On September 26, 2023, the AICPA released a practice aid that is designed to help both sole practitioners and small- to medium-size firms design, implement, and operate a system of quality management for their firm’s accounting and auditing practice, as required by Statement on Quality Management Standards (SQMS) No. 1, A Firm’s System of Quality Management. The practice aid contains information for both sole practitioners and small- to medium-sized firms in one document.
Additionally, there are example risk and