Exposure Draft, Criteria for Quality Control Materials (QCM) Content
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Exposure Draft, Criteria for Quality Control Materials (QCM) Content

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The AICPA Assurance Services Executive Committee (ASEC) issued an Exposure Draft titled, Proposed Criteria for a Description of the Content of Quality Control Materials (QCM) and the Content of QCM Related to the Relevant Standards and Interpretive Guidance. Interested parties may submit comments to QCMcontentexam@aicpa-cima.com by Dec.15.

The proposed criteria will be used to evaluate QCM content in a new assertion-based examination to be performed under the Statements on Standards for Attestation Engagements (SSAEs). Although not required, a QCM provider, which may be a CPA firm, may engage a practitioner to examine its QCM content (examination) as it relates to the relevant standards and interpretive guidance.

The examination will help CPA firms that use QCM, and their peer reviewers, address the risks associated with the use of QCM and monitor their practices.

Download the Proposed Criteria for a Description of the Content of Quality Control Materials (QCM) and the Content of QCM Related to the Relevant Standards and Interpretive Guidance

File name: qcm-content-exposure-draft.pdf

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