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Accounting and Corporate Regulatory Authority

Audit Practice Guidance No. 2 of 2026 – Strengthening Systems of Quality Management: From Compliance to Continuous Improvement

10 November 2026

Audience

Accountants

Accounting entities

News Topic

Accounting standards and sector regulation

Category

Announcement

This guidance provides practical insights, key considerations and good practices to help audit firms strengthen their Systems of Quality Management (SoQMs). It focuses on both the risk assessment process and the monitoring and remediation process to support continuous improvement and sustained audit quality.

Download the practice guidance (opens in new tab)

ACRA has released Audit Practice Guidance No. 2 of 2026 – Strengthening Systems of Quality Management (“SoQMs”): From Compliance to Continuous Improvement [PDF, 1.7MB] (opens in new tab). The guidance supports audit firms in stronger and more effective SoQMs through practical insights, key considerations and good practices the risk assessment process and the monitoring and remediation process.

An effective SoQM goes beyond annual compliance. It is a proactive risk management tool that helps firms identify risks early, respond promptly, turn findings into lessons, and embed quality into everyday decisions.

Quality is not achieved by chance. It is built through deliberate action and sustained commitment. By strengthening their SoQMs, firms can:

  • deliver consistently high-quality audits;

  • support greater business transparency; and

  • reinforce trust in Singapore's business ecosystem.

Download Audit Practice Guidance No. 2 of 2026 [PDF, 1.7MB] (opens in new tab) to learn more about strengthening your SoQM.