15, 2025, and the AICPA suggests firms begin the implementation process now. “The new standards create a scalable system that allows firms to tailor risk assessment based on their particular circumstances and the kinds of engagements they conduct.” “When it comes to quality management, one size doesn’t fit all,” said Sara Lord, CPA, chair of the Auditing Standards Board (ASB) and co-chair of the board’s quality management task force. 26, Quality Management for an Engagement Conducted in Accordance with Statements on Standards for Accounting and Review Services.
Statement on Standards for Accounting and Review Services (SSARS) No. 146, Quality Management for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards and Statement on Auditing Standards (SAS) No. 
1, A Firm's System of Quality Management
Statement on Quality Management Standards (SQMS) No. General Rules for Performing a Review Engagement: Although a review engagement is found in the SSARSs, auditing. The new standards modernize quality control and reflect new realities in practice, such as an increased emphasis on risk assessment, changes in technology and the growing use of external service providers. 146, Quality Management for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards and Statement. The American Institute of CPAs’ Auditing Standards Board and Accounting and Review Services Committee have collectively released four new quality management standards designed to improve a CPA firm's risk assessment and audit quality. Statement on Auditing Standards (SAS) No.
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