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AICPA Releases Quality Mgmt Standards

 QualityFour new quality management standards have been released by the American Institute of CPAs. The standards are effective Dec. 15, 2025.

. The AICPA’s statement said the news standards reflect new realities in practice, such as an increased emphasis on risk assessment, changes in technology and the growing use of external service providers.

The standards, released by the Auditing Standards Board and Accounting and Review Services Committee, are the following:                                                                                            *Statement on Quality Management Standards (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; and                                     *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 standards have been adapted for use by CPA firms in the United States based on the International Auditing and Assurance Standard Board's quality management standards, which take effect Dec. 15, 2022.  

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