December 12, 2017

CAQ Statement on PCAOB Leadership Changes

Washington, DC – Cindy Fornelli, executive director of the Center for Audit Quality (CAQ), issued the following statement responding to the appointment of William D. Duhnke III as the new PCAOB chairman as well as other incoming board members, J. Robert Brown, Kathleen M. Hamm, James G. Kaiser, and Duane M. DesParte.

“The CAQ congratulates incoming PCAOB Chairman William Duhnke, as well as the four other incoming board members. The PCAOB’s efforts to promote high-quality, independent audits of public companies are crucial to investor confidence and the vitality of our capital markets. Chairman Duhnke will lead a new PCAOB board made up of experts with diverse backgrounds and experience that will help in carrying out its important mission. The CAQ looks forward to serving as a resource to Chairman Duhnke and the PCAOB as part of the public company auditing profession’s commitment to continuous improvement.

"The CAQ thanks Chairman Jim Doty, and Board Members Steve Harris, Lew Ferguson, and Jeanette Franzel for their service and strong commitment to enhancing audit quality. We wish them the very best in their future endeavors."


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, DC, the CAQ is affiliated with the American Institute of CPAs. For more information, visit