CAQ Snapshot: August 2019
Thursday, August 29, 2019
CAQ Symposium Explores Impact and Implementation of New Auditing Standards
Top practitioners from the public company auditing profession gathered with leading academics at the 11th Annual CAQ Symposium, held on August 11 in San Francisco. The event, which coincides each year with the American Accounting Association’s Annual Meeting, is a key part of the CAQ’s ongoing dialogue with the academic community on how research can inform audit practice.
This year’s Symposium included panel discussion on theoretical approaches to assessing the impact of proposed auditing standards, as well the latest insights on implementation of new standards. Stay tuned for video and other highlights from the event, which will be made available on the CAQ’s website.
CAQ Files Pair of Comment Letters with the SEC
In late July, the CAQ weighed in on two proposals from the Securities and Exchange Commission (SEC). For one of these proposals—“Amendments to Financial Disclosures about Acquired and Disposed Businesses”—the CAQsuggested a wide range of potential improvements, focusing on areas such as significance tests, independence, and foreign businesses.
Another CAQ comment letter addressed the SEC’s Proposed Rule, “Amendments to the Accelerated Filer and Large Accelerated Filer Definitions. “We believe the amendments in the Proposed Rule may not have the intended benefits to capital formation,” said the letter, which urged the SEC to preserve the current accelerated filer definition.
Along with its comment letter on the accelerated filer proposal, the CAQ released a Profession in Focus video featuring Catherine Ide, CPA, CAQ Senior Managing Director of Professional Practice and Member Services. In the video, Ide explains the significance of companies’ filing statuses, particularly regarding requirements related to audits of internal control over financial reporting. She also discusses the implications of the SEC proposal for investors and markets.
#AuditorProud Day: Coming September 26!
If you are #AuditorProud, join the CAQ, its member firms, and others across the globe on September 26 as we take to social media to celebrate the auditing profession and the many positives of auditing careers. AtDiscoverAudit.org, get more information, participation ideas, and resources, and keep up with #AuditorProud day on Twitter,Instagram, and Facebook.
#ConfidentTogether: Focus on Dialogue and Integrity
Throughout 2019, the CAQ is shining a spotlight on the core values and themes that define the public company auditing profession. In August, the CAQ has highlighted dialogue. September’s theme will be integrity. Follow along and join the conversation on social media using #ConfidentTogether.
“Share Your Road” to Help Students and Future Auditors
Auditors: Ever wish you could go back in time and give your younger self some pointers about life and a career in auditing? Here’s your chance! The CAQ has partnered with the career experts at Roadtrip Nation to create a career advice site that allows audit professionals like you to pass down your stories and advice to students, career seekers, and career counselors. Share the story of how you got to where you are today, and help others find their way, at www.discoveraudit.shareyourroad.com.
Check Out These Upcoming Events
September 13; Newark, DE
Learn more about the Investor Stewardship Principles and Corporate Governance Principles at this daylong conference, co-hosted by Investor Stewardship Group (ISG) and the John L. Weinberg Center for Corporate Governance at the University of Delaware.
September 16–18; Minneapolis, MN
The CAQ is pleased to continue its participation with the Council of Institutional Investors at its 2019 Fall Conference. On September 17, CAQ Executive Director Julie Bell Lindsay will participate in the session “Auditing Issues and Proxy Voting.” With her on the panel will be Michele Hooper, President and CEO, The Directors’ Council; Elizabeth Mooney, Accounting Analyst, Capital Group; Mary Morris, Investment Officer, California State Teachers Retirement System; and Sandra Peters, Head, Financial Reporting Policy, CFA Institute.
September 21–24; Washington, DC
We look forward to seeing our governance colleagues at the National Association of Corporate Directors (NACD) 2019 Global Board Leaders’ Summit. On September 21, Julie Bell Lindsay will participate in the Small Cap Company Symposium.
September 23–24; Las Vegas, NV
At this Practising Law Institute event, the CAQ’s Catherine Ide will join Timara Marquis, Audit & Assurance Senior Manager at Deloitte & Touche LLP, for a session focused on internal control over financial reporting.