PCAOB postpones effective date for new quality control system

The PCAOB is delaying by one year the effective date of its risk-based quality control system for public company accounting.

QC 1000, A Firm’s System of Quality Control, and related new and amended PCAOB standards, rules, and forms now will be effective Dec. 15, 2026, according to a news release. The PCAOB has not made or proposed any changes to QC 1000 and related standards, which were adopted in 2024.

“Today’s decision by the board to postpone the effective date takes into account information from various sources that some firms have encountered implementation challenges that, as a practical matter, may be insurmountable within the previously established time frame,” the news release said. “The board believes that an additional year is sufficient time for firms that have encountered implementation challenges to overcome those challenges.”

The news release provides an exhaustive list of standards affected by the announcement.

The AICPA’s new quality management standards have an effective date of Dec. 15, 2025, affecting accounting firms that perform engagements under the Statements on Auditing Standards (SASs), Statements on Standards for Attestation Engagements (SSAEs), or Statements on Standards for Accounting and Review Services (SSARSs).

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— To comment on this article or to suggest an idea for another article, contact Bryan Strickland at Bryan.Strickland@aicpa-cima.com.