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CAQ Chooses Path Forward on Identifying Quality Indicators

Tammy Whitehouse | January 19, 2016

As regulators try to pin down a workable definition for the concept of “audit quality,” the audit profession is  working on how to create a yardstick of its own as well.

The Center for Audit Quality, which represents auditors, has issued a new report on its effort to pilot test its approach to defining audit quality indicators and its suggested path forward on how to identify the most effective way to define and then measure audit quality. The CAQ says it has learned through its roundtable discussions and pilot testing that the determination is “more art than science,” and audit committees are looking for guidance on how to grasp the more qualitative aspects of external audit.

“It is the conversation that is important,” writes the CAQ in...

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