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Projects Focus on Audit Quality, Professional Skepticism, and Objectivity

Wednesday, May 30, 2012

~~Projects Focus on Audit Quality, Fair Value and Deterring and Detecting Fraud~~

Washington, DC – The Center for Audit Quality (CAQ) continues its support for independent auditing-related research with the selection of five new academic research proposals for funding. 

The CAQ received 40 research proposals in response to a December 2011 request for proposals on such topics as financial reporting fraud deterrence and detection, professional skepticism and objectivity, audit quality, and the value of the audit. After careful consideration of the proposals, the CAQ’s Research Advisory Board (RAB), comprised of members from academia and the auditing profession, selected the following projects to receive funding:

  • “Field Evidence of Auditor’s Views on Audit Quality and Earnings Quality” by Brant Christensen, Marjorie Shelley and Thomas C. Omer, Texas A&M University, and Steven M. Glover, Brigham Young University 
  • “A Field Investigation of Coordination and Communications in Globally Dispersed Audit Teams” by Denise Hanes, Bentley University 
  • “Field Study Examination of How Auditors Evaluate Internal Control over Financial Reporting: Implications for Practice and Research” by Jay Thibodeau, Bentley University, Jeffrey Cohen, Boston College, Jennifer Joe, Georgia State University, and Greg Tompeter, University of Central Florida 
  • “Learning More about Auditing Estimates Including Fair Value Measurements” by Mark Taylor and Yi-Jing Wu, Case Western Reserve University, and Steven M. Glover, Brigham Young University 
  • “Evaluating the Intentionality of Misstatements: How Auditors Can Better Differentiate Errors from Fraud” by Erin Hamilton, University of South Carolina 

“The CAQ is committed to funding independent research that will augment the available academic literature as well as have practical applications to the work of public company auditors,” said CAQ Executive Director Cindy Fornelli. “The topics of the projects selected for funding focus on critical issues of interest to the profession and all audit quality stakeholders. The RAB has done an admirable job of conducting a thorough review and identifying outstanding projects to support.”

The CAQ’s research funding continues to provide opportunities for doctoral students as Texas A&M’s Christensen, Bentley’s Hanes and South Carolina’s Hamilton are all in accounting doctoral programs. 

This is the fourth year that the CAQ has funded scholarly academic research. Five projects were selected for CAQ funding in 2009, three projects were chosen in 2010 and another five funded in 2011.

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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