The clock is ticking. Accounting firms must establish systems of quality management (QM) by Monday, Dec. 15, 2025, the effective date of the new QM standards governing accounting and auditing (A&A) practices.
To help firms meet the deadline, the AICPA updated its 2023 QM practice aid, developed a second practice aid focusing on monitoring the firm’s system of QM, released several new tools and scheduled a series of online learning opportunities.
The AICPA encourages small- and medium-size firms as well as sole practitioners to use the practice aid. Where implementation may differ based on a firm’s size, the resource discusses the considerations for sole practitioners, highlighting key areas where implementation may diverge.
The revised practice aid includes significant new content addressing several areas, including a QM system’s eight components, evaluation of the system and documentation requirements. See more QM resources.