The CAQ released a "Resource on Audit Quality Reporting" to highlight some important elements of audit quality US audit firms could consider in refining or developing their own reporting regarding their public company audit practice.
The CAQ and the AAA Auditing Section announced four awards as part of a new program designed to facilitate accounting and auditing academics' ability to obtain access to audit firm personnel to participate in their research projects.
A new research report examines auditor involvement in fraudulent financial reporting cases cited in SEC enforcement actions issued from 1998-2010. During the thirteen-year period, there were eighty-seven sanctions against external auditors in SEC fraud investigations involving publicly traded companies.
Mary Jo White, a former federal prosecutor for the Southern District of New York, was unanimously confirmed as chairman of the Securities and Exchange Commission (SEC) by the US Senate on April 8, 2013.
In the fight against financial reporting fraud, members of the financial reporting supply chain have a new tool to advance their fraud deterrence and detection capabilities. The Anti-Fraud Collaboration has published the "Hollate Manufacturing Case Study" to raise awareness of environments in which fraud might flourish.
On December 12, 2012, the Financial Accounting Standards Board (FASB), in conjunction with the Center for Audit Quality (CAQ), issued a summary of observations from two forums on disclosure effectiveness.
The Center for Audit Quality will be hosting the "Communications with Audit Committees: Requirements and Leading Practices" webcast, which will examine the PCAOB's new Auditing Standard 16, "Communications with Audit Committees."
Seven organizations have joined to launch a new tool to assist audit committees in performing an annual evaluation of an external auditor in order to make an informed recommendation whether to retain the auditor.
The CAQ just released a practice aid intended to encourage audit firms to proactively communicate with audit committees and has announced its upcoming webcast, “Communications with Audit Committees: Requirements and Leading Practices.”