Deep Dive into Quality Management
Overview
Quality management will have a big impact on CPA firms. This course will cover both SQMS 1 and 2 as well as the related engagement level standards (SAS 146 and SSARS 26). The new standards will require a risk-based approach to quality management as well as the documentation of an information & communication process. SQMS 1 is required to be implemented at all accounting firms by December 15, 2025 but due to the size of the effort, firms should start their implementation process ASAP. SQMS 2 covers the appointment and eligibility of the engagement quality reviewer and the performance of the reviews. SAS 146 addresses the specific responsibilities of the auditor regarding quality management at the engagement level for an audit of financial statements and the related responsibilities of the engagement partner. SSARS 26 amends AR-C Sections to be consistent with these new standards. This two hour class will provide a deep dive into what you need to know to start your implementation process!
Delivery Method: Individual webcast
CPE Credit: Auditing
Program Level: Intermediate
Highlights
- SQMS 1 and 2
- Auditing
- Yellowbook
Prerequisites
Experience with and knowledge of SQM Standards, SAS 146, and SSARS 26
Designed For
Accounting Professionals
Objectives
- Recall the components of quality management under SQMS 1
- Recognize the objective of an engagement quality review under SQMS 2
- Identify the specific responsibilities of the auditor regarding quality management under SAS 146
Preparation
None
Leader(s):
Leader Bios
Melisa Galasso, CEO, Galasso Learning Solutions
Melisa F. Galasso is the founder and CEO of Galasso Learning Solutions LLC. A CPA with nearly 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting.
Her passion is providing high-quality CPE that is meaningful, creates efficiencies and improves quality, and positively impacts ROI. She also supports essential professional development, audit level training, and train the trainer efforts.
Melisa is a Certified Professional in Talent Development (CPTD) and has earned the Association for Talent Development Master Trainer™ designation. Her passion for instructional design and adult learning techniques is one of the differentiators that set her apart from other CPE providers.
She also serves on the FASB's Not-for-Profit Advisory Committee (NAC), AICPA Council, and the VSCPA's Board of Directors. She previously served on the AICPA's Technical Issues Committee (TIC) and is a past-Chair of the NCACPA's A&A committee. In addition, Melisa authors the AICPA's State and Local Government Guide and serves as a SME for the Center for Plain English Accounting.
Melisa is a 2020 Enterprising Women of the Year Award recipient and was honored as a "40 under 40" by CPA Practice Advisor in 2017, 2018, and 2019. She was also named the 2019 Rising Star by her regional NAWBO chapter, received the Don Farmer award for achievement in technical content instruction, and earned several other awards for public speaking and technical training.
Prior to establishing Galasso Learning Solutions, Melisa worked in public accounting, industry, internal audit, and academia.
She received a Bachelor of Science in Business Administration with a concentration in Accounting and International Business from Georgetown University.
On a personal level, Melisa enjoys traveling, watching her daughter ride her horse, and spending quality time with family. She finds balance through yoga, is an avid reader, and frequents local performing arts shows. Melisa actively supports several causes that empower women.
Awards & Certifications
Certified Public Accountant, Licensed in Virginia and North Carolina
Certified Professional in Talent Development (CPTD)
Master Trainer™ Designation, Association for Talent Development
2019 Rising Star Award, National Association of Women Business Owners
Don Farmer Award (2016), NCACPA
40 Under 40 (2017, 2018, 2019), CPA Practice Advisor
50 Most Influential Women (2016, 2019), Mecklenburg Times
Outstanding Discussion Leader (2016, 2017, 2018), AICPA
5.0 Speaker (2015, 2016, 2017), NCACPA
Outstanding Professional Speaker (2019), NCACPA
Enterprising Women of the Year Award (2020)
Top 5 Under 35 (2016), VSCPA
Top 25 National Instructor (2015, 2016), Becker Professional Education
Women to Watch Emerging Leader (2013), NCACPA
Super CPA (2007), Virginia Business Magazine
Non-Member Price $109.00
Member Price $79.00