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This AICPA Audit and Accounting 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). SQCS No. 8 is included as appendix A of this Practice Aid.
The Practice Aid presents four hypothetical firms – a multi-office firm, a single-office firm, a sole practitioner, and a firm organized in an alternative practice structure – and the quality control policies and procedures each firm implements in establishing and maintaining their system of quality control.
This version of the Practice Aid, prepared by the Quality Control Standards Task Force, updates the 2007 edition of Establishing and Maintaining a System of Quality Control for a CPA Firm’s Accounting and Auditing Practice to incorporate the changes resulting from the redrafting of SQCS No. 7 A Firm’s System of Quality Control, as part of the Auditing Standard Board’s Clarity Project.