Implementing the New Quality Management Standards: FAQs

How did standards relating to firm quality change?

• The revised quality management (QM) standards introduced a new risk-based approach to quality management that requires firms to customize the design, implementation and operation of their system of quality management.

• A new risk-assessment component is included, as is a new information and communication component.

• New requirements for networks and service providers, for example, to understand network-related quality management and monitoring activities, are now included.

• A separate standard