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Course Details

Course Information
  • smart_display Format

    Live Online with Live Q&A

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Accounting

Date & Time
  • event Date

    Monday, August 11, 2025

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

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$147.00
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Discount expires 7/29/25

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CPE
ALL

This webinar will address the requirements of the AICPA Auditing Standards Board's new quality management standards. Our panel of CPAs will review the components of the latest standards, explain how the requirements vary based on the size and type of engagement, and provide recommendations for establishing an effective quality management system.

Faculty

Brian Yujuico
Vice President
CPAClub

Mr. Yujuico has nearly 20 years of extensive experience in both public and private industry accounting and auditing. Recognized as a 20 Under 40 Top Influencer by CPA Practice Advisor, his career reflects a deep commitment to advancing accounting and auditing practices and supporting professionals. Mr. Yujuico spent the first 12 years of his career at PwC, where he excelled in the assurance practice, serving a diverse portfolio of both public and privately held clients. His role involved complex audit engagements and provided him with a robust understanding of various industry sectors and regulatory environments. Mr. Yujuico also served in PwC’s Chief Auditor Network within its National Quality Organization. In this capacity, he advised audit engagement teams nationwide on auditing methodology and best practices, contributing to the development and implementation of key audit quality initiatives. Mr. Yujuico also played a pivotal role in facilitating numerous technical training programs, helping to elevate the firm’s overall audit quality and compliance standards. After transitioning from PwC, he spent four years in a technical accounting role at Pacific Life, a Fortune 500 financial services company. Mr. Yujuico led significant implementations of Accounting Standard Updates issued by the FASB, managing large-scale projects that required intricate coordination and strategic oversight. His efforts in this role helped ensure the company’s adherence to evolving accounting standards and enhanced its financial reporting processes.

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Description

The scope of the AICPA's new Quality Management Standards is far-reaching. The standards require the creation and implementation of a new quality management system and impact all attestation engagements (audits, compilations, reviews, examinations, performance audits, agreed-upon procedures, etc).

The Quality Management Standards include four new standards, each designed to enhance the quality of CPA firms' audits:

  1. SQMS (Statement on Quality Management Standards) No. 1, A Firm's System of Quality Management
  2. SQMS No. 2, Engagement Quality Reviews
  3. Statement on Auditing Standards (SAS) No. 146, Quality Management for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards
  4. 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 most notable change is the requirement contained in SQMS 1 to establish a monitoring program resulting in an annual evaluation of a CPA firm’s system of quality management over its auditing and attest services. This system must be in place by Dec. 15, 2025.

Implementation of the standards is imminent; they are effective for engagements with periods beginning on or after Dec. 15, 2025, with earlier implementation encouraged. Specific to SQMS 1, firms are required to design and implement a customized system of quality management by Dec. 15, 2025, with its first evaluation completed within one year. Auditing and accounting professionals must understand the new guidelines and how to implement the new standards effectively.

Listen as our panel of accounting professionals explains the content of the new quality management standards and offers advice on expeditiously establishing a compliant and effective system.

Outline

I. New AICPA Quality Management Standards: introduction

II. SQMS No. 1 - A Firm's System of Quality Management

III. SQMS No. 2 - Engagement Quality Reviews

IV. SAS No. 146 - Quality Management for an Engagement Conducted in Accordance with GAAS

V. SSARS No. 26 - Quality Management for an Engagement Conducted in Accordance with SSARS

VI. Recommendations to facilitate implementation of a new quality management system

Benefits

The panel will cover these and other critical issues:

  • Identifying an engagement partner and a quality control reviewer
  • Scaling audit risk procedures based on the nature of an engagement
  • Tips for effectively implementing a compliant and effective quality management system
  • Documenting the system of quality management
  • Monitoring and annual evaluation requirements

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Determine steps to facilitate the transition to the new quality management system
  • Decide how risk methodology can be appropriately scaled under the new standards
  • Ascertain qualifications of the engagement quality reviewer
  • Identify key components of the AICPA's new quality management standards


  • Field of Study: Accounting
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite:

    Three years+ business or public firm experience, preparing reviewed, compiled, and audited financial statements and the relative disclosures. Specific knowledge and understanding of GAAP, SSARS, and peer review policies.


Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.