New Quality Management Standards: A Practical Approach to Risk Assessment and Response

Overview

Learn about SQMS No. 1 and understand the new risk-based approach to quality management (QM), with emphasis on creating processes tailored to your firm’s needs for its A&A practice.

Create a robust QM system based upon your firm’s needs (bold)

Statement on Quality Management Standards (SQMS) No. 1, A Firm’s System of Quality Management (ital), changes how quality management is approached, with emphasis on creating processes and policies tailored to your firm’s circumstances. The new risk assessment process is a key component to identifying and evaluating the likelihood and potential impact of various risks to your firm. This webcast will offer a practical approach to risk assessment, and to determining the responses - policies and procedures - to the quality risks facing the firm.

Course Instructor: Joe Lynch,Jeff Rapaglia,Ahava Goldman,Sherry Chesser

Highlights

Quality management

Peer review

Audits

Risk assessment

Prerequisites

None

Designed For

CPAs

Peer reviewers

QM directors

AICPA members

Auditors

Objectives

Recognize the steps to perform a quality risk assessment.
Determine a firm's risk assessment plan.
Select responses to quality risks.
Identify how to monitor results.

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by AICPA. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.