August 26, 2014

Fornelli Statement on Appointment of Schnurr as SEC Chief Accountant

Washington, DC – Center for Audit Quality Executive Director Cindy Fornelli released the following statement today on the appointment of James Schnurr as the Securities and Exchange Commission’s Chief Accountant:

“During his extensive career in the accounting and auditing profession, Jim has made significant contributions on many important initiatives through his work with the CAQ’s Professional Practice Executive Committee.

“As the SEC’s new Chief Accountant, he will bring a valuable understanding of the regulatory and standard-setting process and expertise in risk management, which will benefit investors and the public company auditing profession. 

“The CAQ welcomes the opportunity to work with Jim to help ensure that companies are providing accurate and complete financial information that is so critical to the effective functioning of our capital markets.” 

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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, D.C., the CAQ is affiliated with the American Institute of CPAs. For more information, visit www.thecaq.org.