
Understanding and Implementing the New Quality Management Standards
Enhancing your understanding of risk assessment and quality management can help you implement effective quality management systems for your firm’s A&A practice.
Format
Online
NASBA Field of Study
Auditing
Level
Basic
CPE Credits
8
Author(s)
AICPA and CIMA staff
Availability
1 year
Product Number
QM25SSO
Mastering quality management standards
New quality management (QM) standards represent a significant change in how CPA firms will approach quality control for future audits. Firms must implement a quality management system before the transition deadline on December 15, 2025.
You’ll understand the primary changes introduced by the QM standards, including those related to the following topics:
- Peer review
- A new risk-based approach
- Revised components of the system of quality management
- Enhanced leadership and governance requirements
- New monitoring and remediation processes
Tools to help implement changes
A practice aid and companion resources have been added to help you, and your firm comply with the new quality management standards based on the firm size.
You’ll walk through examples that demonstrate how the practice aid and the Example Risk Assessment Template can be used to help when implementing
Learning from the experts
You’ll hear from the following leading experts in the field:
Ahava Goldman, CPA, CGMA is an associate director with the Audit and Attest Standards team at AICPA® and CIMA®, together as the Association of International Certified Professional Accountants. She is the staff liaison for the AICPA Auditing Standards Board and supports its standard-setting activities. Ahava served as a technical adviser on the International Audit and Attest Standards Board from 2015 to 2019. She has presented on auditing standards at conferences in 40 states and the District of Columbia. Previously, Ahava was a senior manager on the AICPA Examinations Team, where she was responsible for the content and development of all sections of the Uniform CPA Examination. Before joining the AICPA, she worked in public accounting at local and national firms.
Sherry Chesser is a member of Landmark PLC, specializing in assurance and bond arbitrage practice areas, with industry experience in tax-exempt debt compliance, employee benefit plans, and not-for-profit organizations. She is a member of the Auditing Standards Board and its Quality Management Task Force.
Joseph Lynch is a managing director and shareholder at Johnson Global and has extensive experience in technology, audit, and audit quality compliance. Joe is the quality management services leader at JGA where he works with mid-market public accounting firms worldwide to implement quality management programs that integrate technology and process to improve the delivery audits.
Rick Reeder is the owner of Reeder & Associates, PA a local CPA firm in Tampa, Florida. His diverse range of clients includes those in the areas of not-for-profit, employee benefit plans, construction and CIRAs. He has over 30 years of auditing experience including 10 years with international accounting firms. Rick is also an experienced peer reviewer.
Who Will Benefit
- CPAs
- Peer reviewers
- QM directors
- AICPA members
- Auditors
Key Topics
- Expectations for firms and engagement partners
- New monitoring and remediation processes
- Quality management system components
- Firm’s risk assessment process
- Updating and adjusting the risk assessment process
- Firm’s quality objectives
Learning Outcomes
- Identify the new quality management standards.
- Identify your firm’s risk assessment process.
- Identify the monitoring and remediation processes.
- Identify the resources firms will use to operate the system of quality management.
- Recognize the components of a quality management system.
- Identify the key components of the firm's risk assessment process.
- Estimate the impact of various risks on the firm's quality objectives.
- Select appropriate strategies for updating and adjusting the risk assessment process.
Group ordering for your team
2 to 5 registrants
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Start order6+ registrants
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US customers call 1-800-634-6780 (option 1)
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