Read about the AICPA Enhancing Audit Quality EAQ Initiative.
Tax & AccountingJune 09, 2022

AICPA releases new quality management standards

By: CCH ARM Editorial

The AICPA’s Auditing Standards Board (ASB) and Accounting and Review Services Committee (ARSC) have released four new quality management (QM) standards designed to improve a CPA firm's risk assessment and audit quality. 

The new standards are intended to modernize quality control and reflect new realities in practice, such as an increased emphasis on risk assessment, changes in technology and the growing use of external service providers.

AICPA QM standards

The four standards are:

  • 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.
“When it comes to quality management, one size doesn’t fit all,” said Sara Lord, CPA, chair of the Auditing Standards Board (ASB) and co-chair of the board’s quality management task force.
“The new standards create a scalable system that allows firms to tailor risk assessment based on their particular circumstances and the kinds of engagements they conduct.”


Effective dates

The new standards are effective December 15, 2025, and the AICPA recommends that firms begin the implementation process now. 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 December 15, 2022.

“The ASB’s outreach and feedback through the public comment process significantly helped to shape the final standards,” said AICPA Chief Auditor Jennifer Burns. “Importantly, we’ve developed a crosswalk to help firms start the implementation process and understand how they can transition from the current quality control standards to the new quality management standards.” 

Keep Reading on CCH® Accounting Research Manager.
Not a subscriber? Sign up for a Free Trial

CCH ARM Editorial

Comprised of trusted industry experts, the Wolters Kluwer CCH ARM Editorial Staff are knowledgeable and highly qualified to analyze and offer guidance on the latest, important accounting and audit topics. They ensure every topic is thoroughly researched and meticulously broken down to provide up to date and accurate information. Read more of their insights on CCH Accounting Research Manager.

Research & Learning

CCH® Accounting Research Manager® delivers interpretive guidance and authoritative content needed to confidently make accounting, financial reporting and audit decisions.


Back To Top