What it is
SQMS No. 1 turns quality control into a risk process. The firm states objectives, identifies risks to them, assesses the risks and designs responses. A register is where that work lives and where tests of each response are recorded.
The workbook has one row per quality risk with component, objective, scored likelihood and impact, a rating from your cutoffs, the response, owner, last test and result, and remediation status. A summary shows counts and average scores by component, untested responses and open deficiencies.
When to use it
- The firm’s annual risk assessment.
- Scheduling and recording tests of responses.
- Feeding the monitoring and remediation log.
What’s inside
- 60 quality risk rows across the eight components
- Likelihood times impact scoring and rating cutoffs
- Response, owner, test and remediation columns
- Summary by component with untested and deficiency counts
Standard cited
This template follows SQMS No. 1. It is written in our own words, except for phrases the standard requires the document to contain, with [bracketed placeholders] for client details, amounts in USD and dates as MM/DD/YYYY. Check it against the current standard and your firm’s methodology before use.
Questions
Does the register list the risks for me?
No. SQMS No. 1 makes the firm identify its own risks. The register is blank on purpose.
How is the score set?
Likelihood and impact are 1 to 5. The score is the product. The High and Medium cutoffs are inputs.
Where do deficiencies go?
Into the firm’s monitoring and remediation log, with root cause and remediation plan.
Related templates
- Quality Management Policy Manual Outline (SQMS No. 1)
- SQMS 1 Monitoring and Remediation Log
- SQMS No. 1 Annual Evaluation Checklist
- Risk Register
Last updated 11/05/2026. All free templates.