SQM How to - Monitor - Understanding

SQM How to - Monitor - Understanding

Monitor - Understanding

The following describes the functionality and features included in SQM.

Objective

The objective of this page in SQM is to document an understanding of the firm and its system of quality management in preparation for the monitoring of the firm’s system of quality management.

Page position

Understanding can be found in the Monitor module.

Page content

This page contains questions that prompt the individual with operational responsibility for performing the monitoring and remediation process, to document their understanding of the firm’s system of quality management. This understanding will assist in determining the nature, timing and extent of the monitoring activities that will be performed.
The questions are divided into two sections which include:
• Understanding of the firm and its engagements; and 
• Design of the firm’s system of quality management.
1. Expand a section
To expand a section, click on the section header.

The questions for that section will then be visible. 

2. Collapse a section
To collapse a section, click on the section header.

3. Answer a question
The sections include questions that either require a manual input into a text area or a box that holds options to select in response to the question.
• Questions with text areas: The question is answered by completing the text area. 

• Simple question: The question is answered by selecting one of the options provided in the box.

4. Change height of text area
Where the information recorded in a text area is more than the space provided by default, the height of the field can be increased. 
Select the bottom right corner of the text area and drag it down to increase and up to decrease the height. 

5. Sign-offs and approvals
Preparer sign-off
All questions must be answered and signed off as ‘prepared by’ before continuing with the rest of the monitoring and remediation process. This is achieved by clicking on the sign-off icon next to the question.

Page Outcomes

After completing this page, the individual with operational responsibility for performing the monitoring and remediation process will have sufficient understanding of the firm and its system of quality management in order to determine the nature, timing and extent of the monitoring activities that have to be performed. 

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