June 22, 2010

CAQ Expands Commitment to Academic Research on Auditing by Funding Three New Research Studies

~~Projects to Focus on Audit Quality, Engagement Quality Review 
and Fraud Deterrence and Detection~~ 

Washington, D.C. — The Center for Audit Quality (CAQ) has announced the funding of three independent, scholarly auditing-related research projects by the CAQ’s Research Advisory Board (RAB).

“The CAQ is committed to expanding opportunities for active engagement between the academic community and the profession to increase the impact of audit research on audit practice,” said Executive Director Cindy Fornelli. “The RAB has done a tremendous job evaluating the proposals and selected three outstanding research projects that will help to foster high quality performance by public company auditors.”

In response to a request for proposals in December 2009, the RAB received more than 30 proposals that addressed such topics as audit quality, fraud deterrence and detection, professional judgment and professional skepticism. The RAB, which promotes credible and timely academic research on topics germane to the field of auditing, reviewed the proposals and selected the following projects for funding:

  • “Can Earnings Quality Research Tell Us Anything about Audit Quality?” by Jere Francis and Paul Michas, University of Missouri 
  • “The Impact of Engagement Quality Control Review Practices on Concurring Partner Objectivity,” by Jennifer Mueller, James Long and Duane Brandon, Auburn University 
  • “The Effect of Prevention and Detection Interventions on Fraud Dynamics in Organizations,” by Jon Davis and Heather Pesch, University of Wisconsin 

“Funding academic research on audit-related topics benefits audit quality and also provides increased opportunities for interaction between academics and practitioners,” said Fornelli. “Once again, we are proud to make these funding commitments to support the work of two PhD students (Michas and Pesch) and a new faculty member (Long).”

The RAB is comprised of members from the academic world and the auditing profession and is committed to annually funding the best research projects on audit topics. 

# # # 

The Center for Audit Quality (CAQ) is an autonomous 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, D.C., the CAQ is affiliated with the American Institute of Certified Public Accountants. For more information, visit www.thecaq.org