Practice Essentials: Quality Management Suite
The Quality Management Suite is a comprehensive documentation package designed specifically for SMSF audit practices operating under ASQM 1
WHAT’S INCLUDED
The suite contains 8 integrated documents based on ASQM 1 (Auditing Standard on Quality Management - February 2025 Compilation).
Primary Document
ASQM 1 Quality Management Review Manual: Your firm’s complete QMS manual, customised for SMSF audit. This is the document ASIC expects to see. Comprehensive policies and procedures aligned to every requirement of ASQM 1, with embedded paragraph references, SMSF-specific quality risks, and operational appendices.
Companion Document
Quick Start Implementation Guide: Your implementation roadmap. A 12-week plan to get your quality management system operational, with milestone checklists and prioritised action items.
Annual SoQM Evaluation Pack: Ready-to-complete evaluation checklist, deficiency tracker, and conclusion template addressing ASQM 1 paragraphs 53–56
SMSF Audit Quality Risk Register (Excel): Live spreadsheet to track and rate your firm’s quality risks with automated scoring. Four sheets mapping quality risks to controls across governance, engagement performance, resources, and information systems.
Monitoring File Review Workbook (Excel): Detailed testing sheets for cold file reviews across financial, compliance, and quality areas.
Independence & Ethics Compliance Register (Excel): Centralised tracker for declarations, confirmations, threats, safeguards, and interests register. Aligns to Manual Section 7 and APES 110.
CPD & Competence Register (Excel): CPD activity tracking, 14 competence area assessments, and personnel compliance summary. Aligns to Manual Section 10.
ASQM 2 Engagement Quality Review Guide: Step-by-step guide for performing EQRs with SMSF-specific checklists and worked examples.
WHO IS THIS FOR?
This suite is designed for sole practitioners, small-to-medium SMSF audit firms, and any registered SMSF auditor who needs robust, ASIC-ready quality management documentation without the cost of building it from scratch.
KEY FEATURES
Fully aligned to ASQM 1 (February 2025 Compilation, incorporating ASA 2022-1 and ASA 2025-2 amendments)
SMSF-specific risk coverage: crypto assets, LRBAs, related-party transactions, section 129 reporting, in-house assets
Assertion-based language throughout - written as operational policy, not aspirational guidance
Embedded ASQM 1 paragraph references for easy cross - referencing during ASIC inspections
8 documents in Word and Excel formats - fully editable to customise for your practice
Delivered as a single ZIP download containing all 8 files