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CAQ, others issue update to auditor assessment tool

Tammy Whitehouse | April 19, 2017

Audit committees have an updated tool available for use to help them assess their external auditors.

The Audit Committee Collaboration and the Center for Audit Quality have updated their “external auditor assessment tool,” which is meant to help audit committees appoint, oversee, and set compensation for their external auditors. The tool provides audit committees with sample questions to ask around the quality of services and adequacy of resources provided by the external auditor, the quality of communication and interaction with the auditor, and the auditor’s independence, objectivity, and professional skepticism.

The tool also provides a sample form and rating scale for getting input from representatives within the company about the...

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