This analysis from the CAQ examines 43 comment letters, from accounting firms, investors, academics, and others, in response to PCAOB Proposed Auditing Standard - A Firm’s System of Quality Control and Other Proposed Amendments to PCAOB Standards, Rules, and Forms (QC 1000). Based on our analysis, we believe all stakeholders...

In this comment letter, the CAQ provides views to the PCAOB related to its request for comment on its proposed new auditing standard, AS 1000, General Responsibilities of the Auditor in Conducting an Audit and Proposed Amendments to PCAOB Standards. The CAQ supports the objectives of the proposal to streamline and...

Please note that the PPTA is intended as general information and should not be relied upon as being definitive or all-inclusive. The CAQ encourages member firms to refer to the rules, standards, guidance, and other resources in their entirety at the hyperlinks provided below. All entities should carefully evaluate which...

Technological advances. Emerging developments. Evolving corporate reporting. The world of auditing is rapidly evolving, and it’s an exciting time to be an auditor. As a long-time accountant, I never thought I’d be using the words “auditor” and “exciting” in the same sentence (I’m joking of course, I put those words in...

Audit Partners Pessimistic on U.S. Economic Outlook as U.S. Businesses Continue to Face Inflation, Cybersecurity Risks Washington DC, May 19, 2023 – Audit partners are pessimistic about the outlook for the U.S. economy as U.S. businesses continue to face inflation, cybersecurity risks, and increased regulation, according to the Center for Audit Quality (CAQ’s), Audit...

  Comment Letter IAASB Audit Evidence Comment Letter Friday, April 21, 2023 Download PDF In this comment letter, the CAQ provides views to the IAASB related to its request for comment on its Proposed International Standard on Auditing 500 (Revised) Audit Evidence and Proposed Conforming and Consequential Amendments to Other ISAs.  The CAQ supports the...

  Newsletter Public Policy and Technical Alert | March 2023 Wednesday, April 12, 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 PPTA...

  Comment Letter IAASB Work Plan Comment Letter Thursday, April 6, 2023 Download PDF The CAQ shares its views related to the International Auditing and Assurance Standards Board (IAASB or Board) Proposed Strategy and Work Plan for 2024-2027 (the Work Plan). Overall, we are pleased that the Work Plan focuses on standard setting that...