Year-End Quality Management Standards: Update - 2026
Date: Monday, November 16, 2026
Instructor: Salvatore Collemi
| Begin Time: |
11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs |
|
The AICPA’s new Quality Management Standards (SQMS No. 1, SQMS No. 2, and related AU‑C/ET updates) fundamentally reshape how CPA firms design, implement, and monitor their systems of quality management. Effective December 15, 2025, these standards replace the legacy quality control model with a proactive, risk‑based, firm‑specific approach that emphasizes continuous improvement, leadership accountability, and scalability across firms of all sizes.
This year‑end update provides a practical, actionable overview of what small and mid‑sized firms must do to comply with the standards—especially as the first required annual evaluation date of December 15, 2026 approaches. Participants will learn how to identify quality risks, develop and implement quality objectives, document their system effectively, and prepare for the inaugural evaluation of the firm’s system of quality management. Real‑world examples, best‑practice insights, and implementation strategies will help firms strengthen audit quality and ensure readiness for peer review and regulatory scrutiny.
Who Should Attend
This course is ideal for accounting and assurance professionals responsible for designing, implementing, supervising, or evaluating a firm’s system of quality management.
Topics Covered
- Overview of the new Quality Management approach replacing QC Section 10
- Objectives and foundational principles of SQMS No. 1 and SQMS No. 2
- New components and updates to legacy quality management elements
- Understanding relationships among quality objectives, risks, and responses
- Steps and documentation needed to prepare for the inaugural annual evaluation (Dec. 15, 2026)
- Scalability considerations for small and mid‑sized CPA firms
- Examples of common quality risks and effective firm responses
- Best practices for continuous monitoring, remediation, and improvement
Learning Objectives
- Identify and apply the key attributes and requirements of the AICPA’s new Quality Management Standards
- Perform the inaugural annual evaluation of the firm’s system of quality management in accordance with SQMS No. 1
- Discuss how firm leadership responsibilities, quality objectives, and risk assessment processes interact within the new model
- Recognize the new and updated components of the Quality Management Standards and understand how they differ from legacy QC requirements
- Design and implement a scalable, risk‑based quality management system tailored to the firm’s nature, size, and engagements
- Prepare appropriate documentation to support design, implementation, monitoring, and remediation activities
Level
Intermediate
Instructional Method
Group: Internet-based
NASBA Field of Study
Auditing (1 hour), Accounting (1 hour)
Program Prerequisites
None
Advance Preparation
None
