January 1, 2016

CAQ Statement on the Passing of Michael G. Oxley

Washington, D.C. – The Center for Audit Quality (CAQ) issued the following statement from Executive Director Cindy Fornelli in response to the news of the death of former U.S. Congressman Michael G. Oxley:

"The CAQ is saddened by the passing of Mike Oxley, a leader whose work shaped the Nation significantly for the better.

“Mike's principles ran deep. Over his 34-year career in public service, he proved himself a staunch defender of free enterprise and markets. Yet his principles did not prevent him from earning the respect of colleagues across the political spectrum. 

"His ability to work with others was just one of many qualities that helped him to compile an amazing list of accomplishments both in the public service and in the private sector. Of his many achievements, the Sarbanes-Oxley Act of 2002 looms large. The law strengthened financial reporting and audit quality through greater executive accountability, new oversight of public company audits, independent audit committees, and enhanced auditor independence. Its legacy is evident in the robust levels of confidence that investors, from Wall Street to Main Street, show in U.S. capital markets. 

“The CAQ honors Mike's life and work, and our thoughts go out to his family and loved ones."

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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 CPAs. For more information, visit www.thecaq.org.