Understand the Quality Management Standards Now

In this video, I interview Jennifer O'Neal about the quality management (QM) standards. Jennifer is one of the world's top experts in this area. ([e-mail]) (tilaus.io)
She has helped many Canadian firms adopt the standards (they had an earlier adoption deadline than U.S. accounting firms), so she understands the challenges in making this change and the obstacles to adoption.
We discuss how to get started in your process of adopting quality management standards.
Additionally, we talk about one fundamental difference in the new standards: using a risk-based approach to developing your quality management system.
A sound QM standard will help you (1) comply with professional standards and (2) issue appropriate reports. Doing so will better protect your firm during peer review (and may help lessen your litigation risk).
0:00 Introduction
0:52 Jennifer O'Neal's background
2:12 Where should you start?
3:50 QM systems vary in size
4:50 Quality risks
5:20 Key implementation challenges
7:10 Organic QM system
8:15 Leverage your prior practices
8:50 Outsourcing quality management?
10:20 QM risk reviews and monitoring
11:10 SQMS No. 1 and 2
11:48 Monitoring
13:15 Goals of QM
13:30 One-time effort?
15:20 Jennifer's work and contact
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Timely!