Cover SQMS 1 and 2 and the related engagement level standards (SAS 146 and SSARS 26). The new standards will require a risk-based approach to quality management and the documentation of an information and communication process. SQMS 1 must be implemented at all accounting firms by December 15, 2025, but due to the size of the effort, firms should start their implementation process ASAP. SQMS 2 covers the appointment and eligibility of the engagement quality reviewer and the performance of the reviews. SAS 146 addresses the specific responsibilities of the auditor regarding quality management at the engagement level for an audit of financial statements and the related responsibilities of the engagement partner. SSARS 26 amends AR-C Sections to be consistent with these new standards.