In the context of this ASQM, it is intended that the operation of the system as a whole provides the firm with reasonable assurance that the objectives of the system of quality management are being achieved. In concluding on the system of quality …

There may be circumstances when identified deficiencies that are severe (including identified deficiencies that are severe and pervasive) have been appropriately remediated and the effect of them corrected at the point in time of the evaluation. In such …

An identified deficiency may have a pervasive effect on the design, implementation and operation of the system of quality management when, for example: The deficiency affects several components or aspects of the system of quality management. The …

The individual(s) assigned ultimate responsibility and accountability for the system of quality management may conclude that the system of quality management does not provide the firm with reasonable assurance that the objectives of the system of quality …

It may take time for the firm to remediate identified deficiencies that are severe and pervasive. As the firm continues to take action to remediate the identified deficiencies, the pervasiveness of the identified deficiencies may be diminished and it may …

This ASQM does not require the firm to obtain an independent assurance report on its system of quality management, or preclude the firm from doing …

T aking Prompt and Appropriate Action and Further Communication   (Ref: Para. 55) …

In circumstances when the individual(s) assigned ultimate responsibility and accountability for the system of quality management reaches the conclusion described in paragraph 54(b) or 54(c) , the prompt and appropriate action taken by the firm may …

In some circumstances the firm may have an independent governing body that has nonexecutive oversight of the firm. In such circumstances, communications may include informing the independent governing …

Examples of circumstances when it may be appropriate for the firm to communicate to external parties about the evaluation of the system of quality management When the firm belongs to a network. When other network firms use the work performed by the firm, …