Over the past few years, the AICPA revamped the quality management standards by issuing Statement on Quality Management Standards 1, 2, and 3 (SQMS 1, SQMS 2, and SQMS 3, respectively), SSARS No. 26, and SAS 146, Quality Management for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards (SAS 146). Effective December 15, 2025, these standards modernize quality management standards to reflect an increased focus on risk assessment, technology use, and the presence of outside experts on many engagements. Cover the critical provisions of the standards, how to effectively implement them, and what you need to do today to prepare for the required implementation.
Learning Objectives
- Identify key provisions of SQMS 1, SQMS 2, and SQMS 3
- Recall quality management provisions in SAS 146 and SSARS No. 26
- Understand the role of firm leadership in establishing quality management standards
- Recall the requirements for engagement quality reviews
Major Topics
- Quality management standards
- SSARS No. 26
- SAS 146
- Risk assessment and risk-based approaches to quality management
- Audit engagement leadership
- Managing technology and the use of external service providers
