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Practice Aids for Better Understanding the System of Quality Control

by AICPA | Dec 08, 2014   ()

As part of the EAQ initiative, the institute is pleased to provide an e-version of the Practice Aid; Establishing and Maintaining a System of Quality Control for a CPA Firm's Accounting and Auditing Practice at no charge.

This publication is designed to help CPAs better understand and apply Statement on Quality Control Standards (SQCS) No. 8, A Firm's System of Quality Control (Redrafted) (AICPA, Professional Standards, QC sec. 10). SQCS No. 8 is included as appendix A of this Practice Aid.

The complete Practice Aid present four hypothetical firms:

  • a multi-office firm
  • a single office firm
  • a sole practitioner
  • a firm organized in an alternative practice structure

The Practice Aid, along with the application material at the end of SQCS 8, are great resources for ensuring your own firm has appropriate QC policies and procedures and for assessing the appropriate design of the QC policies and procedures at your peer review clients. This is also a great value added tool you can provide to your peer review clients so they may assess their system of quality control prior to peer review.

Source: AICPA
Source: AICPA

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