The clock is ticking. Accounting firms that perform engagements under the Statements on Auditing Standards (SASs), Statements on Standards for Attestation Engagements (SSAEs) or Statements on Standards for Accounting and Review Services (SSARSs) must establish systems of quality management (QM) by the Dec. 15, 2025, effective date of the new QM standards governing accounting and auditing (A&A) practices.

The IRS, which has lost about 25% of its workforce this year, is moving to fill some jobs by various means, including asking employees who accepted deferred resignations if they want to stay on the job.

Firms that haven’t started establishing their quality management system can get it done by the Dec. 15 deadline by following these steps.

Former Commissioner Danny Werfel wouldn’t predict failure for the IRS in its bid to modernize technology with less money and fewer experienced workers while preparing systems for massive changes in the new tax law. But, without seeing a plan, he said he’s dubious the agency will be successful.