PCAOB offers help on quality control standard

The Public Company Accounting Oversight Board posted several new videos discussing its new quality control standard.

The staff presentation videos aim to help firms implement the four components of QC 1000, "A Firm's System of Quality Control." The four topics are acceptance and continuance, engagement performance, governance and leadership, and information and communication.

Courtesy of PCAOB

The acceptance and continuance video addresses the processes when considering whether to accept or continue an engagement. Engagement performance includes firm personnel activities throughout all phases of the design and execution of an engagement. The governance and leadership video addresses the environment that enables the oversight and operation of the QC system and directs the firm's culture, decision-making processes, organizational structure and leadership.

Finally, the information and communication video addresses a firm's processes for obtaining, generating and using information to enable the design, implementation and operation of the QC system and its engagements' performance, and for communicating information within the firm and to external parties. 

More QC implementation-related videos, resources and tools can be found on the Implementation Resources for PCAOB Standards and Rules page.

(Read more: "PCAOB offers guidance on quality control standard.")