All Center for Audit Quality articles – Page 2

  • Article

    SEC raises the bar on cyber-security risks


    Regulators expect companies to raise their game in protecting the corporate jewels from online hackers, especially in schemes that are not exactly novel.

  • Blog

    Companies should revisit revenue compliance, SEC staff hint


    SEC staff have signaled companies might want to take a second look at their revenue recognition compliance as they approach their first year-end filing under ASC 606.

  • Blog

    Confidence in auditors tapers in 2018, poll says


    Investor confidence in auditors and in capital markets in general fell in 2018, according to the annual poll by the Center for Audit Quality.

  • Blog

    Audit leaders issue statement to new audit recruits


    As a new crop of college graduates joins the audit profession, U.S. audit leaders issued a joint statement to sell them on the viability of their career path.

  • Blog

    CAQ: Control deficiencies not CAMs, but could be tied to one


    A significant deficiency in internal control over financial reporting will not automatically constitute a critical audit matter that auditors will have to disclose under a new auditing standard, but it could suggest auditors will disclose a CAM related to the underlying accounting, said the Center for Audit Quality.

  • Blog

    CAQ arms directors with cyber risk roadmap


    To stoke more board inquiry on cyber-security, the CAQ has published a primer on questions that  management and external auditors should be ready to answer.

  • Blog

    CAQ offers tips to audit committees on leasing


    The Center for Audit Quality is offering some tips to audit committees on how to query senior management regarding readiness for new lease accounting standards.

  • Blog

    Audit leaders issue another year-end alert on key risks


    Audit leaders have handed out yet another alert to auditors to dig into high-risk areas as they prepare for the upcoming year-end audit cycle.

  • Fornellicrop

    Cindy Fornelli: The auditor’s CCO


    Cindy Fornelli leads the Center for Audit Quality, acting as chief compliance officer and stressing the importance of truly proactive and strategic compliance efforts for audit, rather than a check-the-box mentality.

  • Blog

    CAQ, others issue update to auditor assessment tool


    Audit committees have an updated tool available for use to help them assess their external auditors, courtesy of a collaborative group of advocates for audit quality.

  • Article

    More Hints at More Audit Committee Disclosure


    Image: The SEC plans a concept release “soon” that could modernize audit committee disclosures for the first time in years, including touchy subjects like naming the audit engagement partner. Expect awkward questions to follow about how audit firms are hired and perform the work they do. “This foreshadows what I ...

  • Blog

    CAQ Reminds Auditors of Hot-Button Audit Issues


    Image: A new Center for Audit Quality alert highlights issues that auditors will need to pay special attention to in the year-end review, such as revenue recognition, related-party transactions, and more. “This alert summarizes potential areas of risk and can be a useful resource for our auditing firm members as ...

  • Blog

    Audit Committees Offer Details on Auditor Independence


    Image: A Center for Audit Quality study shows a significant majority of all S&P Composite 1,500 companies are talking to investors about auditor independence, but fewer address how the auditor is appointed. “We think it is important to provide a baseline for audit committee disclosures, with the intent of tracking ...