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Comment Letter

SEC: Amendments to Rule 2-01, Qualifications of Accountants

Monday, March 16, 2020

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The CAQ believes auditor independence is foundational to audit quality. Being independent is a core part of the auditor’s role, and thus maintaining and enhancing independence are top priorities for the auditing profession. As such, the CAQ appreciates the opportunity to share our views and provide input on the Securities and Exchange Commission’s (Commission or SEC) Proposed Rule, Amendments to Rule 2-01, Qualification of Accountants (Proposed Rule or proposal). The CAQ firmly believes that the Commission’s auditor independence requirements play a critical role in helping to protect the reliability and integrity of financial statements issued by registrants. We are committed to helping ensure that modifications to the Commission’s auditor independence requirements are designed to continue enhancing investor protection.

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