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CAQ Announces New Funding Opportunities for Auditing-Related Academic Research

Tuesday, December 14, 2010

Washington, D.C. – The Center for Audit Quality (CAQ) has issued a request for proposals (RFP) to fund independent academic research on projects of interest to the auditing profession. .

The funding of scholarly research on audit-related topics supports the CAQ’s mission to advance audit quality.

“For the third consecutive year, our Research Advisory Board (RAB) is prepared to fund academic research projects on auditing-related topics, including audit quality, the value of the audit and professional judgment,” said CAQ Executive Director Cindy Fornelli. “Not surprisingly, given how prominent anti-fraud has been in our activities, this year’s RFP places a strong emphasis on research related to financial reporting fraud deterrence and detection. The support and studies of academics are important ingredients in the collaborative effort to mitigate the risk of financial statement fraud.”

Working through the RAB, the CAQ anticipates making available a total of up to $200,000 in 2011 to fund multiple projects that address the following topics:

  • Fraud deterrence and detection
    • How effective is the audit committee? What affects the audit committee’s ability to be skeptical?
    • Are there non-financial measures that when analyzed in conjunction with financial statement numbers indicate a heightened risk of fraud?
  • Professional skepticism
    • What influences the ability of senior audit team members to be skeptical in the field? 
    • How is maintaining appropriate skepticism reinforced in the field? 
    • Does the increased use of specialists impact skepticism?
    • What triggers auditors to seek, stop seeking, document and determine whether or not to use disconfirming evidence? 
    • How does the regulatory structure of a country impact skepticism? 
    • How does the increased use of electronic vs. face-to-face communications impact the ability to be skeptical? 
  • Impact of communication and information technologies on the audit 
  • Audit quality 
  • Professional judgment 
  • Value of the audit 

The CAQ’s RAB, comprised of academics and members of the profession, promotes independent audit and accounting research. The activities undertaken by the RAB are intended to stimulate academic interest in auditing and accounting research. 

The number of projects selected for funding will depend on the quality and number of proposals received and the total dollar amount of funds requested. To be considered, proposals should be received by 5:00 p.m., Tuesday, March 1, 2011.

The RFP is available on the CAQ’s website at

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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, D.C., the CAQ is affiliated with the American Institute of Certified Public Accountants. For more information, visit