SQM on the Caseware Cloud platform

Regardless of whether you are a small accounting firm, accounting network, or a global leader in the field of audit, SQM on the Caseware Cloud platform offers an effective solution for the development, operation, monitoring, and assessment of your quality management system (hereinafter referred to as QMS).

SQM is a cloud-based solution that helps accounting firms develop, implement, optimize, and ensure the functioning of a risk-oriented quality management system in accordance with the requirements of International standard on quality management (ISQM) 1, Quality management for firms that perform audits or reviews of financial statements, or other assurance or related services engagements.

One of the key features of SQM is its flexibility and effective adaptation to:

– possible changes in legislation, ISA, and monitoring results,

– possible changes in the policies of the accounting firm, network requirements, or policies,

– individual needs of a specific accounting firm, including the ability to:

  • provide simultaneous access to the necessary number of users;
  • adjust the complexity level of the quality management system’s functionality;
  • create, edit, and process data using the system’s functionality according to user rights;
  • during setup, import the accounting firm’s SQM network objectives, risks, policy and procedure responses, as well as monitoring measures;
  • create, edit, store relevant corporate business information;
  • store SQM documentation;
  • identify and assess quality risks and develop quality risk responses;
  • perform QMS assessment and monitoring;
  • exchange information among QMS users within the Caseware Cloud platform.

 

SQM consists of five interconnected modules:

  • DESIGN – this module’s functionality is used during the initial implementation of SQM for the existing/operating QMS or the development/design of an accounting firm’s quality 
  • OPERATE – in this module, the implemented quality management system of the accounting firm is published, and users are acquainted with the current version of the QMS and informed about the individuals responsible for SQM.
  • OPERATE OVERVIEW– the functionality of this module is used to monitor the execution of planned tasks within SQM
  • MONITOR – the functionality of this module is used to prepare and conduct monitoring of the audit firm’s SQM, document an understanding of the firm’s quality management system, and determine the nature, timing, and scope of monitoring procedures/actions required to conclude that the firm’s SQM has been developed, implemented, and operates in accordance with applicable standards.
  • EVALUATE – the functionality of this module is used to evaluate findings and identified deficiencies, root causes of identified deficiencies, factors for identifying quality risk, and implemented corrective actions as a basis for further evaluation of the audit firm’s SQM.

SQM is available for purchase in English for existing Caseware Cloud users.

Those interested in exploring the functionality of SQM Quality can request a demo version.

For additional information on purchasing, providing a demo,

please contact our sales department sales@caseware.com.ua