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 - Practice Aids 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