Quality Management: Performing a Root Cause Analysis

Overview

Root cause analysis is a powerful tool for understanding why quality issues arise, and for preventing them from recurring.

This webcast examines the principles and objectives of a root cause analysis and how it aligns with SQMS No. 1’s focus on continual improvement.

Learn practical approaches for:

Identifying underlying causes of findings and deficiencies

Evaluating contributing factors

Implementing meaningful corrective actions

We'll also explore how this process can help firms of all sizes to:

Enhance audit quality

Strengthen remediation activities

Foster a culture of proactive problem-solving

Highlights

Broad discussion of root cause analysis, including what a root cause analysis is, how it works, and why it is understood to be an effective tool

The requirements of SQMS No. 1 (QM section 10) regarding root cause analysis

Applying the discussed steps of a proper root cause analysis in a real-world scenario

Documentation considerations for root cause analysis

Prerequisites

‘- General understanding of the participant’s firm’s system of quality management. - Familiarity with SQMS No. 1 (QM section 10).

Designed For

Sole proprietors of audit and assurance firms

Responsible partners and staff at small- and medium-sized audit and assurance firms

Objectives

Apply the requirements of SQMS No. 1 applicable to monitoring and remediation.
Determine the purpose and key features of a root cause analysis.
Analyze the steps in a proper root cause analysis.
Apply the requirements of SQMS No. 1 and the root cause analysis process to example findings.

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Joe Lynch, AICPA
Michael Brand, AICPA

Leader Bios

Michael Brand, AICPA

Michael L. Brand, CPA is a partner in the firm of Johnson, Feigley, Newton & Brand in Athens, Alabama. For the past 20 years, he has been involved in all aspects of public accounting with in emphasis in accounting, auditing, and review services. He also teaches continuing education classes and has been a speaker at several conferences nationwide. He is the current chair of the Alabama Society of Certified Public Accountants Peer Review Committee.

Brand’s experience involves audits, reviews, and compilations of various for-profit industries, not-for-profits, and governmental entities. He was formally on the Peer Review Board, Joint Trial Board, and the Quality Control Standards Task Force. In 2010 he received the Outstanding Discussion Leader Award.

Brand received his BS in accounting from the University of North Alabama.

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