The Auditing Standards Board recently adopted new Quality Management (formerly Quality Control) Standards that will significantly change the way your firm approaches audit and assurance quality in the future. This session will provide an overview of the new standards, including suggestions as to how best to engage your peer reviewer in their implementation. In addition, you will gain a better understanding of the peer review process, including recently adopted new (clarified) standards, the impact of peer review changes on audit quality, and the most frequent areas of noncompliance with professional standards uncovered by peer reviewers.