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CAQ Snapshot: February 2019

Wednesday, February 27, 2019

Watch: CAMs

Raising CAMs Awareness: CAQ Video and April 1 Webcast  

Auditors of large accelerated filers will be required to communicate critical audit matters (CAMs) in auditor’s reports for fiscal years ending on or after June 30, 2019. As that date approaches, the Center for Audit Quality (CAQ) has continued to raise CAMs awareness. 

CAQ video released in February features leading audit committee chairs sharing their perspectives on CAMs. Among other points, the video’s participants discuss the significance of CAMs broadly, steps they are taking as implementation of the CAMs standard proceeds, and the potential for CAMs to enhance the understanding of investors and others about the audit process.

On April 1, the CAQ will host a free-of-charge webcast providing expert views on CAMs from both the public company auditing profession and the audit committee community point of view. Stay tuned for webcast details, and watch for more CAMs communications on CAQ social media in the weeks ahead.

Reminder: Research Grant Proposals Due March 14

Academics, take note and spread the word! Researchers have until March 14 to submit proposals to receive CAQ funding for scholarly research on auditing-related topics. Proposals will be reviewed by the CAQ’s Research Advisory Board (RAB), and grant awards will be announced in June. The full request for proposals and a list of previous RAB grant recipients are available on the CAQ’s website.

Emerging Technologies
Emerging Technologies

Emerging Tech: Fornelli Highlights Key Considerations for Audit Committees

“Emerging technologies—such as artificial intelligence, robotic process automation, drones, and blockchain—are changing how business gets done,” writes CAQ Executive Director Cindy Fornelli in a recent commentary. As these technologies continue to shape the financial reporting process, what are the key considerations for audit committees? Drawing from the CAQ’s emerging technologies oversight tool, Fornelli sets out important discussion points and questions that can assist audit committees in this rapidly evolving area.


#ConfidentTogether: CAQ Spotlights Teamwork, Diversity

Each month throughout 2019, the CAQ will celebrate broad themes relating to the many ways in which the public company auditing profession works internally and with key stakeholders to strengthen the confidence of investors and others. In February, the CAQ has highlighted teamwork, a fundamental aspect of both the auditing process and the system of investor protection as a whole.

In March, the CAQ will focus on a topic that is critical to the audit profession of today and tomorrow: diversity. On social media, track #ConfidentTogether to follow along and join the conversation.

Join the CAQ at These Upcoming Events  

Corporate Board Member’s 2019 Cyber Risk Forum
March 4; San Francisco, CA

Join CAQ Managing Director of Professional Practice and Member Services Catherine Ide at the keynote session, “Boards and Cybersecurity: A Call to Action,” with Commissioner Robert Jackson Jr. of the Securities and Exchange Commission (SEC). Gain insights into the SEC’s cybersecurity guidance related to disclosure and controls—and how companies should be thinking about the future of cybersecurity.  

Council of Institutional Investors Spring Conference
March 4–6; Washington, DC

The CAQ is pleased to support the Council of Institutional Investors’ Spring Conference.  

Weinberg 2019 Corporate Governance Symposium
March 20; Newark, DE

The CAQ looks forward to joining our governance colleagues at the Corporate Governance Symposium at the John L. Weinberg Center for Corporate Governance. Indra Nooyi, former Chairman and CEO of PepsiCo, and SEC Commissioner Robert Jackson Jr. will give keynote addresses.