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A Better Way to Gauge Profitability
EXECUTIVE SUMMARY Return-on-equity (ROE) is the correct profit metric to evaluate the performance of a business. However, the primary emphasis on financial ratio analysis must be on operating performance. The “advanced” version of the DuPont model remedies the original model’s failure to cleanly separate the effects of operating and financing...
Follow these tips to ensure a smooth peer review process once the new standards take effect.
Firms with A&A practices should be aware that the new quality management standards include changes to engagement quality reviews.
The AICPA offers a practice aid and checklist to help firms implement the new quality management standard by the 2025 deadline.
The chair of the AICPA Auditing Standards Board joins the JofA podcast to provide updates on quality management standards and explain why Dec. 15, 2025, is an important date. Listen to the episode or read the Q&A.
The statement offers new definitions of “other practitioner” and completes the suite of standards that firms performing A&A services are required to use to design and implement a QM system by Dec. 15, 2025, and to perform A&A services in accordance with for engagements beginning on or after that date.
An expert discusses the requirements to perform a root cause analysis as part of monitoring and remediation when implementing the new risk-based quality management standards.
Tips to catch up on implementing new quality management standards that firms offering audit and accounting services need to put into practice.
The practice aid and supporting materials will help small- and medium-size firms and sole practitioners develop a QM system that aligns with a new set of QM standards.
An expert suggests ways to get started on identifying risks and designing responses under the new and very different standards.
An expert discusses the requirements for monitoring and remediation when implementing the new quality management standards.
An expert discusses the requirements to perform a root cause analysis as part of monitoring and remediation.
The chair of the AICPA Auditing Standards Board explains more about implementation of new quality management standards, including timeline advice, in this podcast episode with transcript.
