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Strong 5-Year Trends for Enhancements to Audit Committee Transparency

November 5, 2018

The amount of information available to investors and other stakeholders on audit committee oversight of the external auditor continues to increase, according to the fifth edition of the Audit Committee Transparency Barometer (PDF), an annual report issued jointly by the Center for Audit Quality (CAQ) and Audit Analytics. “The trends revealed in our report tell a clear success story — over the past five years, audit committees have provided increasingly robust disclosures about their important investor-protection role in overseeing the external audit,” said CAQ Executive Director Cindy Fornelli. “Taking steps to enhance transparency into our extraordinary system of financial reporting, as many audit committees are doing, strengthens both the confidence of investors and their ability to make sound decisions in the capital markets. To build on this progress, the CAQ encourages audit committees to explore additional opportunities for transparency improvements."