Quality Management: My System is Set Up -- Now What?

Overview

With the design and implementation of your firm’s system of quality management complete, the firm now focuses on operating, maintaining, and continuously improving that system.

This webcast explores the ongoing post-implementation requirements of SQMS No. 1, including:

Understanding engagement performance responsibilities

Performing and documenting monitoring activities

Identifying and evaluating findings and deficiencies

Implementing, evaluating, and tracking remediation

Conducting the required annual evaluation of the system and periodic performance evaluations of those assigned ultimate and operational responsibility for the system

Learn how to keep your firm's system responsive, current, and effective in maintaining and promoting quality.

Highlights

Additional ongoing requirements of SQMS NO. 1

Monitoring and remediation requirements

Identifying, evaluating, and responding to findings and deficiencies

The required annual evaluation of the system of quality management

Evaluating the performance of those with responsibilities

Considerations for firms in a network

Sole practitioner and small firm guidance

Prerequisites

‘- General understanding of the participant’s firm’s system of quality management.

Familiarity with SQMS No. 1 (QM section 10).

Designed For

Sole proprietors of audit and assurance firms

Responsible partners and staff at small- and medium-sized audit and assurance firms

Objectives

Determine the requirements of SQMS No. 1 that apply to the firm's fully designed and implemented system of quality management.
Recall the importance of the monitoring and remediation process and ways to design, perform, and improve through its application.
Recognize the responsibilities of professional staff for the established system of quality management.
Compare the application of requirements for sole proprietors and for firms with additional professionals.

Notice

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by AICPA.