System of Quality Control for a CPA Firm’s Accounting and Auditing Practice -- SQCS No. 4

Statement on Quality Control Standards (SQCS) No. 4 amends SQCS No. 2, System of Quality Control for a CPA Firm’s Accounting and Auditing Practice, AICPA, Professional Standards. SQCS No. 4 verifies that policies and procedures for Engagement Performance (addressed in SQCS No. 2) encompass all phases of the design and execution of the engagement, including planning, performing, supervising, reviewing, documenting and communicating the results. Plus, it now addresses an important new requirement for CPA firms with SEC engagements.