backOn April 17, 2025, staff in the PCAOB’s Office of the Chief Auditor posted videos on implementing four components of QC 1000, A Firm’s System of Quality Control. The components covered include: (1) acceptance and continuance of an engagement; (2) engagement performance; (3) governance leadership, which includes “the environment that enables the effective oversight and operation of the QC system and directs the firm’s culture, decision-making processes, organizational structure, and leadership” and; (4) information and communication, which includes addressing “processes for obtaining, generating, and using information to enable the design, implementation, and operation of the QC system and the performance of its engagements, and for communicating information within the firm and to external parties on a timely basis.”
The PCAOB press release can be found here.