This year marks the 10th anniversary for the Center for Audit Quality, an organization we’ve long partnered with for its excellence in research and its continuous strides towards enhancing investor trust. We were honored to attend the CAQ’s 10th Anniversary Celebration in January (Washington, D.C.), which drew nationwide attendees from across the accounting, auditing, financial reporting, and governance professions.
This week, the CAQ launched a media page that archives the snapshots, panels, and social media discussions of the day—and commemorates the organization’s ten-year legacy.
As part of the 10th anniversary program, the Center for Audit Quality organized expert panels, which spanned topics from innovation and diversity to the future of the audit profession.
Below, we give snippets from one of our favorite panels of the day, Panel Three (Transparency, Innovation, Advocacy, Evolution), which attests to the impressive range of discussions, attendees, and panelists who came together for the celebration.
Twenty percent of corporate directors are 68 years of age or older… Within a ten year period, a significant number of seats will be open, but it’s still going to take a really keen focus on filling those seats with the most qualified individuals—and I would hypothesize to you that, in a large amount of those cases, those will be diverse candidates. We as board members and investors have got to hold our feet to the fire to choose the best candidates.
On Innovation & Talent Development:
As we think about innovation, it’s always easy to say: Let’s go invest in AI. But we need to invest in talent, too. We need to ‘digitize’ and ‘tech savvy’ our talent so that we’re building the auditor of the future from the ground up. We can’t only rely on the university systems to produce that… We need to help train them and digitize them for this new world, and that’s an investment.
On Sustainability & Disclosure:
I think it will be demand-driven. Investors will demand it. Being able to provide the information in a common language that allows investors to gather that together and make it useable for their investment decisions [will be critical]. It’s also the forward-looking aspect of that information—not just [answering], What do your numbers look like? (because the past is not necessarily the prologue) but [rather], >What does it mean for the future?”
Don’t miss the full scope of the CAQ’s resources on their media page: Commemorating Ten Years of the Center for Audit Quality. And be sure to catch the 100th episode of Inside America’s Boardrooms, which features CAQ Executive Director, Cindy Fornelli. Our hats are off to this outstanding organization, and we look forward to another ten years of collaboration, thought leadership, and innovation. Kudos!