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Center for Audit Quality (CAQ)

The Center for Audit Quality (CAQ) is an independent, non-profit organization dedicated to promoting high-quality audits in the public interest. It supports the work of audit professionals, helps ensure the reliability of financial reporting, and contributes to the effectiveness of internal controls. The CAQ focuses on fostering public confidence in the audit process by advocating for best practices, maintaining rigorous standards, and providing resources to improve audit quality.

Example

The CAQ collaborates with regulatory bodies like the Securities and Exchange Commission (SEC) to develop guidelines for audit firms, ensuring that public company audits meet high standards of accuracy and integrity.

Key points

• The CAQ is a non-profit organization that promotes high-quality audits in the public interest.

• It helps improve the reliability of financial reporting and internal controls.

• The CAQ collaborates with stakeholders to maintain rigorous audit standards.

Quick Answers to Curious Questions

The CAQ aims to promote high-quality audits, enhance the reliability of financial reporting, and foster public confidence in the audit process.

The CAQ works with audit firms, regulators, policymakers, and other stakeholders to improve audit quality and maintain high standards in financial reporting.

By advocating for best practices, providing resources for audit professionals, and engaging with regulators to ensure the audit process is transparent and reliable.