quality, strengthening a firm’s monitoring and remediation processes, and advancing the ability of the firm to tailor its system of quality management to the nature and circumstances of the firm.

To succeed under these new standards, you’ll need to know how to set up a functioning QM system that will help your firm identify and address risks for its audit and assurance practice.

Fourth in a four-part webcast series (bold)

This is the fourth webcast in a four-part series on the Auditing Standard Board’s (ASB) new Quality Management Standards and looks at how to create an effective QM system. You’ll take a deep dive into aspects of the ASB’s Statement on Quality Management Standards (SQMS) No. 1, A Firm’s System of Quality Management (ital).

Attendance in each webcast in this four-part series will earn you one CPE credit. You can participate in one or all based on your interest in the topics. A rebroadcast of this webcast is scheduled for Dec.15, 2022, at 2:00pm ET.

Objectives

• Apply the requirements of SQMS 1.
• Design and implement a system of quality management

Highlights