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The Center for Audit Quality: Auditors’ Vision in Motion. A Presentation to the 38 th Meeting of the International Auditing and Assurance Standards Board March 18, 2010 . Enhancing confidence and trust by…. CAQ’s Individual Investor Survey. The Public Policy Challenge.

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The center for audit quality auditors vision in motion

The Center for Audit Quality: Auditors’ Vision in Motion

A Presentation to the 38th Meeting of the International Auditing and Assurance Standards Board

March 18, 2010





Regulatory challenges the threat to audit quality

Regulatory Challenges – The Threat to Audit Quality


The caq s commitment to audit quality

The CAQ’s Commitment to Audit Quality


  • Deterring and detecting fraud is a shared

  • responsibility

  • “Tone at the top” is critical

  • Boards and audit committees must maintain

  • skepticism

  • SOX has created environments that are less

  • conducive to fraud


  • Research Advisory Board promotes credible

  • and timely research on audit-related topics

  • 2009: 5 projects awarded $130,000 in funding

  • 2010: 37 responses to our latest RFP; up to

  • $200,000 in funding available

  • Research symposia explore link between

  • audit research and practice


  • CAQ pleased by SEC’s support for a single set of

  • high-quality global standards

  • Have encouraged SEC to execute its Work Plan

  • so it can make a positive decision in 2011

  • Our “Guide to IFRS” is a balanced overview of

  • the challenges and opportunities


In conclusion

In Conclusion

The profession has made great strides in improving public company audit quality

Regulators and standard setters are subject to heightened scrutiny, if not outright criticism

CAQ will remain active, in collaboration with stakeholders

Our work – including Anti-Fraud Initiative –

continues


Cindy fornelli executive director center for audit quality

Cindy FornelliExecutive DirectorCenter for Audit Quality

www.TheCAQ.org


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