January 4, 2010

CAQ Congratulates Grant Thornton LLP’s New Chief Executive Officer Stephen Chipman

Washington, D.C. — The Center for Audit Quality (CAQ) issued the following statement from Executive Director Cindy Fornelli regarding the election of Stephen Chipman as Chief Executive Officer of Grant Thornton LLP:

“The CAQ congratulates Stephen Chipman on his appointment as Chief Executive of Grant Thornton LLP. Stephen is a trusted expert on international business and foreign affairs with extensive professional experience in Asia, Europe and the United States. We welcome Stephen to the CAQ Governing Board and look forward to adding his international expertise to our work on issues important to investors, public company auditors and the global capital markets.

We also applaud Grant Thornton LLP’s outgoing CEO Edward Nusbaum on his appointment as Chief Executive Officer of Grant Thornton International. As a charter member of the CAQ’s Governing Board, Ed has been instrumental to the growth of our organization. We thank him for his dedicated service to the profession and the CAQ.”

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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.