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.
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).
CAQ - As issued
Provides access to the current and archived SEC Regulations Committee meeting highlights as issued by the SEC Regulations Committee
CAQ - As issued
Provides access to the current and archived International Practices Task Forcemeeting highlights as issued by the International Practices Task Force