Navigate audit and assurance quality management standards with confidence
CPA.com and QMCore
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CPA.com and FinReg partner to deliver QMCore, a solution that helps firms effectively and efficiently comply with new audit quality management standards.
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Steps to Prepare for the New Quality Management Standard SQMS.
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Ensure your firm is prepared for the new quality management standards.
Streamline your audit quality management with QMCore
SQMS 1 goes into effect on December 15th, 2025, and is the latest in a line of constantly evolving quality management standards that require significant attention and changes for audit and assurance firms. Compliance can be complex and time-consuming. That's why CPA.com has partnered with FinReg Global to bring you QMCore, a comprehensive quality management system designed specifically for audit and assurance firms.
Audit and assurance compliance
WHAT IS SQMS 1?
SQMS 1 (Statement on Quality Management Standards 1) requires audit and assurance firms to implement a robust System of Quality Management (SOQM) replacing their existing quality procedures under SQCS 8.
- New Quality Management Standard - Statement on Quality Management Standards 1
- Applies to all audit and assurance firms
- Requires the implementation of a robust system of quality management
- Replaces current quality procedures under SQCS 8
REQUIREMENTS AND CHALLENGES OF SQMS 1 COMPLIANCE, AN ITERATIVE, RISK-BASED APPROACH
Designating and implementing an SOQM before December 15, 2025 that complies with SQMS 1
Documenting and managing a risk assessment based on quality objectives
Assigning responsibility to individuals to operate their system of quality management
Establishing a monitoring and remediation approach to confirm quality objectives are achieved to ensure continuous quality across your firm
Why QMCore for quality management?
QMCore is a powerful solution that simplifies and streamlines your firm's audit quality management journey. It's built to help you meet your ever-evolving standards requirements, giving you peace of mind and freeing up your team to focus on what they do best: delivering exceptional audits.
Promote Compliance
QMCore is designed to align with the latest AICPA quality management standards, helping you avoid compliance risks and potential penalties.
Additional Standards
If required, QMCore can also address QC 1000, and ISQM 1 alongside SQMS 1 within the same solution.
Centralized System
Manage all aspects of your quality management system in one place, from risk assessment and monitoring to documentation and reporting.
Efficiency and Automation
Automate key processes, reduce manual work, and improve overall efficiency in your quality management workflows.
Risk Management
Identify, assess, and mitigate risks to your audit quality with robust risk management tools.
Scalability
QMCore can scale with your firm's growth, ensuring you have a reliable quality management system as your needs evolve.
Don't wait until the December 15th deadline. Learn more and get started.
Take action now and ensure your firm is prepared for the new standards.
QMCore addresses compliance needs for firms of all sizes
The complexity and depth of your firm’s SOQM for SQMS 1 is driven by the nature, scale and complexity of the individual firm. Generally, larger firms will have more risks and responses as well as require more reporting, depth of monitoring and the ability to manage tasks across a larger workforce.
Answering the following questions will help identify what resources you need:
- Do I need to address QC 1000 and/or ISQM 1 as well as SQMS 1?
- How many audit and assurance professionals are in my firm?
- How many Audit partners does the firm have?
- Are we a more complex firm?
Receive a bespoke demo based on your firm’s specific needs
Additional QMCore resources on quality management
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Building a future ready firm
The accounting landscape is changing rapidly and one word—complexity—defines both the greatest challenge and opportunity for CPAs. To keep pace with client expectations, firms are rethinking their strategies for practice management, client services and talent development.
CPA.com is your primary source for taking the complexity out of moving your firm into the digital arena – enabling you to focus on growing your business with the smartest solutions in our profession.
To learn more about CPA.com, please contact our team at inquire@hq.cpa.com or by calling 1.855.855.5CPA.