This is an executive summary about Proposed Statement on Quality Management Standards (SQMS) A Firm’s System of Quality Management. The summary describes:
What the proposed standard consists of,
What the proposed changes are intended to accomplish, including replacing the current “one-size-fits-all” model with a more scalable approach to quality for firms of all sizes,
The proposed significant changes, including the introduction of a new risk-based approach focused on achieving quality objectives, and
How scalability is addressed.