PCAOB cuts QC 1000 record retention to five years and drops the external function
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Five years, not seven.
The Public Company Accounting Oversight Board adopted targeted amendments to QC 1000 on Wednesday. The changes remove the requirement for an external quality control function and let firms choose the date of their annual quality system evaluation.
The Board also shortened the record retention period for quality system documentation from seven years to five. It removed the design-only requirement for firms that do not perform work subject to applicable professional and legal requirements.
SEC approval is still required. The PCAOB left the standard's December 15, 2026 effective date unchanged and said approved amendments would take effect that day.
The document: PCAOB release, QC 1000 amendments, September 9, 2026.
