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CAQ files amicus brief in the U.S. Supreme Court case Janus Capital Group Inc. v. First Derivative Traders

Friday, September 10, 2010

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The Center for Audit Quality (“CAQ”) is a public policy organization that seeks to aid investors and the capital markets by advancing constructive suggestions rooted in the audit and accounting profession’s core values of integrity, objectivity, honesty, and trust. Any U.S. accounting firm registered with the Public Company Accounting Oversight Board (“PCAOB”) may join the CAQ. The CAQ is affiliated with the American Institute of Certified Public Accountants (“AICPA”), and has approximately 750 U.S. public company accounting firms as members, representing tens of thousands of professionals dedicated to audit quality. The CAQ seeks to improve the reliability of public company audits and to enhance their relevance for investors, particularly in this time of growing financial complexity and globalization. The CAQ is dedicated to helping increase public confidence in the auditing process and to maintaining high standards in the accounting profession. To fulfill its mission, the CAQ offers recommendations to policymakers, issues technical support for public company auditing professionals, and participates in the public discussion about financial reporting. For example, among many other recent activities, the CAQ has filed amicus briefs in cases concerning the unconstitutionality of statutory provisions for removal of members of the PCAOB; the confidentiality of documents, communications, and information regarding or relating to a PCAOB inspection; and the distinction between primary and secondary liability under Section 10(b) of the Securities Exchange Act of 1934.