The Center for Audit Quality (CAQ) will host an October 24 webcast, Communications with Audit Committees: Requirements and Leading Practices, which will examine the PCAOB's new Auditing Standard 16 (AS 16), Communications with Audit Committees.
The webcast will explore effective two-way communication between the auditor and the audit committee, which benefits the audit committee in overseeing the financial reporting process and external audit as well as the auditor in performing the audit.
The CAQ supports proactive engagement between the audit committee and the external auditor on inspections and quality control programs, and it recently released the CAQ Practice Aid, Discussions with Audit Committees about Inspection Findings and Quality Control Matters, to share best practices with public company auditors. The practice aid is consistent with the objectives in the PCAOB's recently released Information for Audit Committees about the PCAOB Inspection Process, intended to inform audit committees about the PCAOB inspection process and the meaning of inspection findings.
The CAQ's webcast will look at these new reports and provide for auditors, audit committees, and others with practical pointers on AS 16 to enhance the relevance, timeliness, and quality of the auditor's communications to the audit committee. Viewers will also hear thoughts and perspectives on leading practices for both auditors and audit committees to promote robust and candid dialogue on significant audit and financial statement matters as well as PCAOB inspections results and other quality control matters.
Date: Wednesday, October 24
Time: 2:30 to 4:00 p.m. ET
- Jay Hanson - Board Member, PCAOB
- Michele Hooper - President and CEO, The Directors' Council; Audit Committee Chair, PPG Industries, Inc.; Member, CAQ Governing Board
- Joe Ucuzoglu - National Managing Partner, Regulatory and Public Policy, Deloitte LLP
Moderator: Cindy Fornelli - Executive Director, Center for Audit Quality
The webcast is free of charge unless CPE is desired. To register, contact Jake Leon, the CAQ's deputy director of communications at (202) 609-8048 or [email protected].
Source: October 18, 2012, Center for Audit Quality Press Release