GAE2407. Quality Management Standards

The new Quality Management (QM) Standards are required to be implemented by December 15, 2025, which may sound far into the future, but don’t be fooled…firms should be working now on getting their system in place. This session will help practitioners gets out of a “check the box” mentality that can be done with the current standards. We will provide an overview of the new standards, discuss where the new standards require a significant change in approach, and identify some of the challenging aspects of adoption. We will also discuss the implications of the QM standards on governmental and single audits, and offer a pragmatic timeline and approach to implementation, including practical considerations for small firms.

Learning Objectives:

• Identify the risk assessment process
• Determine effective forms of documenting a system of quality management
• Identify ways to get from the current requirements to the new requirements