Establishing and Maintaining a System of Quality Management for a CPA Firm’s Accounting and Auditing Practice

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Upholding quality management standards

The Practice Aid, Establishing and Maintaining a System of Quality Management for a CPA Firm’s Accounting and Auditing Practice is intended to help CPA firms design, implement, and operate a system of quality management for their accounting and auditing practice. As required by Statement on Quality Management Standards (SQMS) No. 1, issued by the AICPA, firms must implement a quality management system before the transition deadline on December 15, 2025.

Quality management made easy

The practice aid and Example Risk Assessment template were created to help you apply a risk-based approach to quality management, identify quality risks to your firm, and implement policies and procedures as necessary for your practice.

Updated in 2025, the Practice Aid, Establishing and Maintaining a System of Quality Management for a CPA Firm’s Accounting and Auditing Practice provides a streamlined approach, ensuring you’re well-prepared to meet the requirements of the QM standards, including specific considerations for small- and medium-sized firms, and for sole practitioners.

The practice aid is intended to work in tandem with the appropriate Example Risk Assessment template, based on your firm size. The Example Risk Assessment template offers a starting point for identifying the objectives, risks and responses for each required component in a robust system of quality management.

Key Topics

• Quality management (QM) system evaluation
• Mapping from extant SQCSs to SQMSs
• QM documentation information
• New monitoring and remediation processes
• QM system components
• Risk assessment process and template
• QM for firms that are part of a firm network
• Firm’s quality objectives

Who Will Benefit

• CPAs
• Peer reviewers
• QM directors
• AICPA members
• Auditors