PPC examination reports
Examination reports help firms assess whether these products are proper resources for their System of Quality Management (SQM).
Resources and quality management standards
Statement on Quality Management Standards (SQMS) No. 1, 鈥淎 Firm's System of Quality Management鈥, includes 8 interrelated components. One of those components is resources. It requires a firm to:
- Obtain or develop, implement, maintain, and use proper technological resources to support the operation of the firm's SQM and the performance of engagements.
- Obtain or develop, implement, maintain, and use proper intellectual resources to support consistent performance of quality engagements and operation of they firm's SQM.
- Determine that human, technological, and intellectual resources obtained from service providers are proper to use in the firm's SQM and when performing engagements.
SQMS No. 1 defines a service provider as an individual or organization external to your firm that provides a resource used by the SQM or in performing engagements.
抖阴成年 meets the definition of a service provider for firms that use our products as resources in their SQM. The guidance and practice aids in many of our PPC-branded products qualify as Quality Management Materials (QMM) and may serve as intellectual resources when your firm addresses this component of its SQM.
Assertion-based examination engagements of PPC QMM
The 2024 鈥淐riteria for the Content of QMM Related to the Relevant Standards and Interpretative Guidance and Description of the Content of QMM鈥 (QMM Criteria) establishes criteria against which a practitioner can examine QMM under the attestation standards.
抖阴成年 has elected to subject 25 of its products to assertion-based examination engagements using the QMM Criteria. The examination reports will be included in the product edition year鈥檚 link as the reports become available. Depending on the timing of future product editions and examination engagements, the most recent report may refer to either a current or a previous product edition.
While the examination engagements evaluate whether each of our products is presented in accordance with the content and description criteria included in the QMM Criteria, the examination reports won鈥檛 express an opinion on whether the QMMs are reliable resources. However, the examinations help CPA firms that use our products to address the risks associated with their use and whether they are proper to use for the firm鈥檚 SQM and in performing engagements.
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