Quality Management Standards (SQM)
New Quality Management Standards
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. To support firms in navigating these new standards and implementing them effectively, ISCPA has gathered a collection of valuable resources, including courses, podcasts, articles, and templates. Explore these resources below.
- AICPA resources (may require membership)
- SQMS 1 Responsibilities and Understanding the Firm (XLSX template)
- Quality management: Details of a standard-setting journey (podcast)
Journal of Accountancy - How the new QM standards may affect peer review
Journal of Accountancy - Engagement quality reviews: What auditors should know
Journal of Accountancy - New SSAE caps standards related to quality management
Journal of Accountancy - Firm checklist to guide your quality management system (free AICPA account required to access).
- Mapping between SQMS No. 1 and SQCS No. 8 (free AICPA account required to access).
- AICPA board approves update to peer review standards, Journal of Accountancy
Quality Management Standards Education
The Practical Path to QMS Implementation
July 16 | 9-10:40 a.m. CDT | Live Virtual Seminar | 2 hrs CPE
Get practical, easy-to-understand guidance on implementing the new Quality Management Standards (QMS). This course will help you align updated requirements with your firm’s current practices, highlight areas already in compliance, and offer real-world tips for a smooth transition. Learn about key elements of the QMS framework, common challenges to avoid, and strategies for ongoing monitoring and improvement.
Bonus: Registration includes access to a live Q&A session on August 13 from 10–11:30 a.m. CT, where you can get answers to your firm’s specific QMS questions. (Note: No CPE is awarded for the Q&A.)
Avoiding Deficiencies in Peer Reviews: Focus on Engagement Quality
August 14 | 7:30-11:30 a.m. CDT | Live Virtual Seminar | 4 hrs CPE
With increased scrutiny on audit quality and peer review outcomes, this course offers essential guidance for auditors navigating evolving standards. Learn how to improve audit quality, meet documentation requirements, and implement the revised risk assessment standards (SAS 145). The course will cover common peer review findings, key areas of audit deficiencies, and best practices for addressing them. It also includes an overview of the new Quality Management Standards (QMS) and what firms need to do to comply by the 2025 deadline. Gain practical tools to strengthen your audits and enhance your firm’s compliance and reputation.
Guide to the AICPA Quality Management Standards
August 14 | 12-2 p.m. CDT | Live Virtual Seminar | 2 hrs CPE
Get ready for the upcoming implementation deadline of the AICPA’s Quality Management Standards and related guidance, including SAS 146, SSARS No. 26, and SSAE 23. This course goes beyond theory to show you how to apply the new requirements in practice. Learn how to conduct a risk assessment, develop a robust Quality Management document, and implement an effective monitoring plan. With a focus on proactive quality management, this course will help your firm meet the December 15, 2025 deadline and prepare for ongoing evaluation starting in 2026.