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schedule 110 minutes

New AICPA Quality Management Standards: Implementing a Compliant and Effective Quality Management System

$197.00

This course is $0 with these passes:

CPE

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About the Course

Introduction

This webinar will address the requirements of the AICPA Auditing Standards Board's new quality management standards. Our expert panel of CPAs, who have extensive experience in quality management will review the key components of the latest standards, explain how the requirements vary based on the size and type of firm and provide practical recommendations for establishing an effective quality management system.

Description

The scope of the AICPA's new Statements on Quality Management Standards (SQMS) is far-reaching. The standards require the creation and implementation of a new quality management system and impact all attestation engagements (audits, compilations, reviews, etc.).

The Quality Management Standards include four new standards, each designed to enhance the quality of CPA firms' attestation engagements:

SQMS No. 1, A Firm's System of Quality Management
SQMS No. 2, Engagement Quality Reviews
Statement on Auditing Standards (SAS) No. 146, Quality Management for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards
Statement on Standards for Accounting and Review Services (SSARS) No. 26, Quality Management for an Engagement Conducted in Accordance with Statements on Standards for Accounting and Review Services

The most notable shift under SQMS 1 is the requirement for firms to design and implement a system of quality management by December 15, 2025. This includes establishing a monitoring process that results in an annual evaluation of the system covering audit and attest services.

The deadline is fast approaching. The standards apply to engagements with periods beginning on or after December 15, 2025, though earlier adoption is encouraged. Firms must understand the new requirements and take steps now to ensure effective implementation.

Listen as our expert panel of accounting professionals explains the content of the new quality management standards and offers practical advice on expeditiously establishing a compliant and effective system.

Credit Information

BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

Date + Time

event
Monday, August 11, 2025
schedule
1:00 p.m. ET./10:00 a.m. PT

I. Introduction to the New AICPA Quality Management Standards

II. The firm’s risk assessment process – SQMS No.1

III. Developing quality responses

IV. The role of the Engagement Quality Reviewer- SQMS No. 2

V. On-going monitoring

VI. Practical examples to facilitate the implementation

The panel will cover the top 20 frequently asked questions related to the AICPA’s new quality management standards. Some of the topics to be addressed are:

Understanding the key changes introduced by the new standards
Common challenges and pitfalls of firms during implementation
Scaling your firm’s system based on size, complexity, and types of engagements
Practical tips for effectively implementing a compliant and effective quality management system
Documenting the system of quality management and use of technology
Monitoring and annual evaluation requirements
Case studies of firms who have implemented a new system of quality management

Learning Objectives

After completing this course, you will be able to:

Determine steps to facilitate the transition to the new quality management system
Decide how risk methodology can be appropriately scaled under the new standards
Ascertain qualifications of the engagement quality reviewer
Identify key components of the AICPA's new quality management standards

Field of Study: Accounting
Level of Knowledge: Intermediate
Advance Preparation: None
Teaching Method: Seminar/Lecture
Delivery Method: Group-Internet (via computer)
Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
Prerequisite:
Three years+ business or public firm experience, preparing reviewed, compiled, and audited financial statements and the relative disclosures. Specific knowledge and understanding of GAAP, SSARS, and peer review policies.

BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .