The Center for Audit Quality (CAQ) is an autonomous, nonpartisan, and nonprofit public policy organization based in Washington, DC. Supported by a membership of U.S. accounting firms registered with the Public Company Accounting Oversight Board (PCAOB), the CAQ is led by a Governing Board made up of CEOs from leading public company auditing firms and the AICPA, as well as three members from outside the public company auditing profession. The CAQ is affiliated with the American Institute of CPAs.
The CAQ is dedicated to enhancing investor confidence and public trust in the global capital markets by:
To serve its members and to enhance investor confidence, the CAQ engages in a wide range of activities in the United States and across the globe.
These activities include providing thought leadership on proposed rules and standards, as well as webcasts, events, and tools for the profession and other members of the financial reporting supply chain. The CAQ also collaborates with key stakeholders, including outreach to retail and institutional investors. While conducting its own research, the CAQ works closely with the academic community to facilitate independent research relevant to the auditing profession.
In 2016, Fornelli was honored for the eighth time by Directorship magazine as one of the 100 most influential people on corporate governance and in the boardroom. Accounting Today has named her one of the 100 most influential people in accounting for ten consecutive years. Prior to joining the CAQ, Fornelli was the Regulatory and Conflicts Management Executive at Bank of America and the Deputy Director, Division of Investment Management of the U.S. Securities and Exchange Commission.