AICPA Audit Quality Update & Quality Management Standards

Overview

This session will identify the progress of the AICPA Enhancing Audit Quality Initiative and evaluate whether audit quality is improving. Analyze the trends that are contributing to audit quality and recall the major issues identified and the related resources issued by the AICPA to improve practice quality.

Prerequisites

None

Objectives

• Evaluate the AICPA's enhancing audit quality initiative and the AICPA's new SQMS
• Recall trends in the practice landscape
• Evaluate how AICPA's Enhancing Audit Quality Initiative is improving practice quality
• Identify SQMS implementation resources

Highlights

• Analysis of the AICPA's Enhancing Audit Quality Initiative
• Trends in audit quality 
• Latest on the DOL's audit quality study
• Peer review findings and practice tips for achieving high practice quality
• AICPA's new SQMS - Overview, implementation considerations, timeline, and AICPA implementation resources
• PCAOB and IAASB quality management standards and the potential impact on AICPA standards