26, Quality Management for an Engagement Conducted in Accordance With Statements on Standards for Accounting and Review Services
The ASB voted to approve three standards, and the Accounting and Review Services Committee is expected to approve a fourth. May 12: The AICPA Auditing Standards Board (ASB) recently approved new quality management standards intended to increase a firm's risk assessment and audit quality.
GENERALLY ACCEPTED AUDITING STANDARDS SAS SSARS SERIES
The AICPA has also developed a four-part webinar series to guide practitioners on the changes. To learn more, visit the AICPA’s resource page on quality management. 15, 2025, and the AICPA suggests firms begin the implementation process now. 26, Quality Management for an Engagement Conducted in Accordance with Statements on Standards for Accounting and Review Services 146, Quality Management for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards Statement on Quality Management Standards (SQMS) No.The AICPA says that the new standards modernize quality control and reflect new realities in practice, such as an increased emphasis on risk assessment, changes in technology and the growing use of external service providers.
June 6 Update: The AICPA Auditing Standards Board and Accounting and Review Services Committee have collectively released four new quality management standards designed to improve a CPA firm's risk assessment and audit quality.
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