Serving investors, public company auditors, and the US markets.

The Center for Audit Quality is the recognized leader - inside and outside of the profession - on all
things public company auditing: resource provider, thought leader, and convener.

Our

Mission

CAQ is a nonpartisan public policy organization serving as the voice of public company auditors
and matters related to the audits of public companies.

To achieve our mission, we:

 Promote high-quality performance among US public company auditors.

 Convene capital market stakeholders to advance discussions on critical issues affecting audit
quality, US public company reporting, and investor trust in capital markets.

 Champion policies and standards, informed by independent research and analyses, that
bolster and support the effectiveness and responsiveness of US public company auditors and
audits in dynamic market conditions.

Our

Values

Integrity

Integrity is a driving force at the CAQ to build a fair, honest, and genuine working environment,
which reflects our mission to promote integrity in the corporate reporting ecosystem.

Excellence

Excellence is the results-driven production of high-quality work with strategic and intentional
purpose to achieve our mission and organizational goals.
Diversity & Inclusion

Teamwork

Transparency

“The CAQ has established itself as a force in public company auditing, thanks to its convening
power, its constructive policy engagement, and vision for the profession’s future.”

- Julie Bell Lindsay,

Chief Executive Officer, CAQ

SOX: Enhancing Audit Quality

Financial reporting and audit quality are strong due in part to the current regulatory structure
established by the landmark Sarbanes-Oxley Act of 2002 (SOX), which protects investors in the
capital markets, while allowing competition and innovation in the US audit market.

Early 2000s: The Need for Change

The world faced the dotcom bubble burst; high-profile corporate bankruptcies; and fraud and
accounting scandals at Enron and WorldCom. These events shook financial markets and investor
confidence in them, dropping the NASDAQ Composite Index 78 percent in a few months.

2002: Landmark Legislation

Today: Strengthened Financial Reporting and Audit Quality

Related Resources
Comment Letter, Sign-on Letter | PCAOB: AS 2405, A Company’s Noncompliance with Laws and
Regulations

In this comment letter, over 170 audit committee chairs, board members and other capital markets
stakeholders signed on to share their concerns about proposed Amendments to PCAOB Auditing
Standards related to a Company’s Noncompliance with Laws and Regulations and

Auditors, Audit Committee, Preparers/Issuers, Academics, Investors, Comment Letter, Company

Management, Broker Dealers, Audit Quality, Anti-Fraud

Comment Letter | PCAOB: AS 2405, A Company’s Noncompliance with Laws and Regulations

In this comment letter, the CAQ provides views to the PCAOB related to its request for comment on
its proposed Amendments to PCAOB Auditing Standards related to a Company’s Noncompliance with
Laws and Regulations and Other Related Amendments. The CAQ

Auditors, Audit Committee, Preparers/Issuers, Academics, Investors, Comment Letter, Company

Management, Broker Dealers, Audit Quality, Anti-Fraud

Value of the Audit

Our capital markets are an important engine for driving and maintaining our economic and societal
well-being. These markets operate on data, and audited financial statements have long been a
critical element of this information dynamic for their accuracy, transparency, and reliability. As
investors

Auditors, Policymakers, Audit Committee, Investors, Publications, Company Management, Audit

Quality

Capital Markets Pulse | August 2023

Welcome back to the Capital Markets Pulse, a monthly newsletter from the Center for Audit Quality
designed to bring you insights, resources, and tools on the latest issues impacting capital markets.
This month, I’m using this newsletter to spotlight a
Auditors, Policymakers, Investors, Auditor Independence, Newsletter, Company Management, Audit
Quality

Public Policy and Technical Alert | July 2023

As part of the Center for Audit Quality’s (CAQ) ongoing effort to keep members and stakeholders
informed on significant public policy and accounting matters, we are pleased to offer the Public
Policy and Technical Alert (PPTA). Each month, the

Auditors, Newsletter, PPTA

Cisco’s Former Chief Accounting Officer Prat Bhatt Appointed to CAQ’s Governing Board

August 2, 2023, Washington D.C., - Prat Bhatt, former Chief Accounting Officer at Cisco, has been
appointed to the CAQ’s Governing Board, effective August 1, 2023. The CAQ’s Governing Board is
comprised of chief executive officers from eight of the

Auditors, Policymakers, Audit Committee, Investors, Press Releases, Company Management, Audit
Quality