Cybersecurity
A complex and evolving issue, cybersecurity has serious implications for public companies, their boards, investors, and other stakeholders. The CAQ works to illuminate the role of auditors in this critical area.
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Annual CAQ Symposium
The Annual CAQ Symposium is designed to bring together practice leaders and audit research scholars for discussion of important issues and exploration of how research can inform those issues. On the pages for each event, find videos, summaries, and lists of panel participants (along with biographical information for those panelists).
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Publications 03.24.21
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Video 01.28.21
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08.28.20
Anti-Fraud
The CAQ and the Anti-Fraud Collaboration produce a wide range of resources to promote the deterrence and detection of financial reporting fraud. Key topics include fraud prevention and detection, emerging technologies, regulatory matters, and culture.
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Publications 04.05.21
Fraud and Emerging Tech: Artificial Intelligence and Machine Learning
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Comment Letter 02.01.21
IAASB: Discussion Paper, Fraud and Going Concern in an Audit of Financial Statements
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Publications 01.12.21
Audit Committee Issues
Policymakers across the globe increasingly recognize the vital role of audit committees and their importance to audit quality. In close collaboration with partner organizations, the CAQ is actively engaged in policy developments related to audit committees.
Audit Quality Indicators
The CAQ has been at the forefront of the movement to develop quantitative and qualitative metrics regarding the audit—commonly referred to as audit quality indicators (AQIs)—that could be used to better inform audit committees about key matters that may contribute to the quality of an audit.
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Video 10.01.19
Profession in Focus: Communicating the Commitment to Audit Quality
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Video 07.23.19
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Publications 01.08.19
Auditor Independence
Along with skepticism and objectivity, independence is a pillar of audit quality. Audit firms are committed to continuously enhancing their policies, processes, and systems to monitor independence on audit engagements.
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Publications 04.02.19
External Auditor Assessment Tool: A Reference for US Audit Committees
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Comment Letter 07.03.18
SEC: Auditor Independence with Respect to Certain Loans or Debtor-Creditor Relationships
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Alert 12.10.17
Auditor Reporting
Engaging constructively with policymakers and key stakeholders, the CAQ and its members have made substantial and practical contributions to ongoing efforts to enhance information presented in the auditor’s report to investors and other users.
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Alert 01.07.21
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Alert 12.07.20
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Alert 11.06.20
Audits of Brokers and Dealers
A significant portion of the CAQ’s member firms audit brokers and dealers. The CAQ monitors and provides resources to aid its membership in this area, which is a focus for policymakers.
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Alert 09.03.20
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Alert 08.27.19
CAQ ALERT #2019-01 – PCAOB REPORT ON 2018 INSPECTIONS OF BROKERS AND DEALERS
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Alert 09.07.18
Effective Disclosure
The CAQ is a prominent voice in the discussion about effective financial disclosures. Convening key investor and financial groups, the CAQ has developed concrete recommendations on ways to facilitate investors’ access to meaningful information.
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Comment Letter 11.25.19
SEC: Update of Statistical Disclosures for Bank and Savings and Loan Registrants
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Comment Letter 07.29.19
SEC: Amendments to Financial Disclosures about Acquired and Disposed Businesses
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Video 11.20.18
Emerging Technologies
Emerging technologies are altering the financial reporting environment substantially, and this change is accelerating. For auditors and others in financial reporting, the CAQ provides insights on the benefits and risks of technology developments.
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Publications 05.16.19
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Publications 01.12.20
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Video 04.09.19
Fair Value Accounting
The CAQ has engaged on the issue of fair value (or mark-to-market) accounting, regarding both its usage broadly in the markets and in the context of auditing fair value measurements.
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Alert 03.02.18
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Publications 03.12.09
CAQ Testimony: “Mark-to-Market Accounting: Practices and Implications”
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Meeting Highlights 06.12.97
ICFR
Robust internal control over financial reporting (ICFR) is a keystone of investor confidence. The CAQ has advanced the discussion around ICFR and produced a range of resources on the issue.
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11.18.20
Perspectives on Management Review Controls: Challenges and Solutions
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Alert 05.01.20
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Alert 02.07.20
IFRS
In an increasingly interconnected global economy, market participants are considering whether it is possible or desirable to move toward a more uniform global “language” for financial reporting. As the discussion has taken place around International Financial Reporting Standards (IFRS), the CAQ has been an active voice.
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Alert 01.07.21
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Alert 12.07.20
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Alert 11.06.20
Independent Standard Setting
The CAQ has been outspoken against policy provisions that would interfere with the independence of the accounting and auditing standard-setting processes.
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Alert 01.07.21
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Alert 12.07.20
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Alert 11.06.20
Mandatory Firm Rotation
The CAQ has been a leading voice on the issue of mandatory audit firm rotation, which has significant implications for investors, audit committees, public company auditors, and the markets.
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Comment Letter 12.14.11
PCAOB: Concept Release on Auditor Independence and Audit Firm Rotation
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Comment Letter 02.14.14
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Comment Letter 12.14.11
PCAOB: Concept Release on Auditor Independence and Audit Firm Rotation
Role of the Auditor
The CAQ has been at the forefront of the discussion around the role of the public company auditor and whether it should evolve to meet the changing information needs of investors.
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Alert 01.07.21
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Alert 12.07.20
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Alert 11.06.20
Sarbanes-Oxley
The enactment of the Sarbanes-Oxley Act (SOX) of 2002, a law aimed at fostering more reliable financial reporting and enhancing audit quality, was a watershed moment for investors, public company auditors, and the markets. The CAQ has worked to create understanding of the impact of this important law. It has opposed efforts to weaken SOX section 404(b), which provides investors with important assurance by the independent auditor regarding management’s representations about the effectiveness of their company’s internal control over financial reporting (ICFR).
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Video 08.01.19
Profession in Focus: Accelerated Filers, ICFR Audits, and Investor Protection
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Comment Letter 07.29.19
SEC: Amendments to the Accelerated Filer and Large Accelerated Filer Definitions
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Publications 05.09.19