Optimizing Quality Management Documentation for SQMS No. 1
To ensure compliance with the Statement on Quality Management Standards No. 1, firms must create a comprehensive and right-sized quality management documentation. The standard, which becomes effective on December 15, 2025, requires more than just a static document.
The goal is to have a
living QM system that is designed, implemented, operated, and evaluated on an ongoing basis, rather than a one-time creation. By following practical tips, firms can keep their documentation appropriate and comprehensive, yet right-sized.
Key points to consider include the importance of an ongoing quality management system and the need for documentation that supports the system's design, implementation, and operation.
Author's summary: Right-size your SQMS No. 1 documentation for compliance.