Every firm that performs engagements in accordance with the Statements on Auditing Standards (SASs), Statements on Standards for Accounting and Review Services (SSARSs), or Statements on Standards for Attestation Engagements (SSAEs) must implement the new quality management standards, which replace the current policies-based quality control standards with a risk-based system of quality management.
The new standards provide firms the ability to tailor quality management for their practice, clarify assigning responsibilities in the firm, improve transparency in how quality is
Professional Insights
Quiz: Test your knowledge of the new QM standards
Oct 24, 2023 · 1 min read
FREE ACCOUNT
ACCESS
Already a member?
Log in with your account
Not a member?
To gain access to exclusive content, your first step is to join the AICPA & CIMA.