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CAQ Announces Funding of Auditing Research Projects

Tuesday, July 14, 2009

~~Academics to Focus on Audit Quality, Professional Judgment 
and Professional Skepticism~~ 

Washington, D.C. – The Center for Audit Quality (CAQ) has announced the selection of auditing-related research projects by the CAQ’s Research Advisory Board (RAB).

“The funding of independent academic research projects is an increasingly important element in the CAQ’s mission to advance audit quality and represents the Center’s ongoing efforts to provide opportunities for active engagement between the academic community and the profession,” said CAQ Executive Director Cindy Fornelli.

In response to a request for proposals (RFP) issued in March, academics from around the world submitted nearly 50 proposals that addressed one of four topics: audit quality, professional judgment, professional skepticism, and the value of the audit. The RAB, which promotes credible and timely academic research on topics germane to the field of auditing, reviewed the proposals and selected the following five projects for funding:

  • “The Collaboration Between Financial Statement Auditors and Fraud Experts in Fraud Risk Assessment,” by Stephen Asare, University of Florida, and Arnie Wright, Northeastern University
  • “A Review and Model of Auditor Judgments in Fraud-Related Planning Tasks,” by Jacqueline Hammersley, University of Georgia
  • “Does Context Influence Auditors’ Fair Value Judgments?” by Vicky Hoffman, University of Pittsburgh, Christine Earley, Providence College, and Jennifer Joe, Georgia State University
  • “Training Auditors in Professional Skepticism,” by David Plumlee and Brett Rixom, University of Utah, and Andrew Rosman, University of Connecticut
  • “Enhancing Professional Skepticism,” by Ken Trotman, University of New South Wales, Australia

“The CAQ recognizes the importance of independent research to the profession and we are proud to support these outstanding academics as they embark on their robust research projects,” said Fornelli. “We are also pleased to note that one of the research projects selected for funding will support the work of an individual who recently received her Ph.D. (Jacqueline Hammersley), and another award will underwrite the efforts of a doctoral candidate (Brett Rixom).”

The RAB is comprised of four members from the academic world and four representatives from the auditing profession. The RAB’s goal is to make the request for research on issues important to the profession an annual initiative.

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The Center for Audit Quality (CAQ) is an autonomous public policy organization serving investors, public company auditors and the capital markets. The CAQ’s mission is to foster confidence in the audit process and to aid investors and the markets by advancing constructive suggestions for change rooted in the profession’s core values of integrity, objectivity, honesty and trust. Based in Washington, D.C., the CAQ is affiliated with the American Institute of Certified Public Accountants. For more information, visit