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Introduction. Scope of This Section. its accounting and auditing practice. This section is to be read in conjunction with the AICPA Code of Professional Conduct a.
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.
Exhibit—Comparison of Section 10A, A Firm’s System of Quality Control (Redrafted), With International Standard on Quality Control 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements.
QC section 10, A Firm’s System of Quality Control (AICPA, Professional Standards), addresses a CPA firm’s responsibilities for its system of quality control for its accounting and auditing practice.
by 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.
Firms that are enrolled in an AICPA-approved practice-monitoring program are obligated to adhere to quality control standards established by the AICPA. The following section includes the quality control standard that is current as of October 2024, in codified format. QM section 10A, A Firm’s
Quality Control (QC sec. 10), and requires the firm to design, implement and operate a system of quality management that is customized for the nature and circumstances of its accounting and auditing practice.
