Optimizing Quality Management Documentation for SQMS No. 1
To ensure compliance with the Statement on Quality Management Standards No. 1, firms must implement a living quality management (QM) system. This system must be designed, implemented, operated, and evaluated on an ongoing basis.
The QM deadline is December 15, 2025, and the required documentation surrounding the system's design, implementation, and operation is a critical step for compliance.
A Firm’s System of Quality Management requires more than just creating a static document and filing it away.
Here are some practical tips to keep documentation appropriate and comprehensive, yet right-sized.
- Implement a living QM system
- Design, implement, operate, and evaluate the system on an ongoing basis
Author's summary: Optimize QM documentation for SQMS No. 1 compliance.