he Center for Public Company Audit Firms is intended to make a direct statement to members of our profession about the importance of their audit performance,” said Susan Coffey, AICPA vice president of audit quality and professional ethics. “CPA firms demonstrate their commitment to audit quality by agreeing to and meeting the specific requirements for center membership. They also show their dedication to sharing best practices, learning about emerging issues and taking steps to enhance audit quality.”
Membership in the center will have value in the eyes of regulators and public companies as well. “One of our goals is to encourage public companies to look to the center’s member firms when searching for an audit firm, and to include a request that CPA firms be a member of the CPCAF as part of their RFPs,” Coffey added.
The center’s enhanced Web site was built on a powerful, new technology platform that organizes information more conveniently for members. “Our objective is to provide an online resource for CPA firms—a single location where they can find resources, tools and professional guidance on how to audit a public company,” said Robert J. Kueppers, chairman of the Center for Public Company Audit Firms Executive Committee.
Interested in becoming a member of the Center for Public Company Audit Firms? Learn about premium member benefits by clicking on the “Membership” tab of the Web site at www.aicpa.org/CPCAF .WHAT IT IS
The Center for Public Company Audit Firms (CPCAF) is a voluntary membership organization for CPA firms that audit or are interested in auditing public companies. Its purpose is to promote high-quality public company audits. The CPCAF’s mission is to
Enhance the quality of audit practices through timely communication of regulatory developments, best practice guidance and technical updates.
Provide members a forum to discuss and express views on matters affecting public company audits.
Maintain working relationships with the SEC and PCAOB to further audit quality.
Be a resource to find solutions to auditing, inspection and other issues identified by regulators by gathering views of members; and for preparing and issuing comment letters to regulators.
Provide leadership by sponsoring public forums and meetings with key stakeholder groups.
Administer a peer review program for nonpublic practices of PCAOB-registered firms.
The center’s enhanced Web site contains premium content for its member firms as well as information for all types of stakeholders, including regulators, the investing public, other interested CPAs and the media. To see the site, go to www.aicpa.org/CPCAF .
WHAT IT OFFERS
The enhanced CPCAF Web site offers a wealth of conveniently organized information under
Home. You can use the search engine to look for spotlights on important events or alerts on regulatory updates, and select individual tabs for specific information.
Resources. Find in one location the research tools, regulations, rules, practice aids, specialized guidance, alerts and reference materials you need to perform a public company audit.
Community. Scan the calendar for important dates and milestones or locate a committee or center staff member.
Events. Review the list of AICPA conferences as well as important upcoming meetings and events of the SEC, PCAOB and others.
Products. Find the products and tools you need.
Membership. Learn more about the benefits of joining the CPCAF. Registering with the Web site will ensure you access to the information you need.
WHO SHOULD JOIN
CPA firms of all sizes that conduct audits of public companies, are committed to audit quality and want to be current on issues and regulatory developments and part of a broad-based professional community.
To review the voluntary membership requirements, please visit the site at www.aicpa.org/CPCAF and click on the “Membership” tab.