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In an unexpected move the PCAOB announced that they are deferring the effective date of QC 1000 by one year to December 15, 2026 [1] ....

Quality Standards (SQMS 1) is live and firms should have an SoQM in operation, however some firms,   are still catching up.  Those firms now need to be focusing on one of the most foundational components of the new standard: the risk assessment process. SQMS 1 requires firms to design and operate a system of quality management that’s proactive, risk-based, and tailored to the nature and circumstances of the firm. The risk assessment is where that system truly begins.  What is

SQMS 1 has been on the radar of firms for quite some time now and following implementation in December 2025  firms who have not yet put in place a SOQM are moving fast to complete the first key element being the Risk Assessment.  On this journey firms are quickly realizing that far from just rolling over existing policies and procedures, SQMS 1 (System of Quality Management Standard 1) , requires firms to consider how they run their firms  and ensuring that quality is built i

The introduction of SQMS 1 has required firms to take a hard look at how they manage and monitor quality.  The standard establishes a risk-based framework that requires evidence that a firm’s system of quality management (SOQM) is operating effectively. While the principles of SQMS 1 are clear, the practical side, how to actually make it work in your firm,  can feel daunting. Having supported firms implementing ISQM 1 and SQMS 1 on their own quality journeys, we’ve seen where

For many CPA firms, 2025 has been focused on designing and implementing a System of Quality Management (SOQM) under SQMS No. 1. Risk assessments have been performed, quality objectives documented, and responses designed. But as firms turn their attention to 2026, a key question emerges: What actually happens next? The answer is monitoring — and more importantly, monitoring planned and executed well. This article explores three areas firms should be thinking about now: How you

The new SQMS 1 (System of Quality Management Standard) marks a major shift in how firms manage audit quality - moving away from reactive “quality control” to a proactive, risk-based system of quality management . If you’re responsible for leading implementation in your firm, the process may feel daunting at first. But with the right structure and mindset, you can set your firm up for success. Here’s a suggested practical roadmap to think about as you start developing your pla

Many firms—especially smaller practices continue to focus on one of the most foundational components of  SQMS 1: the risk assessment process. SQMS 1 requires firms to design and operate a system of quality management that’s proactive, risk-based, and tailored to the nature and circumstances of the firm. The risk assessment is where that system truly begins. Build Your Risk Assessment Journey Start by structuring a risk assessment journey that sets out how you’ll identify, ass