CAQ Snapshot: June 2019
Wednesday, June 26, 2019
EY’s Grier and BDO’s Berson Tapped to Lead the CAQ Governing Board
The Governing Board of the Center for Audit Quality (CAQ) has elected new leadership. Effective October 1, Kelly Grier, US Chairman and Managing Partner and Americas Managing Partner at EY, will become the Governing Board’s Chair.Wayne Berson, US CEO at BDO USA, LLP and Global Chairman at BDO International, will serve as Vice Chair.
“We are delighted and grateful that Kelly Grier and Wayne Berson will step into these leadership roles on the CAQ Governing Board,” said CAQ Executive Director Julie Bell Lindsay. “Their vision, energy, and judgment will be instrumental to the CAQ’s continuing efforts to enhance investor confidence and public trust in the global capital markets.”
“In an era of accelerating change, the CAQ’s overarching mission of fostering trust in audit quality and financial reporting is more important than ever,” said Grier. “I look forward to working with my Governing Board colleagues and Julie as we help the public company auditing profession navigate this exciting time of evolution and engage with our stakeholders on vital public policy and corporate governance issues.”
“The auditing profession strengthens confidence in our capital markets, and the CAQ strengthens the work of public company auditors, said Berson. “I’m proud to be a part of this Board, which is a catalyst for addressing the challenges and opportunities that lie ahead.”
RSM US LLP Managing Partner and CEO Joseph M. Adams will continue to serve as Acting Governing Board Chair through September, after which he will remain a member of the Board.
“We thank Joe Adams both for his prior tenure as Vice Chair and for stepping in as Acting Chair during this moment of transition,” added Lindsay. “Our organization benefits greatly from Joe’s steady presence and guidance.”
CAQ Welcomes Andrew Zulauf as Professional Practice Fellow
Andrew Zulauf, CPA, has joined the CAQ as a Professional Practice Fellow. An Audit Partner in KPMG’s McLean, Virginia office, Zulauf stepped into the fellowship role as his KPMG colleague, Anita Doutt, CPA, began maternity leave in June. Doutt will resume her fellowship at the end of September.
Zulauf brings the CAQ 21 years of experience auditing consumer and industrial businesses—from manufacturers to distributors—primarily leading integrated financial statement audits of multinational public companies. His audit experience includes Securities and Exchange Commission filings, carve-out financial statements, and employee benefit plan audits.
Conducted in collaboration with CAQ Governing Board firms, the Professional Practice Fellowship Program brings in practitioners who can help guide the CAQ’s professional practice and public policy activities. Zulauf is the program’s 10th participant.
Roadtrip Nation Revs Up
Roadtrip Nation is sending a group of young people on a three-week trip to explore the exciting range of careers in audit and accounting. Fueled by Discover Audit and filmed for the Roadtrip Nation public television series, this experience will introduce a diverse group of young people—and TV audiences—to the wide range of paths in auditing and accounting while also working to dispel some of the common stereotypes tied to these careers. Selected participants will talk to auditing professionals at all stages of their careers and get the advice needed to blaze their own career paths. Stay tuned for more Roadtrip Nation updates, which you can also find atDiscoverAudit.org.
At HBCU Business Deans Event, CAQ Discusses a “New Pathway” into Accounting
In late May, the CAQ discussed “A New Pathway into the Accounting Profession” at the 17th Annual Roundtable Summit of theHistorically Black Colleges and Universities (HBCU) Business Deans Roundtable. Crystal Cooke (pictured), CAQ Senior Manager of Governance and Talent, provided perspective on this New Pathway, which includes a new set of regional workshops aimed at encouraging HBCU undergraduate students (accounting and other) to major in accounting, to pursue a CPA certification, and to develop their understanding of the benefits of a career in public company auditing. Cooke was joined in her presentation by Kim Drumgo, Director of Diversity and Inclusion Initiatives at the American Institute of CPAs.
Did You Know? CAQ Collections
The CAQ produces a range of resources, including alerts, comment letters, guides, reports, and videos. To help visitors explore these resources on specific topics, the CAQ’s website features Resource Collections. On the CAQ Collections page, you’ll find a directory of collections on key auditing issues, such as the following:
Many of the CAQ’s resources related to its engagement with academia are also organized by collection.
#ConfidentTogether: Focus on Objectivity and Independence
Throughout 2019, the CAQ is shining a spotlight on the core values and themes that define the public company auditing profession. In June, the CAQ is highlighting objectivity. July’s theme will be independence. Follow along and join the conversation on social media using #ConfidentTogether.
Join the CAQ at These Upcoming Events
June 26–29; San Diego, CA
CAQ Executive Director Julie Bell Lindsay will join a panel, “Accounting and Audit Issues for Small and Mid-Caps,” with John White (moderator) of Cravath Swaine & Moore LLP, Raj B. Dave of Newell Brands Inc., and Sharon A. Virag of NeoGenomics Laboratories Inc.
June 29–July 2; Boston, MA
As a part of the Discover Audit program, the CAQ is happy to sponsor this event, an annual gathering of approximately 3,600 school counseling professionals.
August 8–10; Chicago, IL
The CAQ looks forward to exhibiting at the Annual Meeting of Beta Alpha Psi, an honor organization for financial information students and professionals.
August 10–14; San Francisco, CA
On August 12, Julie Bell Lindsay will moderate the session “Sustaining a Strong System of Quality Control to Enhance Audit Quality.” Joining her will be Abe Dymond of the Public Company Accounting Oversight Board, Heidi Schuetze of PwC, Chris Smith of BDO USA LLP, and Dan Sunderland of Deloitte & Touche LLP.