March 24, 2014

Center for Audit Quality Issues Cybersecurity Member Alert Ahead of SEC Roundtable

Washington, DC – In response to increasing concerns in the business, investment, and regulatory communities around cybersecurity risk management, the Center for Audit Quality (CAQ) issued to its nearly 600 public company auditing firm members an alert which summarizes the responsibilities of the independent external auditor with respect to cybersecurity matters.

“Cybersecurity is no longer viewed as just an ‘IT’ issue. Rather, it is being treated as a broader business issue,” according to the member alert issued in advance of the Securities and Exchange Commission’s (SEC) March 26 Cybersecurity Roundtable.

“Cybersecurity is one of the most complex and evolving issues facing public companies,” said CAQ Executive Director Cindy Fornelli. “All players in the financial reporting supply chain, including of course independent auditors, have an important role to play.”

The CAQ welcomes a robust dialogue at the SEC roundtable and appreciates the Commission’s leadership on this critical issue.

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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.