CAQ Snapshot: January 2019
Thursday, January 31, 2019
CAQ Year in Review Recaps 2018 Activities
The Center for Audit Quality (CAQ) has published its 2018 Year in Review, which covers the CAQ’s key activities and accomplishments in support of public company audit quality. Among other topics, the Year in Reviewhighlights the CAQ’s work to help public company auditors improve their effectiveness, its support for independent research, its collaborative efforts to fight financial reporting fraud and work with audit committees, and its engagement with investors and regulators on a range of key issues.
To request a hard copy of the report, please contact Reggie Hill at email@example.com.
CAQ Framework Can Help Accounting Firms Enhance Disclosures About Audit Quality
In January, the CAQ released its Audit Quality Disclosure Framework. The culmination of a significant collaborative effort from a range of CAQ member firms, the Framework takes a voluntary, flexible approach that can aid public company accounting firms of all sizes as they develop or consider developing their 2019 transparency or audit quality reports.
“Public company accounting firms make significant investments in their people, processes, policies, and technology related to audit quality,” says CAQ Executive Director Cindy Fornelli in a statement accompanying the Framework’s release. “Our Framework can facilitate consistency and comparability over time as firms foster transparency and trust by informing the public about their work to maintain and enhance audit quality.”
This Framework also builds on past efforts of the CAQ, its member firms, and others to develop perspectives on audit quality indicators (AQIs). Learn more about these efforts—which exemplify the profession’s dedication to transparency and trust—at the CAQ’s AQIs resource page.
Fornelli Reflects on Building Trust
Building trust in the capital markets isn’t just the province of big institutions, laws, or entities, suggests Cindy Fornelli in aJanuary LinkedIn Influencers post. “No less important are the day-to-day interactions by countless individuals working across the marketplace in many capacities,” she writes.
While it may be impossible to highlight every single one of these unsung heroes or deeds, Fornelli notes, “we can still work to spread awareness of the great variety of steps that are taken throughout the market to build trust.”
Fornelli’s commentary was part of the CAQ’s monthlong focus on “trust,” the first monthly theme under its #ConfidentTogether campaign for 2019. In the months ahead, watch for more thematic communications from the CAQ addressing the multifaceted and collaborative ways in which the auditing profession strengthens the confidence of investors and others.
Join the CAQ at These Upcoming Events
International Corporate Governance Network (ICGN) Amsterdam
February 12–13; Amsterdam, Netherlands
We look forward to seeing our international investor and governance colleagues at ICGN’s annual conference, where Cindy Fornelli will moderate a panel, “Auditor Communications to Audit Committees and Shareholders,” with J. Robert Brown, Board Member, Public Company Accounting Oversight Board; Paul Koster, Managing Director, Dutch Association of Private Investors VEB; Gilly Lord, Head of Audit Strategy and Transformation, PwC United Kingdom; and Jan Nooitgedagt, Member of the Audit Committee of Rabobank and Chairman of the Supervisory Board, PostNL.
Association of Securities and Exchange Commission Alumni (ASECA) Annual Dinner
February 21; Washington, DC
The CAQ is proud to sponsor the ASECA Alumni Annual Dinner, supporting ASECA’s mission to provide the opportunity for education and growth of industry professionals in the field of securities law.
2019 Cyber Risk Forum
March 4; San Francisco, CA
The CAQ’s Catherine Ide, Managing Director of Professional Practice and Member Services, will moderate a keynote session, “Boards and Cybersecurity: A Call to Action,” with SEC Commissioner Robert Jackson Jr. The two will discuss the SEC’s cybersecurity guidance related to disclosure and controls, as well as how companies need to be thinking about the future of cybersecurity.
Council of Institutional Investors (CII) Spring 2019 Conference
March 4–6; Washington, DC
The CAQ is pleased to support the CII Spring 2019 Conference.
2019 Corporate Governance Symposium
March 20; Newark, DE
The CAQ looks forward to joining our governance colleagues at the 2019 Corporate Governance Symposium, hosted by the John L. Weinberg Center for Corporate Governance at the University of Delaware.