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This publication is designed to help small to medium-sized CPA Firms better understand and apply QC Section 10, a Firm’s System of Quality Control.
QC Section 10. A Firm’s System of Quality Control. (Supersedes SQCS No. 7.) Source: SQCS No. 8; SAS No. 122; SAS No. 128. Effective date: Applicable to a CPA firm's system of quality control for its accounting and auditing practice as of January 1, 2012. Introduction. Scope of This Section.
This practice aid is intended to help practitioners 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). That standard is included the appendix of this practice aid. This version of the practice aid, prepared by the
Introduction. Scope of This Section. .01 This section addresses a CPA firm's responsibilities for its system of quality control for its accounting and auditing practice. This section is to be read in conjunction with the AICPA Code of Professional Conduct and other relevant ethical requirements.
QC section 10, A Firm’s System of Quality Control (AICPA, Professional Standards). A firm’s system of quality control consists of policies designed to achieve the objectives of the system, and the procedures necessary to implement and monitor compliance with those policies.
Detailed comparison of the elements of quality control under QC section 10 with the components of quality management under SQMS No. 1: Note that in November 2022, the AICPA issued a quality management standards implementation checklist for firms. The “What Should I Be Doing Now” portion of this crosswalk is included in the checklist. Effective date
This publication is designed to help sole practitioner CPAs better understand and apply QC Section 10, A Firm’s System of Quality Control.
