Center for Audit Quality (CAQ)

Website: thecaq.org

The Center for Audit Quality is dedicated to enhancing investor confidence and public trust in the global capital markets. The CAQ has standing committees and task forces that each have a different role in enhancing the quality of public company auditing and financial reporting, including Professional Practice Executive Committee (PPEC); SEC Regulations Committee; International Practices Task Force; and Smaller Firm Task Force.

Recent Developments – Past 90 days



Select news releases

CAQ-sponsored report shows value of effective ethics & compliance programs 
AICPA - 03/24/2015
The Ethics Research Center has released a new report titled "The State of Ethics in Large Companies." The report, sponsored by the AICPA's Center for Audit Quality (CAQ), highlights key points for how large companies can dramatically improve workplace behavior by implementing effective ethics and compliance (E&C) programs to reduce employee misconduct particularly at the senior and middle management level. As the paper shows, large companies (90,000 or more employees) with effective programs experience half of the rules and standards violations as those without effective programs.

CAQ issues Alert on select auditing considerations for the 2014 audit cycle
CAQ - 12/4/2014
The CAQ published an Alert intended to remind member firms of certain auditing considerations that may be relevant for the 2014 audit cycle. The Alert identifies and discusses some of the more judgmental or complex audit areas, including revenue recognition, going concern, internal control over financial reporting, auditing accounting estimates, including fair value measurements, engagement quality review, professional skepticism, and related parties and significant unusual transactions.

CAQ and Audit Analytics release findings from new Audit Committee Transparency Barometer
CAQ - 12/2/2014
The CAQ and Audit Analytics, an independent research provider, released findings from the new Audit Committee Transparency Barometer. The CAQ and Audit Analytics have undertaken an analysis of 2014 audit committee disclosures in proxy statements, applying a “barometer” to measure the robustness of these disclosures among 1,500 Standard & Poor's (S&P) composite companies.

CAQ and AICPA issue joint member alert highlighting independence rules
CAQ - 11/19/2014
The AICPA and the Center for Audit Quality (CAQ) have jointly issued an Alert (click here) intended to provide audit firms with an overview of the independence rules of the SEC and PCAOB applicable with respect to financial statement audit and attestation engagements undertaken for the following non-issuers: (i) Non-issuer broker-dealers that are registered with the SEC as a broker or dealer; and (ii) Where the engagement(s) is subject to the requirements of SEC Rule 206(4)-2 (17 CFR 275.206(4)-2), SEC-registered and state-registered investment advisers, related party custodians, or private funds (e.g., pooled investment vehicles).

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Highlights of SEC Regulations Committee meeting

SEC Regulations Committee highlights

CAQ - As issued

Provides access to the current and archived SEC Regulations Committee meeting highlights as issued by the SEC Regulations Committee

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Highlights of International Practices Task Force meeting

International Practices Task Force highlights

CAQ - As issued

Provides access to the current and archived International Practices Task Forcemeeting highlights as issued by the International Practices Task Force

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