May 15, 2014

CAQ’s Fornelli Responds to Announcement of Beswick’s Departure from SEC

Washington, DC – Center for Audit Quality Executive Director Cindy Fornelli issued the following statement in regard to the announcement that Securities and Exchange Commission (SEC) Chief Accountant Paul A. Beswick plans to leave the agency:

“During his tenure at the SEC, Paul Beswick has been a leader on many key initiatives impacting investors and our capital markets, including an important study on mark-to-market accounting and implementation of the myriad rulemakings mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Jumpstart Our Business Startups (JOBS) Act.

“The public company auditing profession recognizes Paul for his exemplary leadership and service, and we wish him well in his new endeavors.”

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About the CAQ

The Center for Audit Quality (CAQ) is an autonomous, nonpartisan public policy organization dedicated to enhancing investor confidence and public trust in the global capital markets. The CAQ fosters high quality performance by public company auditors, convenes and collaborates with other stakeholders to advance the discussion of critical issues requiring action and intervention, and advocates policies and standards that promote public company auditors’ objectivity, effectiveness and responsiveness to dynamic market conditions. Based in Washington, DC, the CAQ is affiliated with the American Institute of Certified Public Accountants. For more information, visit www.thecaq.org.