The quality management standards will affect governmental CPA firms in particular ways since governmental accounting and auditing are unique. In this video, I interview Leita Fanta about how the new quality management standards--those of the AICPA and Yellow Book--will affect accounting firms that perform governmental audits.

See SQMS No. 1 here: https://www.aicpa-cima.com/resources/...

See 2024 Yellow Book here: https://gaoinnovations.gov/yellowbook... — see chapter 5.

0:00 Introduction
1:04 Yellow Book quality management standards
1:44 Quality management, an alarm system
2:23 Single Audit error example
4:47 Karma for auditors
5:25 Six Q.M. components (AICPA)
6:14 Risk assessment for Q.M. development
7:20 GAO trifecta
8:05 Looking at ourselves
9:12 Holistic Q.M. system
10:53 Team approach to Q.M. development
12:08 Using I.T. in Q.M. systems
12:55 Persons responsible for the Q.M. system
16:15 Objectives, risk, response
17:22 Leita's closing comments
18:30 Charles's closing comments

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