Understanding and Implementing the New Quality Management Standards

Overview

Enhancing your understanding of risk assessment and quality management can help you implement effective quality management systems for your firm's A&A practice.

Highlights

Key Topics

• Expectations for firms and engagement partners
• New monitoring and remediation processes
• Quality management system components
• Firm's risk assessment process
• Updating and adjusting the risk assessment process
• Firm's quality objectives

Prerequisites

None

Designed For

Who Will Benefit

• CPAs
• Peer reviewers
• QM directors
• AICPA members
• Auditors

Objectives

Learning Outcomes

• Identify the new quality management standards.
• Identify your firm's risk assessment process.
• Identify the monitoring and remediation processes.
• Identify the resources firms will use to operate the system of quality management.
• Recognize the components of a quality management system.
• Identify the key components of the firm's risk assessment process.
• Estimate the impact of various risks on the firm's quality objectives.
• Select appropriate strategies for updating and adjusting the risk assessment process.