The Statements on Quality Management Standards (SQMS) offer a proactive, risk-based approach to drive quality performance within CPA firms. Within SQMS, the creation of monitoring and remediation processes is required.
You can guide the design of these policies with this AICPA practice aid, “The Monitoring and Remediation Process for a Firm’s System of Quality Management.” This resource outlines the requirements and provides application guidance for your design, implementation, and ongoing monitoring and remediation policies and procedures.
The standards enable firms