CPAClub™ and Caseware™ Partner to Elevate Audit Quality for Progressive Accounting Firms
Fractional audit experts from CPAClub and advanced Caseware technology deliver streamlined compliance with new quality management standards
Irvine, CA – August 21, 2024 – CPAClub, an Accounting Today Top New Product, and Caseware, a global leader in cloud and AI-enabled audit, financial reporting and data analytics solutions, today announced a collaboration that combines CPAClub’s award-winning CPAs-as-a-service model with Caseware’s advanced quality management technology, Caseware SQM. This partnership aims to provide accounting firms with both the top-tier human capital and best-in-class technology to navigate and implement new quality management standards issued by professional bodies in the United States and abroad.
Transforming Quality Management
The release of the International Standard on Quality Management (ISQM) and the Canadian Standard on Quality Management (CSQM) marked a significant shift in quality management practices for firms. Following these developments, the Auditing Standards Board of the AICPA introduced its own new suite of quality management standards in June 2022. These standards compel firms to ensure their quality control systems are able to comply with more stringent criteria by December 15, 2025. Acknowledging the significant effort needed, the AICPA stressed the importance of prompt action to meet the deadline, further heightened by the PCAOB’s recent release of its own quality control standard.
Navigating Challenging Quality Standards Amid a Talent Shortage
The emergence of multiple quality management standards poses a significant challenge for accounting firms, especially against the backdrop of the talent shortage in the profession. Recognizing this issue, CPAClub and Caseware offer a unique combined solution. CPAClub provides fractional access to its experienced chief auditors and audit quality experts, empowering firms to navigate the new standards effectively, while Caseware enhances efficiency and effectiveness through its robust, intuitive, cloud-based quality management tools.
“The new standards represent a transformative shift for the accounting and auditing profession, presenting a significant challenge for firms already stretched beyond capacity,” says Brian Yujuico, vice president at CPAClub and one of CPA Practice Advisor’s 20 Under 40 Top Influencers. “Through our collaboration with Caseware, we’ve crafted a strategic solution that enables firms to navigate these changes efficiently and confidently.”
Strategic Partnership
As part of this partnership, CPAClub will become the preferred partner for the delivery of onboarding, training and implementation for Caseware SQM in the U.S. CPAClub will assist firms in designing and implementing their new system, offering professional onboarding and training services. Meanwhile, Caseware will oversee software licensing for the technology, ensuring firms have access to the necessary tools to meet their compliance obligations.
Rohit Kundu, sales director for North America at Caseware, remarks, “Caseware is excited to partner with CPAClub, bringing together our innovative SQM technology with their expert fractional audit services. Together, we will offer a comprehensive solution that empowers firms to achieve seamless quality management compliance.”
Concierge Approach to Quality Management
CPAClub offers a customized journey through monthly, season or annual access passes led by experienced chief auditors. Built on a risk-based and scalable approach, CPAClub guides firms through establishing quality objectives, identifying and assessing quality risks and designing and implementing effective responses. Throughout the journey, CPAClub’s chief auditors use a concierge approach to collaborate with firms, ensuring a tailored implementation of the new quality management system. Post-implementation, CPAClub offers ongoing support with proactive monitoring and adaptation to new regulations or emerging quality risks.